Import Export Code
What is IEC Registration ?
When your business is absolutely settled then you might want to start exporting or importing your goods. But to make this possible you will be needing an Import Export Code also abbreviated as IEC. When you start in importing / exporting you need to maintain certain guidelines directed by the GST department.
Basically import export code is a kind of a licence which will allow you to spread your company to a global level. This licence is issued by the Director general of foreign trade (DGFT). We can say that import and export of goods and services can flourish our economy in several ways.
GST reduce the taxes in export which will in turn remove the burdens from the sellers and ensure more number of exports and also that the taxation policy will no more become a problem.