Import Export Code Registration in Bangalore

Import Export Code Registration in Bangalore – As the Indian economy is growing by leaps and bounds the import-export business has also caught pace in the last few years. Many new entrepreneurs and businessmen are trying their luck in the import-export business. However, the government highly regulates this business and requires a wide range of licenses and registration. The IEC or Import Export Code is essential to running your business smoothly. Obtaining the Import Export Code is an elaborate process and may differ for all jurisdictions. Prakasha & Co. has compiled this comprehensive guide for you to discuss the Import Export Code Registration in Bangalore deeply.

Prakasha & Co. is a highly reputable business consultancy firm delivering highly accurate and business-oriented services to various businesses and corporate firms. The blog will give you a highly invaluable overview of the Import Export Code Registration in Bangalore, its importance, benefits, and the role Prakasha & Co. can play in getting timely registration for the IEC code. Give this blog a thorough read and discover the different aspects of IEC code registration. 

Discover the Need and Applicability of Import Export Code Registration

The IEC or Import Export Code is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to facilitate foreign trade in India. Registration is mandatory for smooth foreign trade practices in India. If you are planning to start your Import Export business in Bangalore, it is mandatory to hold a valid IEC code registration. This IEC code is required in the following situations when involved in the foreign trade exchange of products: 

1. IEC code is needed for the transaction of money abroad by the banks of importers.
2. IEC code is also needed by the banks to receive money in foreign currency directly into the exporter‘s bank account. 
3. The Import Export license is also required by the customs port when the shipment is sent by the exporter. 
4. IEC code is also used when the importer has to clear the shipments from the customs and customs authorities. 

Important Documents Needed for Import Export Code Registration in Bangalore

The registration process requires a long list of documents to complete the process and get the legal verification. These documents help you get the legal verification and effortlessly complete the process. The experts at Prakasha & Co, are ever ready to assist you in the documentation process. Choosing Prakasha & Co. is a reliable way to ensure the timely submission of all the documents while you can focus on the core business activities. The list of documents needed for the  Import Export Code Registration in Bangalore is mentioned below: 

• Certificate from the Banker of the applicant firm in the specified format at Appendix-18A.
• Self-certified copy of Permanent Account Number (PAN) issued by the Income Tax Authorities.
• Three copies of the applicant’s passport size.
• The photograph on the banker’s certificate should be attested by the Banker of the applicant.
• Application in ANF 2A of Handbook of Procedures (HBP) 2009-14 (Part A, B & D).
• Demand Draft for Rs.250/-(Two Hundred and Fifty rupees only) drawn in favor of the “Jt. Director General of Foreign Trade, Hyderabad” payable at Hyderabad. 

Benefits of Import Export Code Registration in Bangalore

The major benefit of Import Export Code Registration is that it allows you to carry out the import-export business in Bangalore. However, there are several benefits of Import Export Code Registration that you can use to leverage the import-export business. Learning about these benefits will help you further gain the advantage of the import-export business. Read through the benefits offered by the Import Export Code Registration in Bangalore elaborated below: 

Simple Registration Process: The IEC code can be acquired through a very simple process. There is no need for fulfilling any compliances such as annual filings and return filings. The entire process is hassle-free and rarely faces any challenge. 

Legalize Overseas Trade: Another key benefit of the Import Export Code is that it legalizes your import-export business and also allows for overseas trade. It also makes it easy for you to make trade across borders easy. 

Opportunity to Expand Business: The IEC code not only legalizes your business but also gives you the freedom to tap into the global markets resulting in huge business expansion. 

Smooth Electronic Fund Transfers (EFTs):  With the Import Export Code you can easily pay the license fee online without having to visit a bank to make the payment. 

Partner With the Best Import Export Code Registration Consultants  in Bangalore

Prakasha & Co. is a trusted business consultant in Bangalore. We have a rich experience in the market and work hard to offer a seamless registration process. Our team comprises Company Secretaries, CA, GST experts, and legal experts striving to help businesses and corporates get timely registrations and licenses. You can also connect with us for a myriad of services including new company setup, registration, accounting, audit, tax advisory, GST, trademark, and legal services.  

We have a transparent pricing policy and do not charge any additional services. You can expect our experts to stay committed throughout the registration process and keep you constantly updated. We stay updated with the local trends and have well-established connections to get your work done in time. 

Key Benefits of Choosing Prakasha & Co. 

• Experts that stay updated with local insights 
• Accuracy and precision as per the specific business requirements 
• 15+ experience in offering business consultancy services
• Transparent pricing policy and budget-friendly prices
• Focus on building long-term relationships with the clients 

Contact At 

Name: Prakasha & Co 

Address: 188/1, Sahakarnagar, Bangalore-92 

Phone: +91-7019 827 351 

Email: Prakashaandco@gmail.com