What is IEC Code & fees in India ?
What is IEC Code (Import Export Code)?
An IEC Code is an alpha-numeric code ( instead of the 10-digit number allotted earlier) which is same as the PAN of an entity. It is issued to an importer or exporter by the regional office of Director General of Foreign Trade (DGFT).
The IEC certificate acts as an important document for your import and export business. This IEC code is an essential element for the global market to support business growth.
IEC registration is permanent registration which is valid for a lifetime. Hence, there will be no hassles for updating, filing, and renewal of IEC registration. It is valid until the business exists or the registration is surrendered.
Import Export License Fees / Cost to get IEC Code in India
As per the latest notification, IEC code Application fees is Rs 500/- which can be paid online through e-wallets/Net Banking/Credit or Debit Cards. Therefore the Government Fees or Official fees to get IEC Code in India is Rs. 500.
But what about the professional fees? The IEC Code procedure is carried out by many professionals to make it easier & time-saving process for you. The IEC code fees charged by many online portals/offline Agents is in the range of Rs. 3000-5000; whereas Afleo charges a professional fee of only Rs. 2000/- and guarantees you an IEC Code in 1 day. This is the Lowest Import Export License Cost in the market with a premium service.
Earlier a Digital Signature Certificate (DSC) was mandatory to apply for IEC Code. It was charged separately around Rs.1000-1500 for 2 years validity. As per the current notification, DSC is not necessary for IEC Application, which means an extra cost of Rs. 1500 is eliminated. It is an important step taken by the Government to ease the IEC Code process.
Therefore the total Cost to get an IEC Code in India will be Rs. 2860/- only [Rs. 2000 Professional Fees + Rs. 500 Government Fees + Rs. 360 GST on Professional Fees @18%]
Created & Posted By Aashima Verma
Accounts Executive at TAXAJ
TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you with a One-Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are:
Launch Your Start-Up Company/Business,
Trademark & Brand Registration,
Digital Marketing,
E-Stamp Paper Online,
Closure of Business,
Legal Services,
Payroll Services, etc. For any further queries related to this or anything else, visit
TAXAJ
TAXAJ Corporate Services LLP
Address: 1/11, 1st Floor, Sulahkul Vihar, Old Palam Road, Dwarka, Delhi-110078
Related Articles
Import Export Code Registration Documents
In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. However, doing business globally isn’t just a cup of tea for everyone. Before going global, you need to follow several procedures ...
Import Export Code Meaning
For every business to successfully transact an import or export transaction, you need to follow specific rules and laws. Import Export Code (IEC number) license is one requirement that a business must complete for an import or export business in ...
How to generate Import Export Code?
An import export code is a unique 10-digit code that is required for every import/export business owner in India. The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, and needs no filing or renewal. IEC is ...
How to Generate Import Export Code
In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. However, doing business globally isn’t just a cup of tea for everyone. Before going global, you need to follow several procedures ...
Import Export Code - Features, Benefits and Registration Process
Import Export Code - Features, Benefits and Registration Process Import Export Code or IEC is a 10-digit code that a business or a person needs to import/export goods/services. This code is issued by DGFT (Director General of Foreign trade), Ministry ...