All You Need to Know About IEC (Import Export Code)

An IEC Code is exempted for the following:

• Government departments and ministries
• Charitable organisation or notified institutions
• Personal imports/exports and not used for commercial purposes
• Remember, an NRI has to acquire an IEC for all commercial transactions, even if they are operating from outside India.

No, generally, you cannot export goods without an IEC code. An IEC code is crucial for exporting goods or services from India. However, several exemptions may apply, such as:

1. Items for personal use
2. Exports done by government departments or notified bodies. 
3. Additionally, an IEC Code will be required for NRIs or businesses to export goods or receive international trade payments legally. 

Yes, NRIs and OCI cardholders staying in Myanmar (formerly known as Burma) can apply for an Indian PAN card. You can submit the application online with the required identity, address, and passport-related documents.

To apply for a PAN card from Myanmar, NRIs generally need a copy of their passport, overseas address proof, birth date proof, and passport-sized photographs. You may also need to submit some additional documents based on the applicant's status.

Yes, if an NRI in Myanmar earns taxable income in India (rent, capital gains, dividends, or interest), they need to have a PAN card.

The processing time to get a PAN card application from Myanmar usually ranges between 15 and 20 working days. It varies based on document verification and whether a physical PAN card is requested.

In most cases, Indian banks may ask you to provide a PAN card to open and operate NRO or NRE accounts. Having a PAN card also helps ensure compliance with the rules of the RBI and the Income Tax Department.