All international "Gift" packages now liable for customs duty @ 77%(?)

[vignesh_venkatesan]

How many of you here have IEC license?

I have IEC.

 

[JB701]

Finally got my IEC. I had to use regular Firefox with all addons and tracking protection turned off to make payment. Very painful experience but I finally have it.

 

[WieldyBinkie]

What’s the use of an IEC?

 

[Jonas]

IEC

code has huge benefit for importers as well as exporters. The registered business entities would be able to avail benefits in form of subsidies or otherwise declared by the Customs, Export Promotion Council or other authorities. After filing LUT under GST, the exporters can make exports without payment of taxes.

via LegalWiz

I think I should get one too.

 

[vignesh_venkatesan]

@Samuel If u buy anything from overseas with a value in thousands then get IEC as customs are charging flat 42% import duty.
It's pretty inexpensive to get IEC.

 

[Sushubh]

Koi mera order kardo

 

[Smh]

How much it cost to get IEC and how do you use it? Do we have give IEC details to seller or customs?

 

[Jonas]

I just bought a mic for about 12k from Amazon India. Because of Corona things will stay out of stock, so I just bought it as soon as it became available. It's available in the states for about $129. It costed me 2.4k more to get it in India. But I am getting Indian warranty of about 2 years. So I guess, it's not a big deal.

As I've mentioned before that my known doesn't only have an IEC but a full fledged company, which he uses to export products from India to Romania. If anyone has any idea about using it to get things from abroad, let me know. Let me see what I can do. And also, if anyone sees a business opportunity here, hit me up. Plenty of resources available.

 

[varkey]

How much it cost to get IEC and how do you use it? Do we have give IEC details to seller or customs?

It costs Rs 500 or so, lifetime validity, one time cost. The code itself would be your PAN. Also, if you have a GST registration, then I think it by default acts as the IEC or something of that sort, I remember reading about it somewhere.
When getting shipments through express courier mode (DHL, FedEx, Aramex etc), you'd attach the IEC along with the KYC docs that is mandatory for any international shipment. IEC certificate acts like a proof as well.

My last few shipments, I got it through my Aramex Shop & Ship account. I have submitted my ID docs and IEC certificate and have it attached to my account, so all my shipments get processed through IEC mode by default.

The main purpose of IEC is that you'd get shipments cleared as per the specific item category, whereas without IEC, shipments get categorised under CTH 9804 irrespective of the type of item. And CTH 9804 attracts total duty at 42% or so.

 

[Smh]

What if item comes through normal post?