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CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration. CBIC is working on biometric authentication of risky entities under GST as it looks to crack down on fraudsters who are misusing the PAN and Aadhaar of other people to obtain GST registration, CBIC chief Vivek Johri said.

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import-export-code
What is Import Export Code ?
In India, import and export activities are regulated by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Government of India, which is responsible for implementing policies and procedures related to foreign trade.
Eligibility
One of the requirements for engaging in import and export activities is obtaining an Import-Export Code (IEC) from the DGFT, regardless of the size or nature of the business
Import Export Code verification

 

The IEC registration process involves submitting an application to the DGFT through an online portal or in person. The application must include the required documents. The documents required for IEC registration vary depending on the type of entity applying for the code. For instance, a proprietorship business must provide the proprietor’s PAN card and Aadhaar card, whereas a company must provide its PAN card, incorporation certificate, and memorandum of association and articles of association, both along with proof of identity, address proof, and bank account details. The applicant must also pay the prescribed fee for the registration process.

Once the application is submitted, the DGFT reviews the documents and processes the application. The iec verification dgft may ask for additional information or documents, and the applicant must provide them within the specified time frame. If the application is approved, the DGFT issues 10-digit import export code number to the applicant.

Benefits of import export code ?

The IEC code is necessary for several purposes, such as customs clearance of goods, opening a bank account for international transactions, and availing of export incentives from the government. Without an IEC code, businesses cannot engage in import or export activities in India .

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