Import Export Code (IEC) Registration in India
IE code is issued to a person dealing in import or export of goods. It is a 10 digit code issued by Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. Import Export Code registration is required by all the businesses involved in exporting and importing of goods. It is valid for lifetime.
Without this code, importers are not authorized to import anything and exporters can’t take benefit of exports from DGFT, Customs & Export promotion council etc. The importer needs to quote the import export code at the time of taking clearance from the custom department. It is also used for sending money abroad as bank needs import export code of the importer to send money abroad.
The exporter needs to quote the export import code while sending shipments. It is also used for receiving money from abroad as banks need import export code of the exporter to receive money from abroad.
IEC is known by various names such as importer exporter code, import export license, import export number, IEC license etc. You can obtain IE code in your personal name or company name and is valid for all divisions/units/factories/branches.
Important Features of Import Export Code
It is not necessary to form a business entity for obtaining IE code. You can also obtain IE code in your name as an individual.
There is no need to file any returns in case of IE code. After the issuance of IE code, there is no further procedure needed to maintain the validity of the IE code.
After submitting all the required documents and completing the registration process of IE code, the import export code is issued for the lifetime of the entity and it does not require any renewal.
On the basis of IE code, firms or companies get benefits in the form of subsidies from DGFT, Customs and Export promotion council.
Selling your products or services to the international market will grow your business. The import export code authorizes you to sell products outside India.
What Is Included In Our Package?
Documents Required For Import Export Code Registration in India
In Case Of Director/Partner/Proprietor/Individual
Passport size photograph
PAN card copy
Copy of Voter Identity Card/Aadhaar Card
Authorization letter (In case of partnership firm)
Authority on letterhead from other directors (In case of a company)
Partnership Deed Copy (In case of partnership firm)
Board resolution/ Self-declaration (In case of company)
Telephone bill in the name of individual (In case of individual)
Cancelled cheque of the individual
In Case Of Entity
PAN card copy of firm/company
Copy of property papers (If property is owned)
Copy of rent agreement (If property is rented)
Cancelled cheque of firm
Water/electricity Bill of business place
Telephone bill in the name of the business
Copy of service tax return (In case of proprietorship)
Incorporation certificate (In case of company)
Bank statement of firm/company
MOA and AOA (In case of company)
One Company letter head (In case of company)
Procedure for IEC Registration
To obtain the import export code (IEC), an application must be send to the DGFT in the Aayaat Niryaat Form 2A format in the region where the registered office of the company is established. You can also use the online facility of the government to obtain IE code online.
The basic documents required which helps in processing the application are –
- Details of the business & its proprietors, directors or partners
- Bank account details
- Bank account certificate
All these necessary documents are needed to be submitted with Aayaat Niryaat Form 2A. Digital signature is also required on ANF 2A Form.
After completion of application, it needs to be submitted to DGFT (Director General of foreign trade) with the requisite application fee. The department of import export code may send your application back for modifications or corrections. You need to reply to DGFT within 15 days.
After completely verifying the application, the DGFT will issue an import export code to your business. It comes in both soft copy and hard copy. In case, the hard copy is delayed, you can start the export import transaction on the basis of soft copy you received via e-mail.
How Finacbooks help in IEC Registration in India?
Finacbooks is a leading Indian portal providing accounting, finance & taxation services to small businesses. We are having more than 10 years of experience and help you in to obtain IEC License in India. We will guide you through the entire process of IEC Registration. To avail the best deals on Import Export Code (IEC) registration, kindly call us at 8800221252 or you can also e-mail us at email@example.com
IEC code is not required to be obtained in the following situations –