Import Export Code In Hyderabad

Import Export Code is a necessity for every business engaged in Import and Export of goods and Services

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IMPORT EXPORT CODE IN HYDERABAD COST WITH BREAK DOWN

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IMPORT EXPORT CODE IN HYDERABAD

Import Export Code registration hyderabad required by persons who are importing and exporting goods from India. It is a ten digit number granted by the Directorate General of Foreign Trade under the Ministry of Commerce and Industry, Government of India to any bonafide user to carry out import or export. When IE Codes are issued they are used throughout and no renewal is required. Therefore, it is recommended to the organizations to obtain an IE Code irrespective of its usage.No dealing of Export or Import is possible without the IEC license.

Along with the tourist attraction for its monuments Hyderabad is also known for its theme parks and hangout spots. The snow theme park called snow world is the first snow themed park of the country. When it was launched it was the third snow park in the world after Malaysia and Singapore. Another interesting fact is that the app uber the second largest engineering workforce after San Francisco is in Hyderabad.

 

REASON TO REGISTER AN IMPORT EXPORT CODE IN HYDERABAD

The reasons for import export code registration Hyderabad are:

1. All importers require IE Code who import Goods into India. It must be quoted while clearing Customs. Even Banks require these codes so that they can import money from abroad.

2. It does not require any filling of return. Once, the IE Code is issued by Directorate General of Foreign Trade then no other procedure is the required.No filing of return is required during transactions also.

3. All exporters also requires this IE Code. It must be quoted while sending shipments. Banks also require this while exporting money abroad.

4. Even individuals who are Proprietors of a business can obtain an IE Code. It is not necessary to incorporate a business entity only.

5.IE Code online Hyderabad is issued for the lifetime of the entity and no renewal is required. So, once an IE Code online Hyderabad is issued no hustle and bustle will be there.

 

NEED FOR IMPORT EXPORT CODE IN HYDERABAD

The need for import export code registration Hyderabad are:

IEC Code is the Exporter Importer Code. The need for IE Code is this that without this no import and export transactions can be done. With this code, banks can very easily import and extort money. It becomes easy for an individual or a business entity to do import and export of entities.No person or entity shall make any export or import without the IE Code.

 

PROCESS OF IMPORT EXPORT CODE REGISTRATION HYDERABAD

The procedure for import export code registration Hyderabad is as follows:

1. There must be an IEC online application Hyderabad form duly signed by an authorized signatory.

2.Self-certified copy of  IEC online application hyderabad issued byT.

3. The list must be prepared of the directors/Partners/Proprietor on Company’s letterhead.

4. If it is Pvt.ltd./Public Ltd. company then they should forward a copy of Memorandum of Association or an Article of Association and if it is a Partnership firm then they should forward a copy of partnership deed attested by notary.

5. There is a requirement of a self-certified copy of PAN Card issued by the Income Tax Department.

6. The Company should mention their Email id, Mobile number, Fax number, etc in the application.

7.Bank certificate duly signed by authorities.

8. Fees are submitted.

 

MINIMUM REQUIREMENTS FOR IMPORT EXPORT CODE REGISTRATION HYDERABAD

The requirements for import export registration Hyderabad are:

1.PAN number.

2.Current Bank account.

3.Banker’s Certificate.

4.IE Code number.

5. The physical application must reach the DGFT Regional Office within 15 days of online submission.

6. The E-mail id of the applicant is not necessary but if provided it will facilitate faster communication.

Get your IEC  registration Hyderabad done by companyvakil.com with quick and hassle-free service.

DOCUMENTS REQUIRED FOR IMPORT EXPORT CODE REGISTRATION HYDERABAD

In order to get an IEC Code online Hyderabad , there are some documents required which are as follows:

1.Current bank account details.

2.Self-attested copy of PAN(Permanent Account Number) Card.

3.Banker’s certificate.

4. Two copies of passport size of the applicant, that is attested by the banker of the applicant.

5. Covering letter on the letterhead of the Company to request for the issuance of an IE Code.

All these documents along with the two copies of the IEC online application Hyderabad form need to be submitted with a fee as required. If one wishes to apply online for an IE Code, then upload the scanned copies of these documents and make an online payment for the fees to the Directorate General of Foreign Trade.

For an offline process, the certificate with the demand draft along with the copies of documents needs to be submitted to the nearest DGFT office. One must also attach a self-addressed envelope along with Rs.25/- Postal stamp for delivery of certificate through registered post or challan/DD of Rs/100- through speed post.

 

ADVANTAGES/BENEFITS OF IMPORT EXPORT CODE REGISTRATION HYDERABAD

The advantages of import export code registration Hyderabad are:

1.IE Code registration Hyderabad is a mandatory requirement for import and export in India. It basically unlocks the International Market like we can easily Export and Import goods or money from there.

2. One can claim the refunds of various taxes while exporting goods or even Government can waive the import duties, if the other country promises to export the goods within a particular time frame.

3. IE code registration Hyderabad is very cheap to register. Its registration can be made online without going here and there. One can just register it with the help of companyvakil.com or any other portal which may deem fit for them.

4. The best part with IE code registration Hyderabad is this that once it is issue, it is issued for lifetime.No renewal process is there.No renewal fees.

5. There is no compliance for registration of IE Code.No need to file any periodical return.

TIME TAKEN in registration process

FAQ’S 

 

Q1.Which documents are required for Import Export Code Registration?

Ans:  Documents required for Import Export Code Registration are:

Current Bank Account Details, Self-attested copy of the PAN card, Banker’s Certificate, Two self-attested copies of the passport size photograph of the applicant, Covering letter on the letterhead of the applicant’s company to request for the issue of new IEC Code in india Number

Q2.What is the validity of IE Code?

Ans: Lifetime Validity of the business.

Q3.Is there any filing of return after the obtainment of an IE Code?

Ans: No, there is no filing of return after the obtainment of an IE Code

Q4.Is PAN Card necessary for registration OF IE Code?

Ans: Yes, PAN card is mandatory for registration of IE Code.

Q5.Can two IE Code be issued against one PAN Card?

Ans: Only one IE Code can be issued against one PAN card. Branch offices of the firm can be issued IE cord from the same PAN card

Q6. What is the fee for fresh application of IE code?

Ans: Application fee is Rs 250, which is to be paid either by demand draft or pay order from any recognized bank in favor of JT.DGFT, Cochin.

Q7.Can an import-export be made without the IE Code?

Ans: No, IE code is recognized by the government and is mandatory for the business of import-export.

Q8. What is the fee for issuance of duplicate IE code?

Ans: Fee for issuance of duplicate IE code is Rs 200.

Q9.What does the exporter/importer do if he doesn’t wish to use a particular IE Code?

Ans: The exporter/importer shall surrender the IE code after settling all the liabilities which are required to be paid.

Q10. Does one need an authority letter at the time of submission of application?  

Ans: No, there is no need of authority letter at the time of submission of application.

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