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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

akshaye1982
Community Member
The following instructions are to be followed while filling-in the application form for the grant of Importer-Exporter Code Number.

STEP 1:

Goto: http://www.ap.nic.in/jdgft/iec.htm

Costs Rs. 1,000 only by DD + Rs 50 (max) for postage stamp. Please do not go to a broker and land up paying 10 grand for this job :-p. Turn around time is about 3-5 weekdays :-D.

STEP 2:

Prepare your documents. Make a checklist of required documents (there are 3-4 options, selects what may best suit you). Goto your Chartered Accountant :-x and he will process the legalities as far as agreements/ taxation/ current account number/ PAN no. (company PAN number necessary) etc. Approx. cost you Rs. 2000 or less excl the bank deposit (a/c opening). The whole process can be complete within 2 weeks ;-).

STEP 3:

Download the IEC form here http://www.ap.nic.in/jdgft/downloads_new.htm

STEP 4:

Prepare a DD of Rs. 1,000.

Read the application form instructions carefully. attach photographs and relevant documents. Sign each page of the appl form.

A self addressed stamped envelope for dispatching of the IEC by Speed Post.

Other imp resources: http://dgftcom.nic.in/exim/2000/indexapp.htm

LICENSING AUTHORIY IN BANGALORE (KAR JURISDICTION)
;\ Address of The Joint Director General of Foreign Trade,C & E Wing, 6th Floor, Kendriya Sadan, 7th Main, Road II Block, Koramangala,2nd Block Bangalore 560034 Tel:080-5537213/14/15Fax:080-5537214E-Mail bngdgft@kar.nic.in

DISCLAIMER - I am new to eBay and did not find any relevant information on the community board. This is extract is research on the relevant websites and a short chat with my CA. This is the correct procedure however I am yet to apply for this myself. But then I am not willing to get conned by agents for 9 Grand when I can do the job my friendly CA and myself. At last, if you have a more detailed guide, which I will post after I receive my IEC number, please don’t hesitate to share it with the community. Other users of my guide please follow these instructions unless you have a better source. I will vet your comments for improving this GUIDE for future entrepreneurs. Unless I give a go ahead please do not follow another thread. PEACE! ?:|

Good luck and have fun. B-)
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

akshaye1982
Community Member
Hi again,

SUB - IS IEC IMPORTANT FOR OCCASSIONAL SELLING??? NOW ANSWERED...

For occassional selling of your items in the international markets you can set what I call 'LIMITER' You can design your won LIMITER. Its nothing but a cut-off mark (sales/ number of items etc). Once you have decided that example - Item A priced at Rs 500 is item 1 and you decide that your LIMITER = Rs 5000 after which you will apply for IEC.

MYTH - IEC may be avoided.

REALITY - you cant try your luck with custiom officials every time you ship an item. Maybe a couple of times you would get lucky and give them 'dhaaps'. But someday your stuff will get stuck. It just takes max 3 weeks of effort and max Rs. 3,500. Doin this your business is totally legal and you are paying your taxes. Now you are a proud and confident eBay seller and a good citizen.

DISCLAIMER -
if you have any comments, please don’t hesitate to share it with the community. Other users of my guide please follow these instructions unless you have a better source. I will vet your comments for improving this GUIDE for future entrepreneurs. Unless I give a go ahead please do not follow another thread. PEACE!
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

Dear Akshaye

Please tell me, do I need an IEC code if I want to buy electronic goods thru ebay from abroad ?

As I will be purchasing for my personal use, I thought I would not require a IEC code.

But the experience of a buyer who received his CD after 2 months from USA after paying Rs.3000 to customs(who have no time to listen to u), has really shocked me.

Please tell, will I have to pay duties for importing even if I have an IEC code ?

Thanks!
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

akshaye1982
Community Member
Hi Das,

Off hand I can tell you that it is more important for the SELLER to produce valid documents. The seller needs to provide the correct documentation so that your item won't be held or delayed by customs. The carrier can easily arrange for customs clearance before the seller ships.

Accurate documentation such as an invoice is required for shipping anything other than letters and documents.

There may be additional fees related to customs. You should discuss these with the seller and determine who will pay those fees.

Please await further followups on IEC for your query.B-)
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

Dear Akshaye

You must have read about the buyer(about whom I mentioned) and his encounter with the customs officers.

What can a person do in situations like that when he knows that he is not supposed to be paying penalty but has to do it.

Even if the seller has given valid documents, do you think the buyer may have problems releasing the item from customs ? I am not saying I will not pay tax!

Do you consider it better to use a reputed carrier like FedEx or DHL instead of USPS for handling customs here.

Thanks!
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

akshaye1982
Community Member
Hi again,

Well, i will, i think pay a visit to the customs office and STPI for the exact info and will post it for you. However, you have a legal right to question the custom officials (in a decent manner) the reason(s) for such unfortunate situations and other possibilities. This is my best answer at the moment.

You are right about the freight forwarders. UPS, DHL, FedEx are THE best guys to rely on. If your seller is giving you these options then you are safer than those other local agencies. My guess is that, as the TV spot goes (DHL Tagline - We know Asia bla bla...), they would have their links (HUsssshhh). LOL.

I will post further inputs for you in 10-15 days as I will be out of town. But keep urself updated in the meanwhile, i might have some inputs most likely within this week or the next...

CHEERS!;-)
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

emailswarup
Community Member
Hi akshaye1982,
Your posting will really be helpful for many members. I had done exactly the same to get my IEC (though not related to my ebay operations).
The only thing I want to add is that for a person with running business (with Current A/c , PAN etc) won't even have to visit the Chartered Accountant as filing the form will be very easy for such situation.
Thanks for the posting. Best Regards 🙂
Swarup Dutta
Kolkata
.
Best Regards 😄
Swarup
Kolkata

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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

cprkshm
Community Member
Is it simple to sell products to abroad - I mean how about controlling shipping charges, filling export documents - does the cost work out, Can we sell garments and underclothing from unorganised sectors especially unbranded (maybe tailored). Can someone guide me please. Thanks in advance.
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

e-shopz
Community Member
hi
i sold a laptop to a person in sweden , now to send the product do i need any formalities or just parcel and send?
thank u -srikanth
e-shopz
-srikanth
e-shopz
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'Importer Exporter Code Number' HOW TO APPLY; SOLVED!!! CHEERS!!!

indiaartpalace
Community Member
Hi Akshaye,
I have read your replies to queries regarding IEC. Very helpful indeed !! I have an IEC but I am not using it since courier companies do not ask for documentation on small shipments like 2 shirts, 1 shoe etc. But what I need to ask is: Is this retail selling internationally considered exports as per IEC norms. If so, do we need to show earnings in foreign exchange while in reality we get payments in INR whether from paypal or paisapay. Also do we need to report or pay sales tax on all our sales. Can somebody guide on this issue.
Thanks in advance
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