What is the cost of import & export license in India?
Import Export License Fees / Cost to get IEC Code in India As per the latest notification, IEC code Application fees is Rs 500/- which can be paid online through e-wallets/Net Banking/Credit or Debit Cards. Therefore the Government Fees or Official fees to get IEC Code in India is Rs. 500.
Do I need import license for importing from India?
There is no need to obtain any import license or permission to import such goods. Most of the goods can be freely imported in India. The list of restricted goods is provided in ITC (HS). An import license is valid for 24 months for capital goods, and 18 months for all other goods.
Do I need a Licence to export from India?
For the export of any goods classified as ‘restricted goods’ in this ITC-HS list, an Export License is required. In the case of prohibited goods, an Export License is not given, while restricted goods can be exported by businesses granted an Export License.
Who can apply for import export license in India?
You need to apply for an Importer Exporter Code (IEC) if you want to import or export anything to and from India to other countries. Technically speaking, IEC is a 10-digit number granted by the Directorate General of Foreign Trade (DGFT) to any Indian entity seeking to do international trade.
Do I need import license to buy from Alibaba?
You don’t need to have a company or any special credentials to use Alibaba. You don’t need a sellers permit, a website, a corporation nada. In fact, most Alibaba wholesale suppliers don’t care who they are working with as long you buy in bulk, pay on time and order on a consistent basis.
Can I export without license?
Exports Free unless regulated The Director General of Foreign Trade (DGFT) from time to time specifies through a public notice according to which any goods, not included in the ITC (HS) Classifications of Export and Import items may be exported without a license.
Is Gstin mandatory for IEC?
There is no need to update or incorporate the GSTIN in the IEC. However, it is informed that all IECs issued with effect from 1.07. 2017, would reflect PAN as IEC.
Can I import without IEC?
An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted.
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