{"id":1073,"date":"2021-01-09T07:04:36","date_gmt":"2021-01-09T07:04:36","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=1073"},"modified":"2021-03-17T12:08:29","modified_gmt":"2021-03-17T12:08:29","slug":"frequently-asked-questions-about-import-export-in-india","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/","title":{"rendered":"Frequently Asked Questions (FAQs) about Import Export in India"},"content":{"rendered":"\n<p class=\"has-drop-cap\">With the growth in the Import Export trade business, many\nbusiness owners are now willing to engage themselves in this industry and\nexpand their business. This helps them to get exposure of the global market and\nearn more profits. It is necessary to obtain Import Export Code registration to\nexecute international transaction or to trade in globally markets. However,\nthere are some questions that may arise at the end of the traders regarding the\nImport Export business. Hence, this article will guide you by providing the\nanswers to the Frequently Asked Questions (FAQs) about Import Export in India. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37ca9715e07\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37ca9715e07\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#What_are_the_Frequently_Asked_Questions_FAQs_about_Import_Export_in_India\" title=\"What are the Frequently Asked Questions (FAQs) about Import Export in\nIndia? \">What are the Frequently Asked Questions (FAQs) about Import Export in\nIndia? <\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q1_Is_it_necessary_to_obtain_Import_Export_Code_IEC_for_Import_of_goods\" title=\"Q1. Is it necessary to obtain Import Export Code (IEC) for Import of goods?\n\">Q1. Is it necessary to obtain Import Export Code (IEC) for Import of goods?\n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q2_Is_there_a_separate_code_required_for_Import_and_Export\" title=\"Q2. Is there a separate code required for Import and Export? \">Q2. Is there a separate code required for Import and Export? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q3_Is_there_a_need_to_obtain_IEC_code_for_import_or_export_of_goods_for_personal_use\" title=\"Q3. Is there a need to obtain IEC code for import or export of goods for\npersonal use? \">Q3. Is there a need to obtain IEC code for import or export of goods for\npersonal use? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q4_What_is_a_%E2%80%98Restricted_Item_and_where_are_they_listed\" title=\"Q4. What is a \u2018Restricted Item\u2019 and where are they listed? \">Q4. What is a \u2018Restricted Item\u2019 and where are they listed? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q5_What_is_ITC_HS_Code\" title=\"Q5. What is ITC (HS) Code?\">Q5. What is ITC (HS) Code?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q6_How_to_find_HS_code_for_a_product\" title=\"Q6. How to find HS code for a product?\">Q6. How to find HS code for a product?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q7_Is_there_a_need_to_renew_the_IEC_Code_in_India\" title=\"Q7. Is there a need to renew the IEC Code in India? \">Q7. Is there a need to renew the IEC Code in India? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q8_Is_there_a_need_to_file_returns_for_IEC\" title=\"Q8. Is there a need to file returns for IEC? \">Q8. Is there a need to file returns for IEC? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q9_What_does_a_business_owner_who_wishes_to_start_Import_Export_Trade_needs_to_know_before_going_global\" title=\"Q9. What does a business owner who wishes to start Import Export Trade\nneeds to know before going global?\">Q9. What does a business owner who wishes to start Import Export Trade\nneeds to know before going global?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q10_Do_government_departments_need_to_obtain_IEC_Code\" title=\"Q10. Do government departments need to obtain IEC Code?\">Q10. Do government departments need to obtain IEC Code?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q11_Is_IEC_registration_required_despite_having_GST\" title=\"Q11. Is IEC registration required despite\nhaving GST?\">Q11. Is IEC registration required despite\nhaving GST?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q12_What_are_the_conditions_in_which_IEC_code_is_not_required\" title=\"Q12. What are the conditions in which IEC code is not required?\">Q12. What are the conditions in which IEC code is not required?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q13_Why_is_Import_Export_business_regulated_by_the_Government\" title=\"Q13. Why is Import Export business regulated by the Government? \">Q13. Why is Import Export business regulated by the Government? <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Q14_What_is_Foreign_Trade_Law\" title=\"Q14. What is Foreign Trade Law?\">Q14. What is Foreign Trade Law?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/frequently-asked-questions-about-import-export-in-india\/#Conclusion\" title=\"Conclusion \">Conclusion <\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Frequently_Asked_Questions_FAQs_about_Import_Export_in_India\"><\/span>What are the Frequently Asked Questions (FAQs) about Import Export in\nIndia? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q1_Is_it_necessary_to_obtain_Import_Export_Code_IEC_for_Import_of_goods\"><\/span>Q1. Is it necessary to obtain Import Export Code (IEC) for Import of goods?\n<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>A1.<\/strong> It is\nnecessary to obtain IEC code for Import. However, certain categories of\nimporters are exempted from obtaining Import Export Code. The details regarding\nthe categories of importers exempted from obtaining IEC may be seen at Para 2.8\nof Handbook of Procedure, Vol.-I on the DGFT website. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q2_Is_there_a_separate_code_required_for_Import_and_Export\"><\/span>Q2. Is there a separate code required for Import and Export? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>A2.<\/strong> No separate\nCode is required for Import and export and the same IEC can be used for both.\nMany people have a wrong Idea that a separate IEC code is required, but it is\nnot true. Only one registration is required which is mandatory for the import\nand export and the same IEC code can be used while importing as well as\nexporting. There are many benefits on obtaining IEC code for businesses. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q3_Is_there_a_need_to_obtain_IEC_code_for_import_or_export_of_goods_for_personal_use\"><\/span>Q3. Is there a need to obtain IEC code for import or export of goods for\npersonal use? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>A3.<\/strong> IEC code is\nnot required for import or export of goods for personal use. The Import Export\nCode is mandatory only for commercial purposes and business. One can import or\nexport goods for personal use without any registration requirement. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q4_What_is_a_%E2%80%98Restricted_Item_and_where_are_they_listed\"><\/span>Q4. What is a \u2018Restricted Item\u2019 and where are they listed? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>A4.<\/strong> Those goods, import of which is permitted only with the Permission\/ Licence\/Authorisation or in accordance with the procedure prescribed in a Public notice\/ Notification are termed as \u2018Restricted\u2019 items. The list of \u2018Restricted\u2019 items is available in the (ITC- HS) classification of import and export items and the same can viewed under the download section in <strong>DGFT website<\/strong><sup><a class=\"text-primary\" href=\"http:\/\/dgftcom.nic.in\"><strong><em>[1]<\/em><\/strong><\/a><\/sup>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q5_What_is_ITC_HS_Code\"><\/span>Q5. What is ITC (HS) Code?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A5. The ITC (HS) Code is known as Indian Trade Classification (Harmonised System) Code which was adopted in India for exporting importing operations. An 8 digit ITC (HS) Code is used by the Indian customs for the national trade requirements. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q6_How_to_find_HS_code_for_a_product\"><\/span>Q6. How to find HS code for a product?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A6. To know the HS code for a\nproduct, click on the \u2018ITC (HS) based policy\u2019 on the official website of DGFT.\nAn ITC (HS) query form will get open in a new window. Insert the product\u2019s name\nin the description option o know the HS Code of the product. If, one is already\naware of the HS code and wants to know the product, then enter the ITC (HS)\ncode option to know the product. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q7_Is_there_a_need_to_renew_the_IEC_Code_in_India\"><\/span>Q7. Is there a need to renew the IEC Code in India? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A7. The registration of IEC is a onetime registration and\nhas the validity for a lifetime. Therefore, there is no need to renew the IEC\ncode. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q8_Is_there_a_need_to_file_returns_for_IEC\"><\/span>Q8. Is there a need to file returns for IEC? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A8. The IEC code is required at the time of exporting or\nimporting or receiving or paying payments. There is no need to file returns for\nIEC as there are no post registration compliances. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q9_What_does_a_business_owner_who_wishes_to_start_Import_Export_Trade_needs_to_know_before_going_global\"><\/span>Q9. What does a business owner who wishes to start Import Export Trade\nneeds to know before going global?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A9. It is important for the business owner who wishes to\nengage in Import Export trade to be thorough and know his product and service\nperfectly. The business owner must know what makes his products unique. He must\nanalyze the market of the target country and must evaluate the pros and cons\ncarefully of going there including an estimation of the risks and the costs\ninvolved in it. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q10_Do_government_departments_need_to_obtain_IEC_Code\"><\/span>Q10. Do government departments need to obtain IEC Code?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A10. The Central and State Government do not require obtaining <strong><a href=\"https:\/\/swaritadvisors.com\/iec-registration\" class=\"text-primary\">IEC registration<\/a><\/strong>. A fixed number is allotted to them which is used for any such transactions. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q11_Is_IEC_registration_required_despite_having_GST\"><\/span>Q11. Is IEC registration required despite\nhaving GST?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A11. It is necessary for every person who imports or exports to obtain IEC registration. It is necessary to register with DGFT department even if the business is registered under <strong><a href=\"https:\/\/swaritadvisors.com\/gst-registration\" class=\"text-primary\">GST<\/a><\/strong>. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q12_What_are_the_conditions_in_which_IEC_code_is_not_required\"><\/span>Q12. What are the conditions in which IEC code is not required?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A12. IEC Code is not required when: &#8211;<\/p>\n\n\n\n<ol><li>The import and export is done by the government departments<\/li><li>The import and export is done by certain notified charitable <strong><a href=\"https:\/\/swaritadvisors.com\/ngo-registration\" class=\"text-primary\">NGOs<\/a><\/strong>.<\/li><li>Products for personal use are imported or exported. <\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q13_Why_is_Import_Export_business_regulated_by_the_Government\"><\/span>Q13. Why is Import Export business regulated by the Government? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A.13 The\ngovernment imposes restrictions on imports and exports for the following\nreasons: &#8211; <\/p>\n\n\n\n<ol><li>Protect the morals of the public. <\/li><li>Protect the lives of the humans, animals and\nplants. <\/li><li>IPR protection.<\/li><li>To maintain the artistic, historic and\narchaeological value of national treasure. <\/li><li>To conserve the exhaustible natural resources.\n<\/li><li>To discourage and limit the trafficking of war\nrelated items, weapons and illegal drugs. <\/li><li>Prevent the use of prison labour. <\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q14_What_is_Foreign_Trade_Law\"><\/span>Q14. What is Foreign Trade Law?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The\nIndia\u2019s foreign trade legislation is controlled by the Foreign Trade\n(Development and Regulation) Act, 1992. Through this policy, the Indian\ngovernment permits the imports into India and encourages exports from India. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Import Export in India is growing rapidly and helping the business and manufacturers to expand their business and grow. Import Export helps the businesses to compete with the global market and allow them to avail many benefits from import export business. The government encourages the businesses who are engaged in the import export trade. Certain Frequently Asked Questions (FAQs) about Import Export in India are discussed above in the article that usually arises for trading goods to or from India.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/when-iec-code-is-required\/\">All That You Need To Know: When IEC Code is Required?<\/a><\/mark><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the growth in the Import Export trade business, many business owners are now willing to engage themselves in this industry and expand their business. This helps them to get exposure of the global market and earn more profits. It is necessary to obtain Import Export Code registration to execute international transaction or to trade [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[40],"tags":[161],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1073"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=1073"}],"version-history":[{"count":4,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1073\/revisions"}],"predecessor-version":[{"id":1079,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/1073\/revisions\/1079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/1075"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=1073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=1073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=1073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}