Payoneer verification in india

[ArbazMd330]

Hi,

I have been asked for Import export code for verification in payoneer account. What should I do with this?

Also I am being asked for business details. Can I know which option is the correct to provide the buisness details?

Do we really need to provide the business details?

If we need to provide the details which is the correct option for instructors. There are multiple category items in there. Not sure which one would be the correct.

[Bella]

Hi @ArbazMd330, we appreciate your support request, if you don't get a reply from other instructors in India here in this post, we recommend reaching out to Payoneer support as they are able to walk through this with you and provide personalized assistance according to your case. 

Bella Almeida

Udemy Community

[RahulRajatSingh]

Did you get the answer to this question? I am a new instructor and I am also facing this problem. 

Do we need to apply for IEC number?

[sangeetha]

Ref: https://www.dgft.gov.in/CP/?opt=iec-profile-management

An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted. For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.

Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society.

So we need not apply for IEC unless we are claiming SEIS benefits (Ref: https://www.dgft.gov.in/CP/?opt=seis) and can quote PAN of the firm instead. In case if you are an individual, you can register yourself as a Proprietorship and quote your PAN as per the above guidelines.

@Bella It would be nice if you can add a notification somewhere on Udemy instructions / FAQs on this. The quoted government website belongs to DGFT - Directorage General of Foreign Trade.