Import-Export code : Big Relief by the Commerce Ministry
Import-Export code – To facilitate ease of doing business and lessen paperwork, the Commerce Ministry has decided to reduce the number of mandatory documents for taking Import-Export code to two.
Import-Export code (IEC) is required for shipments.
“Only two documents are required to be uploaded /submitted along with the digital photograph while applying for Import-Export code ,” the Directorate General of Foreign Trade (DGFT) said in a notification.
Earlier, several documents including complete details of the entity seeking the Import-Export code ; details of the proprietor/ partners/ directors/managing trustee of the entity, and details of the signatory applicant were required to get this code number.It also said “only” online application for Import-Export code or modification in Import-Export code can be made by applicants through digital signature with effect from April 1 this year.
The Commerce Ministry has been engaged with different departments to reduce paperwork in a bid to cut transaction cost for exporters and improve the ease of doing business.According to the World bank’s report on doing business, India ranked 133 in terms of trade across borders out of 189 economies.
To improve India’s ranking, the ministry has already reduced the number of mandatory documents required for import and export of goods to three in each case.
Overall, India’s rank was improved to 130 in 2016 out of 189 countries from 134 in 2015.
Source: Economic Times
For more info, login to: www.aapkaconsultant.com
How Aapka Consultant can help you:-
- Get free expert consultancy from experts.
- We available every time to solving your legal queries.
- Get one stop solution for all legal compliances.
- Process application within 24 Hours.
- Trusted by Most Valuable Startups.
- We Understand Startup Budget & their needs.
- Get quality services at pocket price.
APPLY NOW to get Import-Export code Online!
No comments:
Post a Comment