Import formalities

[mpw]

very good information here

 

[liverpool_for_life]

I see. Actually Dummy IEC is a rip-off that these CHA use to charge us 3k to 7k. But, in reality, it takes 1 day for an individual to generate his IEC and it costs 500 INR. All you need is a PAN, Bank account (savings acc also works) and a canceled cheque.

Now DGFT offers IEC to individuals too and GSTIN is not needed as well. They also have a very active and helpful Helpline one could call to clear all of the IEC related queries. For individuals, the PAN becomes the IEC Code.

Thank you very much for this information. Very helpful!

 

[audiopro]

When a person is traveling and brings the item there won't be many restrictions on whether the product is used or not. 50k is the duty-free limit and anything exceeding that will be taxed at 41.25%. You have to be able to prove the value of the item through invoices etc. But of course, you can just walk through the green channel as well if you're able to prove the value is indeed under 50k for all items combined.



I see. Actually Dummy IEC is a rip-off that these CHA use to charge us 3k to 7k. But, in reality, it takes 1 day for an individual to generate his IEC and it costs 500 INR. All you need is a PAN, Bank account (savings acc also works) and a canceled cheque.

Now DGFT offers IEC to individuals too and GSTIN is not needed as well. They also have a very active and helpful Helpline one could call to clear all of the IEC related queries. For individuals, the PAN becomes the IEC Code.

I had tried to apply for an IEC as an individual but was told that individuals cannot get one. They said one needs a GST number to use an IEC.
Can you share how to go about getting an IEC on a personal account as well as which CHS to use?

I tried using a Clearing agent with this dummy IEC bit but they quote astronomical rates.

 

[audiopro]

very good information here

I like the way MPW is always watching and sharing his thoughts. reminds me of Rahul Dravid. Would make a 50 silently.

 

[generalxxxstark]

I had tried to apply for an IEC as an individual but was told that individuals cannot get one. They said one needs a GST number to use an IEC.
Can you share how to go about getting an IEC on a personal account as well as which CHS to use?

I tried using a Clearing agent with this dummy IEC bit but they quote astronomical rates.

That's not true.. I have done so myself without any of that.

And well, for the CHA, based on your location there are plenty in Mumbai. Just google one and look for good reviews on either google or justdial.

To Register for an IEC

Go here - http://dava.gov.in:8080/dgftiec/panSearch.jsp

Enter your PAN and it will ask for and verify some information. You can see on the page itself what all you need for the IEC. There is also a pdf linked with the recent changes to the procedure.

Basically, you will need to register as an Individual Proprietorship, which is an Individual and your full name becomes the Entity.

Once you get through the first step, the registration form will become self-explanatory. The form does have an entry for your GSTIN but it is not mandatory to fill that.

If you have any queries while registering, feel free to post that here.

Once you've submitted your application, you can take a print out of the IEC and start using it immediately, but it takes 3 days max for full verification of the uploaded documents.

 

[arj]

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