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IEC REGISTRATION IN JAIPUR COST WITH BREAK DOWN
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Import Export Code registration in Jaipur
Import Export Code or IEC also known sometimes as IE Code is a unique 10-digit code issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industries, Government of India. This Import Export Code is required to conduct any import export related activity within the Territory of India. Without obtaining this code, an individual cannot conduct import export business in Jaipur. Therefore, for a person to be involved in import and export business it is necessary to obtain the Import Export Code.
It is necessary to obtain this IEC code in order to be able to do the import export business. Without the IE Code it is not possible to carry out any form of import or export. The process of acquiring an IE Code is pretty easy and the code can be acquired by applying for it with the Directorate General of Foreign Trade (DGFT).
In cases where the international trade falls under the category of services or exchange of technology, the IE Code is not required except in certain special instances. In transactions such as these, the IE Code is required only in those cases where the trade is restricted by the government of India, such as automatic guns and nuclear weapons. IE Code registration in Jaipur is also not needed in the cases where the goods imported or exported are for personal use of the importer/ exporter or the trade is carried out by some government ministry or department.
We at Company vakil help you register for Import Export Code or IE Code (IEC) from Jaipur. Jaipur aka India’s ‘pink city’ is the capital of Rajasthan. It houses the world famous Amer Fort. It is one of the most famous tourist spots in Jaipur. It is also one of the UNESCO world heritage sites. It is made of marble and sandstone. This fort derives its name from a nearby temple- Ambikeshwar Temple (devoted to lord Shiva). On the contrary, according to other theories, it derives its name from Amba or Goddess Durga. Amer was initially ruled by the Meenas, but this fort was constructed by a Kachwaha ruler, Raja Man Singh.
Reasons for an Import Export Code registration in Jaipur
There are a number of reasons for IE Code registration in Jaipur. They are as follows:
- Mandatory: For any business entity to conduct any form of import and export activity, it is mandatory to obtain and register an IEC in Jaipur.
- No Need for Renewal: Import Export Code is issued to any person for lifetime and there is no need to apply for the renewal of the IEC ever again. Once an IE code has been obtained it can be used for all the import and export transactions.
- Low Cost: Obtaining Import and Export Code is very economic as an IE code can be obtained at very low costs. It can be obtained with the help of Companyvakil.com at the minimal fee of Rs. 1899.
- Credibility: Since an IE code establishes a firm as an importer and exporter, this status increases the credibility of the firm in the market as it means that the firm is also involved in international transactions.
- An IEC code is required in order to make international transactions related to trade and business.
- Apply Online: Instead of making large number of trips to various offices and submitting a large number of documents, IEC can be applied for online and easily registered online as well.
Process for online Import Export Code registration in Jaipur
Now, the process of obtaining an Import Export Code has been provided an online platform and thus can be done easily. In case a person fills an offline application, it has to be submitted in the nearest zonal office. The procedure is:
- An application is submitted to the regional authority of the DGFT (Directorate General of Foreign Trade) pertaining to the registered office of the company. The application is to be made in the Aayaat Niryaat Form 2A (ANF 2A) format.
- The Aayaat Niryaat Form 2A should contain the details of the proprietorship, directors and partners along with the bank details and a certificate provided by the bank.
- In order to apply for an Import Export Code, one must compulsorily have a Bank Account and a Permanent Account Number (PAN).
- In case there is a need of some correction or change in the application, it is sent back. In that case one needs to reply back to DGFT in less than 15 days.
- After the application is approved, to the online applicants the allotted IEC is sent through emails and to the offline applicants through IEC allotment letters.
Documents Required for Import Export Code registration in Jaipur
All the documents are required only in the scanned form. You can attach the document in the form after the payment or e-mail it to us on documents@companyvakil.com. Feel free to get in touch for any query.
Following documents need to be submitted by the applicant for IE code registration in Jaipur:
- Self-attested copies of PAN card of applicant
- Passport sized photographs of the applicant
- A certificate issued by the applicant’s banker
- Details of applicant’s bank account
- Application form having every page duly signed by the applicant
- Date of formation of business
- Memorandum of Association (MoA), Articles of Association (AoA) or the partnership deed
- List of all the directors or partners along with their addresses and contact details
- Copies of company’s letter head
- Cancelled Cheque
- Certificate of Incorporation (in case of a company)
- Copy of property papers of the registered office of the business
- Copy of utility bills of the registered office of the business
Advantages and Benefits of Import Export Code registration in Jaipur
- Primary Proof: The IE Code gives the proof that this particular firm is an importer or exporter.
- Credibility: A business having an Import Export Code has a better credibility in market than those of its counterparts not having it. It is because an IE Code signifies the status of the business as involved in international transactions also.
- International Exposure: Having an IEC allows a business in international market as well thus providing the business with an international exposure and paving way for an effective expansion of business.
- No Return Filing:IE Code doesn’t have any need for filing for any sort of return. There is no need for filing a return with IE Code if an international transaction takes place.
- Easy to Obtain: An IEC can be obtained easily without much difficulty. It can be obtained by even those businesses which have not been registered yet.
- Inexpensive: Obtaining an IE Code is a pretty inexpensive process.
- Lifetime Validity: An IEC comes with lifetime validity and its holder does not need to apply for its renewal ever again. Therefore, it is free of the hectic work of renewing it every fixed period of time.
- Statutory Benefits: The government strives to encourage export activities and thus provides certain benefits to the IEC holders. The DGFT, customs, and Export Promotion Council provide a number of benefits on import and export.
TIME TAKEN in registration process
Import Export Code
Frequently Asked Questions about IEC Code Registration in Jaipur
Q.1. What is an Import Export Code?
A 10 Digit Code issued by the Directorate General of Foreign Trade to facilitate Import and Export in businesses is known as an Import Export Code.
Q.2 Can a single person obtain multiple IEC license?
No, a Single person cannot obtain more than one Import Export Code Registration in India
Q.3. Why is IE Code needed?
All Exporters are required to mention IE Code to the customs while exporting their goods out of India and All Importers are required to mention IE Code while clearing the customs.
Q.4. What is the penalty for not having IE Code?
IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code.
Q.5. Is there a tax levied based on Import Export Code?
No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied.
Q.6. How can I get a duplicate IE Code certificate online?
If you have taken IEC Certificate in new process e-IEC online, then you can download your certificate any time by login into the IEC portal with your username details. But if you had taken your IEC in physical process, you have to re-apply for e-IEC with all the documents and DGFT will provide you certificate in new online format.
Q.7. Are any monthly returns required to be filed under IE Code?
IEC is only a license permitting the import and export of goods. Therefore, no return is required to be filed under IEC code.
Q.8. How do I modify my IEC License?
In IEC license if you and your company wants any modification in details, then you can do it online through your IEC application. IEC modification required resubmitting the application with the DGFT once again with all the required documents. Also, IEC modification fee needs to be submitted with the department.
Q.9. What is the cost of registering IEC with Company vakil?
The total cost of registration of IE Code online in Jaipur with Company vakil is INR 1899.
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