Amendments to Importer Exporter Code (IEC)
What is Importer Exporter Code (IEC)? IEC is mandatory for import to India or export from India as it has the business identification number. Import Export license is one of such pre-requisite when you think of importing or exporting from India which is also known as the Importer Exporter...
All you need to know about “IEC Deactivated”
Introduction Let’s start right from the beginning, for those who are unaware of the term IEC, let me tell you it stands for Importer Exporter Code. If you are someone who works in the field of import and export or is somewhat engaged in it by any chance,...
Advance Authorisation – Self Ratification Scheme
Introduction If you are keen to obtain a crystal clear understanding of the Self Ratification Scheme, then you can refer to Para 4.07A of Foreign Trade Policy (2015-2020). Any person can easily get all the nitty-gritty of the scheme through the FTP. What is the Self Ratification Scheme all...
Clubbing of Advance Licenses
Introduction By the term clubbing, you must have received an idea of what are we going to talk about today. Ladies and gentlemen we are going to spill the beans on the process of clubbing of the Advance Licenses. According to the data of the Directorate Foreign of General...
Revalidation of Advance License from DGFT
Revalidation of Advance License from DGFT What is an Advance License? An Advance License is a license that is sanctioned by the Directorate General of Foreign Trade (DGFT) to the exporter so that the licence holder can import raw material / components under duty exemption. The Advance License enables...
Steel / Coal / Copper / Aluminum / Chip Import Monitoring System from DGFT-123
Steel / Coal / Copper / Aluminum / Chip Import Monitoring System from DGFT-123 Introduction There is a huge variety of goods and services that are imported daily. All these goods need to seek approval from the Directorate General of Foreign Trade (DGFT). DGFT is the main licensing head...
Export Obligation Period Extension of the Advance License
About Advance License Advance License enables the duty free import of inputs for manufacturing of export product. These inputs are physically included in the export. Besides all this, there are a few other materials such as fuel, oil, catalyst that are put to use to acquire the export product...
Procedure to Close Advance License
Procedure to Close Advance License About Advance License Scheme The Advance License Scheme was established by the government of India as a part of the Foreign Trade Policy to offer inputs and duty-free materials that are required to manufacture the export products. The government has previously launched various schemes...
Why Importer Exporter Code (IEC) in India?
Importer Exporter Code! Have you ever encountered the term IEC on Television, Newspapers, and thinking about what it means? Is it Independent Electoral Commission, Indian Economic Conclave, or Import- Export Code? Enrich providing the complete and basic guide about the importer exporter code is given. It would not only...
What is IEC and How to apply the IEC? | IEC updation details
What is IEC? The Importer-Exporter-Code (IEC) is an important trade identification number that is mandatory for exports or imports. Nobody is allowed to import or export, except under an IEC number assigned by the DGFT. In the case of the import or export of services or technologies, the IEC...