Import Export Code- Exempted categories and Restricted Items.
September 16, 2021
Import Export Code- Exempted categories and Restricted Items.
Table of Content
What is the Import Export Code ?
Import Export Code or IEC is a 10 digit unique recognition number issued by the Director General of Foreign Trade (DGFT),Department of Commerce,Government of India. Import Export business is not possible without this code. In this article we will discuss the Exempted, Restricted and prohibited items under Import Export Code.
India became the centre of trade in South Asia. India’s globalisation and the emergence of free markets have increased the potential for cross-border trade. Today, more and more companies looking for cheaper substitutes are doing cross-border import / export. In order to ease the import and export business, the government has developed the import and export code or the IEC concept. IEC is distributed to all importing and exporting companies to record all activities using one 10-digit identification number.
What Are Exempted Categories under Import Export Code?
- Import/export of possessions for individual use.
- Import/ Export by controlling and notifying charitable organisations.
- Import/Export of produce to and from Nepal or Myanmar, everywhere CIF denomination does not exceed Rs. 25000/
- It does not go into Technology and Services if the tools do not tumble on the constrained list.
Prohibited Items under the Import Export Code
- The restricted items can easily be seen in ITC list and is allowed only after acquiring an Import License from the Regional License Authority.
- The possessions imported under such permits are capable of disposal as mentioned in the permit.
- Additionally, system no ANF2B (subsequently controlled to ANF 2M w.e.f.18th March’2019) is the devotion that arises for Import of hamper stuff from DGFT.
- Moreover, canalized bits and pieces such as petroleum products, form cultivation crops know how to import alone through Canalizing Agencies.
- Also, the stuff with prohibition, that is listed in ITC (HS), is harshly forbidden on every part of import channels in India.
- Various restricted or exempted items for Import or Export are chemicals such as opium, marijuana, heroin and other narcotic and synthetic drugs, animals like horses, asses and many more.
Permanent Import Export Code
Provision has provided permanent IE code for the following categories.
- IE Code: 0100000011 – Every one of Ministries or Departments of the pivotal command and agencies wholly or incompletely owned by them.
- IE Code: 0100000029 – Each and every one Ministries or Departments of the State Government and agencies wholly or moderately owned by them.
- IE Code: 0100000039 – Diplomatic personnel, counsellor Officers in India and the officials of the UNO and specialised agencies.
- IE Code: 0100000045 – Indian returning from/going abroad and claiming help under the Baggage Rules.
- IE Code: 0100000053 – Persons/Institutions/Hospitals importing or exporting freight for their personnel take advantage of not joined with trade or manufacture or agriculture.
- IE Code: 0100000061 – People importing/exporting property from/to Nepal.
- IE Code: 0100000070 – Persons importing/exporting possessions from/to Myanmar through Indo-Myanmar border areas.
- IE Code: 0100000088 – Ford Foundation.
- IE Code: 0100000096 – Importers importing merchandise for demonstration or use up in fairs/exhibitions or comparable procedures under provisions of ATA carnet. This explicitly secret code digit preserves moreover old by importers imported for exhibitions/fairs.
- IE Code: 0100000100 – Director, nationwide Blood crowd mention Laboratory, Mumbai or their authorised offices.
- IE Code: 0100000126 – Individuals/Charitable Institutions/Registered NGSs importing goods, which give birth to be exempted from Customs sense of duty under the notification issued by bureau of Finance for bonafide exploitation by the victims precious by natural calamity.
- IE Code: 0100000134 – Persons importing/exporting permissible supplies as notified from time to time, from/to China through Gunji, Namgya Shipki La and Nathula ports, subject to amount ceilings of specific consignment.
- IECode: 0100000169 – Non-commercial imports and exports by entities who hold been authorised by keep back pay in of India
Export of Restricted Trading Enterprise under Import Export Code
For exporting freight with restrictions, an immoderate license gets hold of precise permission. Additionally, the practice that is mentioned in the certification for the Export of such goods has to comply with firmly. Moreover, there is a finished interdict on the export of prohibited goods, such as squally animals, etc.
Further, firm objects container export barely through glory trading enterprises, under the provisions that spell out in the EXIM policy.
Grant of Licence/Certificate/Permission for Export of supplies in the categories are mentioned by DGFT, which may, in turn, carry the opinion of council of official powers and Ministries concern.
Hence, for smooth trade in goods, it is essential to ensure that import and export procedures are followed flawlessly. Also, the authorities maintain complex rules of conduct to avoid complications.
Have any question? Suggested read for you- FAQs on IEC Registration
Import Export Code
If wish to import or export goods or services, you need to get Import Export license. Get your Import Export Code with Ebizfiling at affordable prices.
Amruta Thalange15 Oct 2020
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