IEC Registration In Delhi
What Is IEC Registration?
IEC is a system of registration for the various types of import and export of products between nations. It was first introduced in India in 1970. IECs were first implemented for the goods imported into the country from abroad. The functioning of IECs was made mandatory by the external trade commission. From then on, it has grown tremendously.Initially, the main purpose was to create a uniform system for the trade in goods. Now it has become an important instrument for both importers and exporters to promote their product to the market. IECs were first allowed for the goods imported from outside. Later on, they were extended to the goods to be transported in the country.
With time, the list of items for IEC registration in Delhi has grown significantly. Previously, only automobiles, trucks, boats, textile items, electrical components, petroleum products, and food grains were registered. But now all these have been added to the list, along with many other categories.
How To Apply For Import Export Code In Delhi?
IEC registration in Delhi takes around four working days, depending upon the quantity of the item to be imported or exported. However, this can be extended if the exporter has already approached the government authorities and given the necessary documentations and paperwork. There are three registration processes: standard, regional and system codes. The standard process involves IEC application form, declaration of the goods by the exporter, and payment of the requisite custom duty and other relevant taxes. This is followed by the clearance and delivery of the goods within the designated period.
Regional and system codes, on the other hand, are different from standard. They are used to classify the type of goods that are to be transported or shipped within a particular area. Generally, the services are offered under the general heading of import export and involve the processing of documents and registration of the goods, the right of export, and payment for the said service. However, the system codes may also be used to differentiate between various categories of goods. For instance, if you want to transport agricultural produce from one part of the country to another part of the country, then the agricultural produce will be placed in the import-export category and the machinery used in the process will be classified under the agriculture-related category.
Irrespective of the process applied, goods that are to be transported or shipped must be packed properly. They should be covered with a packing slip that contains the IEC numbers of both the importer and the transporter as well as any other information required by the government. In case the goods are to be delivered within India, then the customs duties will be paid according to the rates mentioned in the "duty schedule of India". However, this will vary from time to time. So it is important that all the paperwork is completed in order to start the import/export process.
How To Find IEC consultants in Delhi?
Searching for IEC Consultants In Delhi NCR? If the goods that are to be imported are goods that are inflammable, then you have to obtain IEC declaration cards for each individual item transported. This will help you to track the shipment and control the movement of the goods within India. Goods that require special handling will also need IECs for transport; if the items are being transported for personal or household use, then the IEC declaration card for the items will not be required.
Irrespective of whether you are planning to set up an import-export business or just want to import goods for personal or household use, then you must know about IECs. If you are a business owner, then you must have a valid IEC Registration from Delhi. You can either approach the customs or the department of revenue or you can consult IECS India for IEC Registration in Delhi. IECs are also required for exports from India to foreign countries.
