Export: The Importer -Exporter Code (IEC) is a

The Importer -Exporter Code (IEC) is a key business identification number which is mandatory for Exports or Imports. No person shall make any import or export except under an IEC Number granted by the DGFT. In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies HOW TO EXPORT INTRODUCTION India’s foreign trade, encompassing both exports and imports, is regulated under the Foreign Trade Policy (FTP), which is notified by the Central Government in accordance with the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992. The current policy, known as the Foreign Trade Policy 2023, is effective from 1st April 2023 and governs the country’s international trade activities. STARTING EXPORTS Export in itself is a very ... 1) Establishing an Organisation: To start the export business / start up, first a sole Proprietary concern/ Partnership firm/Company has to be set up as per procedure with an attractive name and logo. Any business or an enterprise must register legally under the Companies Act of 2013. There are a total of seven types of company registration in India. Due to several options, it’s overwhelming to choose the right kind of company registration. Answer: Yes. The procedures relating to export have been simplified so as to do away with the paper work and intervention of the department at various stages of export . The salient features of the scheme of export under GST re-gime are as follows: