Permanent Account Number commonly known as PAN issued to Non – Resident Indians (NRI), is a 10-digit alphanumeric number, issued by the Income Tax Department of India. The Permanent Account Number (PAN) is unique to an individual and it is valid across India. PAN once allotted to an individual is unaffected by a change of name, address, or other factors. Why PAN for NRI: – PAN Card is essential for… Read More »Permanent Account Number to NRI
Import Export Code also known as IEC Code which is issued by the DGFT (Director General of Foreign Trade). When an individual want to start an Import or Export business in India, then the Import Export Code is needed to be obtained. Without this code it is not possible to start any type of business being dealt in Indian Geographical area. Department of Commerce sets all the rules and regulation… Read More »All about Import Export Code
In India’s Foreign Trade Policy, the term scrip has reference as ‘duty credit scrips’. DCS also known as Duty credit scrip is the most attractive export promotion incentive given by the government to exporters. The objective and purpose of such schemes is to encourage exports by giving concessions to import tariff to exporters. Under the scrip, exporters can draw an import duty concession to a fixed percentage of their export… Read More »All About Duty Credit Scrips (DCS)