Import Export Code

IEC for Exporting Vegetables From India to Nepal

India has been witnessing an increasing trend of traders opting to export vegetables to Nepal. There’s a lot of money to be made in the exciting world of foreign trade for those who are interested in exporting vegetables to agriculturally disadvantaged nations.

The import-export licence is required for exporting vegetables to Nepal from India. Additionally, the import-export code (IEC), a 10-digit identification number, is a mandatory requirement for every import/export business owner in India. Moreover, it is not even necessary to show any import or export activity to obtain the IEC. Simply put, if you do not have an IEC, then you cannot export vegetables to Nepal.

What Is the Application Fee for an IEC in India?

  • No fee for filing the Aayaat Niryaat Form
  • No fee for filing the DGFT application form 
  • ₹1499 if you do not have your DSC or your Aadhaar card linked to your registered mobile number. A DSC is mandatory if you do not have your Aadhaar card linked to your registered mobile number
  • A nominal professional fee of ₹500 is also directed by the government.

Benefits of IEC Registration

When you apply for an IEC in India, you can get certain benefits such as –

  1. IEC registration opens opportunities for traders to venture into the global marketplace
  2. IEC has lifetime validity. You do not need to renew it periodically
  3. Additionally, return filing is not mandatory for IEC registered traders. Moreover, you don’t even have to file your export/import transactions with the DGFT
  4. You can avail benefits under different government schemes such as exporting subsidy, Service Export from India Scheme (SEIS), Merchandise Export from India Scheme (MEIS), and other schemes as and when provided by the Department of  Customs and Exporting Promotion
  5. Most importantly, the compliance burden on IEC registered businesses is relatively lesser than that for unregistered entities.

When Is IEC Code Not Required?

You are exempted from obtaining an IEC code if the following conditions are satisfied:

  • As per the latest government circular, a trader does not require an IEC if he has a  GST registration. In such cases, the PAN of the trader will be considered as his IEC
  • If you are exporting vegetables to Nepal for personal reasons not connected to any commercial activity
  • If you are not dealing in the export of organisms, special chemicals, materials, types of equipment & technologies (as listed in the appendix – 3, schedule 2 of ITC)
  • Additionally, if you are exporting vegetables or goods to Nepal in a single consignment whose value does not exceed ₹25,000.

How to Apply for an IEC Online

Here is the step-by-step guide to applying for an IEC code:

STEP 1

Visit the online portal of the DGFT. Click on the  ‘Apply for IEC’ tab. https://www.dgft.gov.in/CP/

STEP 2

You will then be redirected to an online IEC application form where you will need to fill up personal details such as name, mobile number, email ID, etc. Following which an OTP will be sent to your registered mobile number. Enter the OTP in the space provided and click the ‘Submit button.

STEP 3

On the next page, you will need to submit various details related to your business such as date of establishment, PAN, bank account details, etc. 

STEP 4

In this step, you will need to pay the requisite IEC application fee through an electronic fund transfer. 

STEP 5

After successful payment, you will need to upload digital copies of the documents required.

STEP 6

In this next step, you will be asked to submit the completed IEC application form. On successful submission, an Ecom reference number will appear on the screen.

STEP 7

Take a print of the completed form of the IEC. As you will need to submit it to the appropriate DGFT office having jurisdiction over your operation.

STEP 8

On successful verification of your credentials, your IEC will be issued within 3 to 7 days.

Ensure smooth and hassle-free IEC procurement through Vakilsearch’s dedicated representatives who will collect, verify, cross-check, and file all the required documents on your behalf. Moreover, all efforts will be made to coordinate with the DGFT for expediting your IEC application process. Get in touch with us today!

Also Read:

 

0

Back to top button

Adblocker

Remove Adblocker Extension