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Iec code - please just answer me 5 questions

1100 views 1 replies

Ajth

Office staff

45 Points Posted on 18 August 2012

Dear all, please help me on below

1. What is IEC code and what are the benefits of having an IEC code?

2. I am not a regular importer, but i quite often (once or twice in a year) buy electronic goods and movie DVD's (only a single item at a time) through online seller (mostly ebay) for my personal home use. So do i need to get an IEC code?

3. Next time i am planning to buy an Audio Video receiver/Amplifier worth $400 from ebay seller. Please let me know will it be beneficial if i have an IEC code?

4. How to get an IEC code and what are the procedures for getting. Do i have to spend money for getting an IEC code?

5. How much will be customs duty payable for an Audio Video receiver/Amplifier worth $400?

Replies (1)

RAMESH KUMAR VERMA

CS PURSUING

43853 Points Posted on 18 August 2012

IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade , Ministry of Commerce, Government of India to Indian Companies.

Full From of IEC Code is : “Importer Exporter Code ”. To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number.

as per provision laid down in handbook of procedures vol-1 para 2.8(iii) the IEC is exempt if they are importing through IEC is not mandatory this condition.

more info:

https://www.nfpl.net/pdf/procedure%20for%20import%20and%20export.pdf