Generally for all types of business upon receipt of GST Registration, a business entity can start their merchandise operations by way of buying and supplying goods in the market. However, in case of intended activity of export or import, an additional IEC Code (Import Export Code) is required.
Import Export Code (IEC) is granted by the office of concerned Regional Office and Zonal Office of Director General of Foreign Trade (DGFT) by filing the requisite form The Application can be made online by filing the requisite documents and particulars on http://dgft.gov.in.
Udyog Aadhar Memorandum (UAM) / Industrial Enterprise Memorandum (IEM) & Industrial Licenses (IL)
Udyog Aadhar Memorandum (UAM0 is desired by industrial units in the MSME Sector. It is optional. However, it is recommended to apply the same as this confers any advantages to the MSME unit by way of various Government Scheme with regard to subsidies, grants, relaxed conditions of borrowing from banks and institutions.
Industrial Enterprise Memorandum is granted by Secretariat of Industrial Approvals (SIA) under Department of Industrial Policy and Promotion, Government of India. It is required by the Large Undertakings. Similarly, an Industrial License (IL) is required for commencement of business activity as mentioned in Industrial Development Regulation Act, 1951 e.g. undertaking an activity reserved for public sector, activities reserved for SSI etc.
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