What is Import Export License fee?

Posted by aakk750351 on December 4th, 2018

If you intend to start an import and export business in India, then the first thing you are required to do is to procure IEC registration. In fact, it is mandatory when your import or export business is related to services or the latest technologies.

Now that you have planned to obtain the IEC license before commencing import or export business, then you must be willing to know the IEC registration fee. We will definitely, discuss that too but before that, it's essential to discuss the benefits of obtaining IEC license and the documents required for the same. So don't go anywhere, keep reading.

Benefits of obtaining Import Export License

There are a plethora of benefits that businesses can avail by obtaining Import Export Code. Generally, import export code is a 10-digit number which issued to any person or company by the Director General of Foreign Trade (DGFT), part of the Ministry of Commerce and Industry so that he may carry his Import Export business in India smoothly.

Below find the benefits of IEC registration:

  • Helps to widen the business: With IEC license, people can easily extend their business and its products or services to the global market.
  • No return filing: One of the biggest advantages of IEC is that it doesn't call for any filing of returns. You won't require any follow-up for sustaining its validity, once you have obtained IEC code.
  • Various embedded benefits: With IEC registration, businesses can avail various benefits on import and export from the DGFT, Export Promotion Council.
  • No need for license renewal: IEC code holds validity for a lifetime. Therefore, once you have obtained the IEC license, you don't need to renew it again.
  • Easy and timely processing: Once you have submitted the application, you don't have to wait for months. You will get your IEC code from the DGFT within just 10-15 days of the application submission. Moreover, you won't have to provide any proof for import and export for getting the IEC license.

Documents required for IEC Registration

There are just a few documents required for obtaining an IEC license. They are as follows:

ü  Scanned copy of the PAN card;

ü  Scanned copy of the Aadhaar card or Election ID card or Driving license;

ü  One canceled cheque of current bank account;

ü  Electricity bill or water bill or utility bill;

ü  Rent agreement of the registered address or electricity bill of the premise.

Import Export License Fee

Before applying for IEC license, you must ensure that you're eligible for it. If you're eligible, then you can submit an application with the Directorate General of Foreign Trade (DGFT). You will receive the IEC code within 10 to 15 days of the form submission. The import-export license fee that we charge is only Rs. 2499 which is pretty less as compared to our competitors.

Therefore, if you're looking to get IEC registration in India done at a fairly low price, then contact Enterslice. Our experts will guide you throughout the process and get the registration done without any hassle. 

Source url - https://enterslice.puzl.com/_news/What-is-Import-Export-License-fee/137989

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