What is IEC Code

Hello friends, today we are going to talk about business whenever we think about starting our own business, firstly it comes to our mind that where we buy goods for business then Our first choice is China, because they provide very cheap and good quality products.

Nowadays every businessman deals with China, because the goods are available at very low prices and the quality is good but it is not easy to import product from China, there is a lot of legal process for it.

Third party image reference

Nowadays, many websites on the internet are available from which you can buy anything from China. Like mobile phone , electronic gadgets but you are not able to order these products in bulk if you don't have IEC(import export code) this is unique number that are issued to bussiness. Which are used by businesses to import products from another countries and to export to another countries.

Government also records every transaction that are done using IEC Code. If you don't have IEC Code for your business and you ordered product in bulk to import from another country Government's Custom Department will Seize your products and also fined you. So it's necessary to get IEC Code from government if you want to import products for your business from another country.

How to Apply IEC

 If you want to Apply for IEC first of all you have a Valid GST number. If you don't have GST then first apply for it and  when you got it then apply for IEC. You can apply for IEC via CA ( Chartered Accountant) or Apply themself by online.
What is IEC Code What is IEC Code Reviewed by info invent on January 09, 2019 Rating: 5

No comments:

Powered by Blogger.