Import and Export Related Works
Import Export Consultancy Services deals with activities that usually are undertaken by firms specializing in international trade. In the modern world, globalization has been a new economic reality. Every country across the world is getting more interconnected and interlinked that they had previously been. Today every country trades with every country as the road ahead for the future lies in cooperation and not conflict. This is opposite to what the previous belief was. The philosophy behind the economic approach was to modernize internally, leaving the world isolated. Modern day realism has changed the thinking of most government business leaders to change the course of action and to look at trade from a new point of view.
There are a lot of factors that had made this change in policy possible and back it up with actions. The first and most important of these factors that are significant is the resource constraint, secondly is the lack of competitive advantage in every sector that every country is deficient. Though it is perfectly fine for every country to have advantage and disadvantages. India, for example, has its own particular skill sets when it comes to exporting. Though the country is top exporters of dairy and farming products, it is also a top for exporting software services across the world, especially to the developed world. Exporting goods and services requires a whole set of procedure that needs to be compiled first by the organization before the actual trade can begin. The first step for any organization looking to start an export- import business in India has to apply for IEC Registration, which is issued by DGFT (Director General of Foreign Trade).
STEPS INVOLVED IN IEC REGISTRATION:-
- The applicant has to fill up Aayaat Niryaat Form no 2A and submit to the respective DGFT office.
- The applicant has to prepare documents of their corporation along with their bank account and address details with respect to ANF2A.
- After the completion of the above steps the applicant has to pay the fee with the DGFT via DSC (Digital Certificate Signature) for IEC registration.
- After the application process is complete, the applicant receives the IEC code from the government.
Documents required for IEC:-
- A copy of the PAN Card (Corporation or firm).
- A copy of Aadhar Card, PAN, Voter Id of the individual.
- A copy of the cancel cheque of the corporation.
- A copy of the electricity bill of the compound.
Benefits of IEC Registration:-
- Expansion of business.
- Availing of several benefits.
- No filling of returns.
- Easy Processing.
- No need for renewal.
Royal Tax Solution advises all the organization with the Import and export related work working as a Import Export Business Consultants handholding corporation in every possible way by breaking down the steps that needs to be taken to get a IEC License along with helping filing of ROC Returns for PVT ltd or LLP company which are in the import export business.