aman gupt (FPS) (49 Points)
28 January 2012Hi Friends,
A partnership firm is providing manpower services from India, that is, two IT engineers are working for an Australian Company in India on the payrolls of the partnership firm. Is is mandatory for the partnership firm to obtain IEC?
Any information would be of great help.
Regards,
Aman
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 30 January 2012
IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade , Ministry of Commerce, Government of India to Indian Companies.
As Per PARA 2.8(iii) OF FOREIGN TRADE POLICY 2009-2014 "person IMPORTING OR EXPORTING GOODS FOR PERSONAL USE NOT CONNECTED WITH TRADE OR MANUFACTURER OR AGRICULTURE ARE EXEMPT FROM IEC CODE.
in view of above i would like to say that if you interreseted export import for company mandatory issue the IEC.
in my opinion, you must GET IEC CODE AND RCMC FROM SERVICE EXPORT PROMOTION COUNCIL, BECAUSE YOU ARE ELIGIBLE FOR SFIS SCHEME FRAME UNDER DGFT.
REGARDS,
Excel Mastery Program
CAclubindia
