IEC Certificate is also known as Export License, Import License, IE Code, IEC Code, EXIM License, and EXIM License. As a result of the implementation of GST, the IEC issued is the same as the firm’s PAN. The nature of firm that obtains an Importer-Exporter Code may be any of the following: proprietorship, partnership, LLP, limited company, trust, HUF, or society.
When will there be requirement of IE code?
At following instances, the IE Code would be required:
- When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
- When an importer sends money abroad through banks then it’s needed by the bank.
- When an exporter has to send his shipments then it’s needed by the customs port.
- When an exporter receives money in foreign currency directly into his bank account then submission of Importer-Exporter Code is required by the bank.
When it comes to obtaining a Certificate of Importer Exporter Code,Indilens Web Solutions can assist you with the necessary documentation, on-line application filing, and coordination with the appropriate authorities.