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Is IEC required for importing goods from china
05-Jun-2023 (In Customs & Central Excise Law)
1) Do you need an IEC for Importing electronics goods from china? 2) How is the duty calculated for the products imported in bulk( No brand or package) ? Thanks in advance
If you are interested in importing any kind of goods from China to India, then there are lots of things to be considered to meet your needs. First of all, you need to meet the criteria for international trading.
Fulfill the essential requirements, in any case, to start an important and export business in India, it is important to have some essentials
• A firm or company that must be registered in India
• A bank account, which needs to be current
• An IE code or Importer Exporter Code
• TIN
Fulfill the essential requirements, in any case, to start an important and export business in India, it is important to have some essentials
• A firm or company that must be registered in India
• A bank account, which needs to be current
• An IE code or Importer Exporter Code
• TIN
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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The first requirement before you start an import/ export business in India is to obtain an IEC( import and export code). An IEC is necessary for import/export of goods.
In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc.
IEC is not required under the following circumstances:
1. Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
2. Import/export by government ministries and departments, and certain notified charitable organizations.
b vinod
In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc.
IEC is not required under the following circumstances:
1. Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
2. Import/export by government ministries and departments, and certain notified charitable organizations.
b vinod
Helpful?
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Adv. B Vinod
Ernakulam | 25+ Answers
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