Import Export Code

Import Export Code

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OVERVIEW

IEC stands for Import Export Code or Importer Exporter Code which is represented by a ten digit number issued by Director General of Foreign Trade (DGFT) Department of Commerce, Government of India. Obtaining this code is a legal requirement for bona fide companies or individuals who want to start a business of import and export in Indian Territory. For example, if you are exporting handloom from India to the United States, you won’t be able to do so without an IEC license.

IEC Code registration is possible online and has lifetime validity. The process for import export code registration is simple and just requires a few documents.

import procedures

BENEFITS OF IEC REGISTRATION

IEC Registration helps you to expand your business outside Indian borders and develop your organization further.
The Companies could benefit themselves in import-export business from the DGFT, Export Promotion Council, Customs, and so on, based on their IEC registration online.
Once you apply for IEC registration, no return filing is needed. Once you get your registration done, there is no further need to prove your legitimacy.There isn’t any prerequisite for documenting any profits with DGFT also. Hence, there is no requirement for filing of returns.
It is very easy to acquire IEC code from the DGFT. This requires a time of 10 to 15 days after applying. There is no need to give a proof of any fare or import for getting the IEC code.
IEC code is valid for a lifetime. After it is acquired, it can be used for a substance against all fare and import exchanges.

 

 

DOCUMENTS REQUIRED

A canceled cheque which states the applicant’s printed name or bank certificate.

Proof of address. You can include any of the following as proof of address:`.

         1.Sale Deed

         2.Rent agreement

         3.Lease Deed

         4.Electricity bill

         5.Telephone Landline bill

         6.MOU Partnership Deed

         7.Aadhar Card only in case of Proprietor

In case the address proof is not in the name of the applicant firm,No Objection Certificate(NOC) by the firm premises owner in favor of the firm along with the address proof is to be submitted as a single PDF document.

 

 

FREQUENTLY ASKED QUESTIONS

IE Code stands for Import Export Code. It is provided for importing or exporting goods and services to or from India.
All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in a bank account. Therefore, the IE Code is required by all involved in import or export in India.
No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied.
Any person who proposes to import or export goods and services to or from India must obtain IE Code.
Yes, individuals acting as Proprietors of a business can obtain IE Code Registration.
To obtain IE Code registration, a copy of PAN Card, proof of address of the business and canceled cheque/ bank statement in the name of the company.
IE Code Registration can be obtained from the DGFT in 2 working days after submission of all required documents and application.
IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import/export will not be possible without an IE Code.
IE Code is valid for life-time of the entity, and renewal is also not necessary.
No. Returns need NOT be filed for IE Code.
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