IMPORT EXPORT CODE (IEC) REGISTRATION

While walking through the journey of an entrepreneur, one finds that opening of a business along with its registration and obtainment of license is vital. The business of import and export is no exception.  Like for every other business, business of Import and Export also requires a license in the form of a 10 digit registration number called the Import Export Code, for the hurdle-free future execution of its orders. One may know this code by various other names such as importer exporter code, import export license, import export number. One is not allowed to import or take up the benefits of export without getting this code issued by the appropriate authority i.e. the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India, on filling an online application in form ANF-2A with any regional office of DGFT. It finds its cover under ambit of the provisions of the Foreign Trade Act, 1992.  This code can be issued either under your personal name or the company’s name, by paying the requisite registration fee. Without obtaining this license, one can find the path to be quite thorny filled with various commercial jargons and international trade legal procedures hampering any procedure while carrying out their business smoothly.