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Import Export Code Registration in Hyderabad:- A guide for exporters
Import Export Code registration in Hyderabad is the process of obtaining a unique identification number for import-export businesses located in Hyderabad. It is crucial for all types of import-export operations, regardless of whether they are small-scale enterprises or large corporations. According to the guidelines of the Directorate General of Foreign Trade (DGFT), exporters of goods and services must obtain an import-export registration in Hyderabad before commencing their business activities.
Obtaining an Import Export Code in Hyderabad is advantageous for local brands seeking to establish their presence in the global trade market. Therefore, Import Export Code registration plays a significant role for import-export entities in the newly established state of Hyderabad.
Grow My Vyapar offers assistance in obtaining import-export code registration or an IEC certificate for your business in Hyderabad quickly, easily, and at the lowest possible price, ensuring a hassle-free process.
Import Export Code Registration in Hyderabad - An Overview
Import export code Registration in Hyderabad | Details |
|---|---|
Time taken to Register with DGFT for IEC code license in Hyderabad | 3- 4 business days |
Documents Required for online IEC code registration in Hyderabad |
|
Online IEC Code registration fees in Hyderabad | Rs 1,299 |
How to apply for Import export code registration in Hyderabad |
|
Mode of Application for Import export code license in Hyderabad | Online Application |
Renewal of IEC code Registration in Hyderabad | Annually |
Purpose of acquiring Import Export Code Registration In Hyderabad ?
Obtaining an IEC code in Hyderabad is a mandatory prerequisite for all import-export businesses operating in the state, regardless of their size and turnover. Additionally, acquiring an IEC code in Hyderabad facilitates businesses in obtaining a valid Registration Cum Membership Certificate (RCMC) for their respective Export Promotion Council and other boards in India, such as APEDA registration or FSSAI registration.
Few of the following board and registration that require IEC code certificate for import and export
| Particulars | IEC code required for |
|---|---|
| IEC code registration |
|
Having an IEC code can help your business getting these various certificates & membership to expand your global exports.
Documents Required For IEC Code Registration Online
The following documents required to obtain an online import export code registration in Hyderabad to commence export business.
- PAN of entity
- Applicants entity’s address proof such as utility bills
- Certification number of registered business
- Passport size pic of applicant
- Bank details of business entity
- Cancelled cheque also required
- Applicants identity proof such as Aadhar card
Fees For Import Export Code Registration in Hyderabad
The Fees for Import Export Code registration in Hyderabad including government fee is ₹ 1,299 only/-
Breakdown of Fee for Import Export Code in Hyderabad
| Particulars | Fees for IEC code registration in Hyderabad |
|---|---|
| Govt fee along with filling up with DGFT | ₹500 |
| Professional Charges for application | ₹799/- only |
| Total cost of registration | ₹1,299/- only |
Process of online IEC code Registration
The process of registration with DGFT for import export code can be classified into 4 steps. You can get your license in no time once the application is successfully filled with the director general of foreign trade.
Documentation:- Provide all the relevant documents and details in order to get your IEC code certificate with the DGFT. If the details given by applicants do not satisfy the criteria for registration then the application will be rejected by the DGFT.
Application:- Once all the relevant details and documents are provided, our exports will file for an IEC code registration online with DGFT and fill in all the details with relevant documents.
Verification of DGFT:- The provided details and documents will be cross verified by the licensing authorities in order to grant iec code certification to the import or export.
Issuance of IEC code:- Once the verification is done, the director general of foreign trade (DGFT) will issue the valid import export code for the respective applicants. The IEC code certificate can be used to commence import-export oriented business as well as to acquire membership of various export promotion councils in India.
Renewal of Import Export Code certificate in Hyderabad
The validity of Import Export Code in Hyderabad is up-to 1 year only and to be renewed each year.
Benefits of Import Export Code Registration in Hyderabad
1. Global Market Access
An IEC code registration allows your business to access the international market. Without an IEC, your business would not be able to export or import goods to different countries. With an IEC registration , you can easily participate in international trade and expand your customer base.
2. Easy to Obtain
The IEC code registration is a straightforward process, and obtaining it is relatively easy. You can apply for an IEC code online, and the process usually takes around 3-4 working days. This means that you can start importing or exporting goods quickly without any unnecessary delays.
3. Exemption from GST
If you’re an exporter, you can claim GST exemption on the goods that you export. However, to do this, you need to have an IEC code registration. Without an IEC code, you’ll have to pay GST on the goods you export, which can be a significant expense for your business.
4. Increased Credibility
Obtaining an IEC code registration can increase your business’s credibility. It shows that your business is authorized to participate in international trade and has complied with all the necessary regulations and guidelines. This can give your business an edge over your competitors and attract more customers.
5. Access to Government Benefits
An IEC code registration can also provide your business with access to various government benefits and schemes. For example, the government provides various incentives to exporters, and to avail of these benefits, you need to have an IEC code registration.
6. Ease of Doing Business
The Indian government has been taking several steps to ease the process of doing business in the country. Obtaining an IEC code registration is one of these steps. By simplifying the process of obtaining an IEC code, the government is making it easier for businesses to participate in international trade and contribute to the country’s economic growth.
Key Takeaways :- Points to remember for IEC Code Registration
- Import Export Code registration in Hyderabad is valid for 1 year
- Renewal of IEC Code registration is due for each year
- Applicants must provide correct details to avoid rejection of application
- IEC code can help Import or export products in other countries
- IEC helps exporters in acquisition of registration cum membership certificate from various export promotion councils and controlling bodies of goods and services in India
Conclusion
For business owners engaged in importing and exporting goods and services, acquiring an Import Export Code registration in Hyderabad holds significant importance. This registration offers several advantages such as global market accessibility, exemption from GST, enhanced credibility, access to government incentives, and a streamlined business process.
If you have aspirations of expanding your business on an international scale, obtaining an Import Export Code registration in Hyderabad serves as the initial and crucial step towards establishing a flourishing import-export enterprise.
FAQs
The online Import Export Code registration in Hyderabad is a process of getting an authorized identification from DGFT to commence import export business in India.
The fee for IEC code certificate is 1,299 only
Importer exporters of all kinds require Import Export Code registration in Hyderabad.
Yes, Import Export Code is mandatory to get FSSAI license for import in Hyderabad.
The Import Export Code is valid for the period of 1 year only.