IEC stands for Import Export Code. If you want to grow the business beyond the traditional limits of the domestic market, IEC license is a prerequisite to export/import from India. Issued by the DGFT(Director General of Foreign Trade), IEC is a 10-digit code that is valid for a lifetime. Applications are generally processed within 10-15 days from the date of submission. The importer merchants can not import goods without the Import Export Code. Similarly, an export merchant will fail to avail benefits from DGFT for the export schemes without IEC. According to the requirements & instructions to get the Import Export Code, authentic information must be provided. Without it, one can not get the code. This checks the transportation of illegal goods.

The following situations demand IEC:

1. The customs authorities require IEC when an importer needs to clear his shipments from the customs.
2. When the importer needs to send money abroad through banks, the bank requires IEC.
3. The customs port needs an IEC when the exporter has to send shipments.
4. It is required by the bank when the exporter receives money in foreign currency in the bank account.

Documents Needed For IEC Registration

  • Copy of PAN Card or voter id or Aadhar card or passport copy(Individual/Firm/Company)
  • Voter ID/Aadhar card/Passport copy of individual
  • Individual’s/Company’s/Firm’s cancelled cheque copy of current bank account
  • Copy of Electricity Bill/Rent Agreement/ Copy of the premise
  • What is NITI Aayog Certification?

    It is mandatory for all the voluntary organizations/NGOs to register under Niti Ayog in order to receive grants under several schemes of government bodies/ministries/departments. To improve the ease of doing business and related social benefits which facilitate nation-building activities, a dedicated centralized portal is made available to NGO/VO. It allows for easy enrollment with the government and allows a centralized database to be maintained that aids in the formation of welfare activities as well as a smooth rollout of schemes.

    Documents Needed For NITI Aayog Certification

    The Registration process can be concluded in 4-5 working days. The following documents are needed for the registration purpose:

    – Details of Chairman/Chief Functionary/Secretary/Other Office Bearers;
    – KYC documentation of the above-mentioned persons; Aadhaar Card & PAN Card
    – Registration Certificate of the Organisation;
    – PAN Card of the Organisation
    – Articles & Memorandum of Association, in case of Company (Sec. 25 Sec. 8 or)

    What is DSC?

    DSC stands for Digital Signature Certificate. It is a digital key issued by the certifying authorities that serves the purpose of validating and verifying the identity of the person who possesses the certificate. Public key encryptions are used to make digital signatures. A DSC contains data about the user’s name, country, pin code, email address, date of issuance of the certificate, and the certifying authority.

    Documents required for Indian Individuals

    Indian citizens are required to provide proof of identity(PAN card, Passport, driving license, Attested Bank Account Passbook having photograph & signed by an individual, Post Office ID Card, Photo ID card issued by the Ministry of Home Affairs of Centre/State Governments)

    A Proof of Address must be provided as well [Voter ID Card, Aadhaar Card, Registration Certificate (RC)/Driving License(DL), water/electricity bill (should not be older than 3 months), latest Bank Statements(attested by an official from the bank), VAT Tax/Service Tax/Sales Tax registration certificate; or Property Tax, Corporation/ Municipal Corporation Receipt].

    To get the DSC certification for an organization, the process is a bit complex and it takes some time.

    Whatever your requirements are- be it IEC or NITI Aayog or DSC certification, KBP Advisory & Tax Consultancy can help you out. Reach out to us today to get all your queries answered!

    Mission

    Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque vitae massa et augue pharetra facilisis. Ut ac lacinia dolor. Praesent sed leo et dui rhoncus finibus vel pulvinar nisl. Maecenas fermentum iaculis laoreet. Praesent sed leo et dui rhoncus finibus vel pulvinar nisl.
    Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque vitae massa et augue pharetra facilisis. Ut ac lacinia dolor. Praesent sed leo et dui rhoncus finibus vel pulvinar nisl. Maecenas fermentum iaculis laoreet. Praesent sed leo et dui rhoncus finibus vel pulvinar nisl.
    Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque vitae massa et augue pharetra facilisis. Ut ac lacinia dolor. Praesent sed leo et dui rhoncus finibus vel pulvinar nisl. Maecenas fermentum iaculis laoreet. Praesent sed leo et dui rhoncus finibus vel pulvinar nisl.

    LET’S WORK TOGETHER

    We work as a single united team with market leading firms around the world and give our clients the highest quality advice possible.

    MAKE ENQUIRY