The utilization of a Legal Entity Identifier (LEI) is obligatory for transactions within the interest rate, forex, and credit derivative markets. Furthermore, the Reserve Bank of India (RBI) has stipulated the mandatory requirement of LEI for companies and organizations that possess aggregate fund-based and non-fund based credit exposure exceeding Rs 50 crore.
Before importing goods into India, it’s crucial for the business to have an Importer Exporter Code (IEC) certificate. It is a mandatory requirement for customs clearance, ensuring that the importing entity is legally authorized for import and export activities.
GST registration is a mandatory process for businesses and individuals involved in the supply of goods and services in India, once their aggregate turnover crosses the prescribed threshold limit.
MSME registration refers to the process of registering a business entity under the Micro, Small, and Medium Enterprises (MSME) Act. This registration is aimed at providing various benefits and support to businesses falling within the defined criteria of micro, small, or medium enterprises.