Import / Export Code (IEC) Registration
The first requirement before you start an import / export business in India is to obtain an IEC. In India, having IEC Registration, is mandatory for exporting as well as importing goods in India, for business. Where as a business is in Service export import then IEC is required in only limited circumstances.
IEC Code is ten digit number generated by Director General of Foreign Trade and Ministry of Commerce. IEC can be obtained from any of the Zonal and Regional offices of Director General of Foreign Trade depending on area / region where the individual / company is located. Only one IEC would be issued against a single PAN number. On the basis of IEC, companies can obtain various benefits on their exports / imports from DGFT, Customs, Export Promotion Council etc. The customs will not allow for clearance of goods unless the importer has obtained an Import Export Code (IEC) registration from the regional authority.
The Import Export Code procedure in India is given by DGFT Department. Now Online IEC registration For Individual, Partnership LLP, Private Limited can be completed within 3 - 4 business days.
Benefits of Import / Export Code
- Open International Market IEC helps you in taking your organization and products to the worldwide market and develop your organizations. You can also sell your products on international platforms.
- Product scaling and Increased Revenue there will be a vast increase in the revenue of the organization.
- Several benefits are availed the organization and various companies can avail several benefits from DGFT, customs, etc as per the IEC registration. On Exports the organization can claim tax benefits as well.
- Filing of return is not required IEC does not require the recording of any profits. When allocated, there isn't any necessity to pursue any kind of procedures for supporting its legitimacy. Notwithstanding for fare exchanges, there isn't any necessity for recording any profits with DGFT.
- Easiest procedure It is genuinely simple to acquire IEC code from the DGFT inside a time of 10 to 15 days subsequent to presenting the application. There isn't any need to give a proof of any fare or import for getting IEC code.
- No need of any renewal IEC code is successful for the lifetime of a substance and requires no recharging. It could also be utilized by a substance against all fare and import exchanges.
Documents required for Import / Export Code Registration
- LLP / Company / Proprietor’s PAN
- Partners / Directors / Proprietor PAN Card
- Address Proof of Establishment - Any utility Bill / Rent Agreement
- Partners / Directors / Proprietor Aadhaar Card
- Cancelled Cheque of Company Account, Proprietary Account
- Photo of Partners / Directors / Proprietor
- Company Incorporation / Partnership / Proprietorship Documents
- Resolution from the Company / Partnership authorising any one designated partner to apply for IEC Registration and the authorised designated partner’s Digital Signature
Frequently Asked Questions
What is IE Code?
IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.
Why Do I need to apply IE Code required?
All importers must mention their IEC Code Registration number while clearing customs when their goods arrive in India.Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.
Who must obtain IE Code registration?
Any person who proposes to import or export goods and services from or to India must obtain IE Code.
I am indivial business owner can I obtain IE Code?
Yes, individuals working in capacity as Proprietors of a business can obtain IE Code Registration.
Do I have to file any returns for IE Code?
No. Returns need NOT be filed for IE Code.
How long does it take to obtain IE Code registration?
IE Code Registration can be obtained from the DGFT in 3 working days after submission of all required documents and application.
Can IEC information be changes for Business Address / Bank etc changes?
Yes, from IEC can be modified with online filing. Person need to file Part C and application for IEC modification.
Can I get Duplicate IEC?
IEC Registration can be given per PAN Basis. In case of lost of IEC number, you can download certificate online.