Applying for IEC Code and registering yourself as a Properitor.

[1relimart]

Hello My Dear Sellers,

Today I would like to help you understand how you can be a legit seller online and offline.

In India you do not have to register a company or firm to do business if you are a properitor.

Now before you start your business apply for your TAN no., its like a PAN card but for business. Register using your business name and your details. 

You dont have to spend money for this, I mean not much but just a 100 or 2 thats it. You dont need to send huge paperwork too. Fill the online application then sign it and send it to the given address.

https://tin.tin.nsdl.com/tan/

Once you get your TAN no. or the letter for the same head to the dgft website and apply for a IEC code.

Why you need IEC?

Import Export Code is essential for every person or firm importing or exporting things in India.

Import things by paying 30% customs duty.

To apply for a IEC DGFT need a few documents if you are a individual or properitor.

Bank Certificate in the format mentioned on the dgft website.

2 photo of the same that is attested on the bank certificate.

address proof.

Pan Card front and back copy

Application form signed by you .

You need to upload these documents on the DGFT website and also send a hardcopy to the nearest DGFT office as mentioned on the website.

You should get the IEC in a week or 15 days depending on the application. Mine took long because I sent the wrong address proof. The address on the Bank Certificate was not the same as the address proof sent.

If you complete this then you can legally do online business in India.

P.S The TAN no. is a must and a minimum requirement for every Properitorship firm.

        Also TAN No. is needed if you are applying IEC as a Properitor and not as a individual person.

[paylessindia]

Very useful information .Thanks for taking your time for writing for the common good.

I import a lot but not direct . Thro PO Box /Shop N Ship Courier Couriers  like Aramex/ICC world wide where daily up to 2 parcels are cleared in indivual name also provided quantities are not too large.

For big commercial quantities better to have IEC. The fees and freight rates are a bit high but for 2 to 10 kg package size -we have to accept it.. If we are importing by Air say 100 Kg, a freight forwarder will be interested -much cheaper than these SNS format companies  or Fedex/DHL.

Also if importing by LCL or FCL container by SEA , IE code ia must to clear thro a customs broker shipped thro a freigh forwarder from abroad (not Fedex/DHL Retail rates):smileywink:

[paylessindia]

1relimart !

Since you have taken the trouble to pen on this subject-

Kindly write also about- How to go about registering a Propreitorship Company for Aam Admi- I mean our budding average Ebay Mom & Pop sellers  from Home (with out going to Auditor) before reaching threshhold to register with Sales Tax (TIN & VAT no) !