An Import Export License is a document issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is a mandatory requirement for businesses engaged in import and export activities.
The Import Export License, also known as an Import Export Code (IEC), is a 10-digit code that serves as a unique identification number for the business. It is issued once and is valid for a lifetime, unless it is suspended or cancelled by the DGFT for non-compliance with import-export regulations.
The Import Export License is required for various import-export related activities, such as:
- Importing or exporting goods or services from India
- Participating in international trade fairs or exhibitions
- Exporting goods for personal use or gifting purposes
- Making payments in foreign currency for import or export of goods or services
- Applying for benefits or subsidies under the Foreign Trade Policy
The process to obtain an Import Export License involves filling out an online application form and submitting the required documents, including proof of address, proof of identity, and bank account details. Once the application is approved, the Import Export License is issued within 1-2 weeks.
Having an Import Export License helps businesses participate in international trade and expand their business globally. It also helps businesses to avail of various benefits and schemes offered by the government under the Foreign Trade Policy.
Frequently Asked Question | Import Export License Services by Aggarwal M & Associates
An Import Export License permits businesses to engage in cross-border trade. Aggarwal M & Associates offers guidance and assistance in obtaining Import Export Licenses to ensure compliance with international trade regulations.
Businesses engaged in importing or exporting goods and services need an Import Export License. It’s vital for legal compliance, customs clearance, and maintaining smooth international trade operations.
Our firm boasts extensive experience in assisting businesses of various sizes and sectors with obtaining Import Export Licenses. We understand the intricate procedures and documentation involved.
Absolutely, we provide comprehensive guidance throughout the process, from determining the appropriate license type to preparing required documentation and filing applications.
Having an Import Export License allows businesses to participate in global trade legally, expand market reach, access international suppliers, and establish a competitive edge.
Yes, we offer assistance in obtaining both Import and Export Licenses. Our experts ensure businesses meet the requirements of their chosen trade activities.
Our team meticulously reviews and compiles all necessary documentation, ensuring accuracy and compliance with regulations. We monitor application progress and follow up with authorities to expedite the process.
Absolutely, we specialize in assisting businesses in obtaining licenses like IEC (Import Export Code), a crucial requirement for engaging in international trade.
The processing time varies based on factors such as the license type and government authorities’ response. However, our experienced team aims to expedite the process as much as possible.
Our services ensure businesses navigate the complex world of international trade regulations seamlessly. We provide expert guidance, ensure compliance, and help businesses establish a strong footing in the global market.