Iec code application

Save Share

This query is : Resolved

BHAI(SAI) DUPARE (Querist)
Follow

19 January 2012 i am going to apply for IEC code , my bank is suggest to me open current account first because business transaction not possible through saving account, RBI will be rejected your transfer fund
but as per application IEC possible from Saving account also. so please suggest me

Regards,
Bhai Dupare

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

20 January 2012 REFER TO ANF-2A,APPENDIX-18,

THIS IS MENTIONED SAVING / CURRENT ACCOUNT.

PLEASE NOTED THAT AFTER OPEN A/C either SAVING OR CURRENT BANK WILL OPEN EEFC ACCOUNT FOR MORE INFO:

Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer i.e. a bank dealing in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.

BANK CONVERT IT EEFC ACCOUNT.

All categories of foreign exchange earners, such as individuals, companies, etc. who are resident in India, may open EEFC accounts.

MORE INFORMATION LINK IS:

https://www.rbi.org.in/scripts/FAQview.aspx?Id=21

Message likes : 1 times

BHAI(SAI) DUPARE

BHAI(SAI) DUPARE (Querist)
Follow

21 January 2012 thanks for valueable information.... but i am not going to start big volume importing business. so i am going with normal account registration....
just tell following information:

1. international payment through saving account is allowed by rbi or not? ( because iec is possible with Saving but bank suggest me it will rejected by RBI)
2. delivery address different than IEC registration address , is it permissible or not?

thanx in advance

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

21 January 2012 refer to appendix-18 in ANF-2A , bank convert it EEFC ACCOUNT, which is already asked by me if you have not understood put up RTI LETTER IN THIS CASE.

DELIVERY ADDRESS MEANS WHICH IS MENTIONED IN YOUR BANK ACCOUNT, IT CAN NOT DISPATCH IN BRANCH OFFICE OF APPLICANT COMPANY.,
REGARDS,

Message likes : 1 times

BHAI(SAI) DUPARE

BHAI(SAI) DUPARE (Querist)
Follow

21 March 2012 today i submit online application to DGFT mumbai so please guide me is there having option sent hard copy by post is yes then please give me some details which documents should be submited and delivery address

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

21 March 2012 bhai, in this regards as per interaction with FTDO cla, new delhi inform me that hardcopy is not mandatory in Department.

regards,

BHAI(SAI) DUPARE

BHAI(SAI) DUPARE (Querist)
Follow

21 March 2012 sir, but i got message " Hard Copy not Submitted" on DGFT site when i check status

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

22 March 2012 in view of above, u can submit documents as per Message Genarated .

Regards,

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now