IEC is entity-specific and is independent of units, offices, factories, divisions or products. One IEC is applicable to all such units the entity owns.
Procedure would be the normal application, but in some cases, RBI permission would be required. Required Documents – Board Resolution, Memorandum of Association, copy of Passport
NRI has to follow the normal application procedure. In addition permission from RBI/ FIPB is needed in some cases
It is not mandatory to have a registered business entity to apply for IEC. An individual can apply for IEC as a proprietor
Yes, PAN is mandatory. Self Certified Photocopy of PAN card has to be submitted along with the application
IEC enables the exporters to claim the applicable benefits from the Customs, DGFT, and Export Promotion Council.
No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer
Any entity or individual involved in international trade are required to get Import Export Code, except for the following categories of importers or exporters: Importers covered by clause 3(1) [except sub-clauses(e) and (l)] Exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993. Ministries/ Departments of Central or State Government. Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture. Persons importing/exporting goods from/ to Nepal, Myanmar through Indo-Myanmar border areas and China (through Gunji, Namgaya Shipkila, and Nathula ports), provided…
Export is exempted from GST, hence you do not need to apply it while raising an invoice. However, you will need to submit a letter of Undertaking detailing the foreign funds you will be receiving and you will get an exemption from paying the corresponding GST to the government.
You need to apply for a new registration as separate vertical under GST for your additional place of business i.e. the SEZ unit/ SEZ Developer because SEZ has separate registration requirement under GST. You need to select SEZ Unit or SEZ developer in the reason for registration. You are also required to upload the necessary certificate /documents issued by the Government of India in the principal place of the business tab to substantiate the claim.