Description

Import Export Code

₹ 3,000/- (all inclusive)

  • Provide Required Documents
  • Drafting and preparation of Application
  • Filing of online IEC Code registration application with DGFT
  • Import Export code Certificate.

Documents Requirements

  • PAN Card

A scanned copy of a PAN card of the applicant or the company

  • Address Proof

Sale Deed/ Rent Agreement/ Latest Electricity Bill/ Telephone Bill in name of applicant

  • Cancelled Cheque

A cancelled cheque of current account bearing entity’s pre-printed name or Bank Certificate in form ANF-2A(i)

  • PAN card of Director or Partner

For a company/partnership, PAN card of the Director/Partner is a must

  • Certificate of Registration

Entity should provide the registration certificate with MoA- AoA / LLP Agreement, or a Partnership Deed as applicable

Procedure

Day 1

  • Provide Required Documents

Day 2-3

  • Drafting and preparation of Application

Day 4

  • Filing of online IEC Code registration application with DGFT

Day 5 onwards

  • Government processing time

Knowledge Base

What is Import Export Code?

IMPORT EXPORT CODE (IEC) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export. An IEC is necessary to obtain before you start an Import or Export of goods. In case of Import/Export of Services/Technology,IEC is only required in specified Services/ Specified Technology. These Specified Services/ Technology includes that trade which are restricted by the Government of India as they pertain to National Security, such as dealings in nuclear weapons, automatic guns etc.

IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 – 20 working days or less.

Advantages of Import Export Code

1.Global Markets at Fingertips

Unless the entity holds IEC, it is not allowed to import or export goods/services into the foreign market. It is a key to enter the international market and widening the scope of business. With IEC, one can take their products or services to the global market and expand business with ease.

2.Simple Processing

The complete process of applying for importer exporter code is simple and hassle-free with the online Import-Export license application. It merely takes 3-4 working days for obtaining the importer exporter code. The applicant can immediately download the e-IEC through the link provided in the mail after uploading documents and payment of the fee.

3.Compliance-free

Once the import-export code is obtained, there is no adaptational formalities. Unlike other tax registrations, the IE code holder also does not need to comply with any kind of annual filing or return filing. Also, the code is valid for a lifetime so there is no need for renewal.

4.Government benefits

The importers and exporters are eligible to benefit from many Government schemes. The entities are eligible for the schemes under DGFT on their import/export. They can avail the subsidies from Customs and Export Promotion Council or similar government organizations.

Frequently Asked Questions

1.Can an individual apply for IEC registration?

The IEC registration is required under the following circumstances:

1) It is a pre-requisite for any entity planning to engage in the business of import and export from India.

2) In case of service or technology, if the provider is taking benefits under the Foreign Trade Policy, then the IE code registration is mandatory for them.

2.Whether obtaining IE code is mandatory for all?

No. Import Export Code registration is not compulsory for the below-mentioned activities:

  1. If the import or export of goods is done for the personal use.
  2. If the import or export is carried out by any Government Ministry or department or a notified charitable organization.
  3. Any other category mentioned or defined by the DGFT.

3.Can an individual apply for IEC registration?

Any individual involved in the import and export of goods or services for the purpose of conducting business can make IE Code application. They can obtain the IE code by filing an online application accompanied with required documents. In case the person does not have a current account for the business, he/she may provide canceled cheque of the savings account for the purpose of filing IE code application.

4.Whether copy of PAN Card is required to be uploaded?

No, w.e.f. 09.08.2018, DGFT has integrated PAN web service of CBDT with the server; therefore PAN card is not required to be uploaded. However, for the purpose of filing an application, the copy of the PAN card is required to be submitted to the team.

5.What is the validity of import export code registration?

The Import Export Code comes with a lifelong validity unless the same is withdrawn or surrendered. Once the applicant receives the IE Code, there is no need to re-register as it is a perpetual registration.

6.Whether the separate application is to be made for other branch?

No, there is no requirement to make a separate application for different places of business. This is a PAN based registration. Hence, the single registration will be valid for all the businesses and branch under the same entity.

7.Whether more than one IEC can be issued against one PAN?

Only a single IEC can be issued against a single PAN card. If at all more than one IEC is issued then it has to be surrendered to the regional office.

8.Is there any penalty for not having an importer and exporter code?

No, there is no penalty however, the import or export is not possible without IE code.

9.Is there any compliance after obtaining IEC?

No, there is no compliance to be fulfilled after the import-export license registration is obtained.

10.Whether renewal of IEC registration is required?

Import Export code is allotted with lifetime validity and therefore it does not require any renewal.

11.Can IEC information be modified?

Yes, the IEC information can be modified by providing all the necessary documents even after the code is issued.