Import Export Certificate is important in India to regulate and monitor cross-border trade of goods and services. It is required by the government to track the value and type of products being imported into or exported out of the country. The certificate acts as a permission slip of sorts, allowing businesses to legally trade internationally. It ensures that all applicable duties, taxes, and compliance norms are being followed. It also helps maintain accurate import-export statistics which aids in formulating trade policies and identifying new opportunities. Overall, the Import Export Certificate plays a vital role in facilitating legitimate trade while preventing tax evasion and illegal transactions.
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