IEC Registration in Coimbatore
IEC registration certificate has been provided by the Directorate General of Foreign Trade (DGFT) which falls under Ministry of Commerce and Industries. We Earnlogic is the best searched consultancy in the city. Our reputed firm has extended its remarkable services in various places like Saravanampatty, Ganapathy, Gandhipuram, Thondamuthur and Veda Patti. The IEC registration in Coimbatore is done through Earnlogic and the certificate is provided by the norms of DGFT. Many of the business people who take part in the import and the export business and people who do the money transfer across the nations need this IE code. There is no need of return filing in the case of the IEC registration. The IEC forms are the primary documents which gets the recognition in the eyes of the Indian Government.
The IEC registration in Coimbatore is done through Earnlogic under the norms of the government. The IEC registration is permanent until they surrender or cancel the IEC and there is no need of renewal and no need to file any periodic returns. Hence there are no compliance requirement for the IEC. Since the registration is an online process, it is quite easier to obtain and the service is available for the user 24x7. When the beneficiary has obtained the registration, then various incentives, subsidies and multiple schemes are available. Any of the individuals can obtain the IEC registration in Coimbatore in their own name. It does not require to form an entity or a company to get the IEC registration. The IEC registration also helps in the entry of the global economy. It opens up the doors for all the entrepreneurs who wish to expand the business globally. When the business is expanded commercially, then it paves the way for finding new customers and can set the mark of the business at an international level.
Documents required for IEC registration
- Bank certificate in the prescribed form of ANF-2A.
- Cancelled Cheque
- Address proof like electricity bill, Voter ID card, passport
- PAN card
- Sale deed
- If the location is on rent then rental agreement or NOC should be provided.
Benefits of IEC registration
- PAN based registration
- Benefits of the schemes and subsidies
- No annual maintenance
- Global market reach
- Life time validity hence there is no need of the renewal.
- Most importantly it reduce the illegal transportation.
The major benefit can be experienced in the importing is the reduction in the manufacturing costs of the product. Many businesses find that importing products such as smart phones, car, bike, computer etc. are more affordable and comparatively cheap than producing them in the respective country.
IEC is not required under specific circumstances. They are
- Importing or exporting of goods will not be applicable for personal use which means it is not connected with the manufacture or agriculture and trade.
- Import or export which is carried out by government ministries and departments and some specified charitable organisation would not be allowed in this process.