What is the use of iec code.how a person can exports the goods with the use of iec code without any tax or gst.
what shall i do to apply for iec code and can i also export my goods without any tax or gst if yes then what is its full prodecure plz explain fully
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IEC code relate quary
Replies (2)
1) IEC code is permission given by the GOVT of India for Import & Export Goods or services for For Import Export code (IEC ) you have apply online on web site Directorate General of Foreign Trade ,
2) In GST regime export of Goods are ZERO reated ,you can either export the goods by paying GST and claim refund or through LUT/ BOND ( subject to conditions) without payment of TAX .
3) you have take GST registration if you have not .
4) If you are sending through LUT /BOND without payment of then apply at GSTN web site www.gst.gov .
5) If you are exporting with payment of tax then Issue Invoice ,pay Tax ,file return ,and claim refund .
IEC Code is mandatory for Export.You have IEC code then, eligible for import export of goods
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