Import Export Code license is one such requirement for import export business. Import Export Code is needed to commence import and export business.

Importantly, the commerce ministry has imposed an interest subvention cap of Rs 5 crore per IEC (import-export code) for MSME manufacturers till September 30, 2024, for the current fiscal.

What is Importer Exporter Code (IEC) The first requirement before you start an import/ export business in India is to obtain an IEC. An IEC is necessary for import/export of goods.

What happens if you don’t have a commodity code? If you don’t have a commodity code on your goods then you are set for significant customs difficulties. This is because, without a code, no one knows ...