Hope you are doing good!
REQUIREMENTS FOR IEC
IEC is required when you are going to import products from China.
As per Govt. notification IEC was not required under GST regime, but still some custom people are not aware of it they ask for IEC. To remain secure we have to provide them IEC.
Documents Required while applying for IEC
In case of Proprietorship you require your own PAN card.
In case of Private limited, OPC & LLP you require company’s PAN card.
You need current bank account.
DGFT digital signature(class 3 type)
For digital signature you can contact your CA
You need Bank approval letter from bank.
CHARGES FOR IEC
You need to pay of rs.500 on DGFT site.
2000-2500 Rs. to CA for digital signature.
When you start business you start with small stock like 2-3 cartons. For that we suggest you to use international courier companies such as FedEx and DHL.
These companies will take complete responsibility to deliver your product at your doorstep. They will take a product from the manufacturer, pay customs duty, clear it from the customs and deliver it to you.
When they come to deliver you have to pay the customs duties whatever they have already paid.
For further queries, you can revert back to us.
Thanks & Regards,
Also when your product lands in India these companies will ask for your KYC. As KYC you have to provide your personal PAN card if it is proprietorship otherwise provide company PAN card, GST number or GSTIN, Bank statement.