IEC [Import/Export Code]
Guaranteed submission of IEC application within two days in the DGFT office T&C*
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Introduction
IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code that has lifetime validity. Predominantly importers merchants cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail of benefits from DGFT for the export scheme, etc. without IEC.
An Importer-Exporter Code (IEC) is a significant business identification number that is mandatory for import to India or export from India. A person/entity cannot export or import without obtaining an IEC unless specifically exempted. However, IEC is not necessary for service exports, except when the service provider is taking benefits under the Foreign Trade Policy.
Eligibility to Get IEC Code
Any type of business registration: sole proprietorship, partnership, private limited companies, charitable organizations dealing with imports and exports in India can register for import export code, irrespective of the size. However, an IEC Number is not required for the import/export of goods for personal use, which is not connected with trade, manufacturing, or agriculture.
Advantages
- Online registration for IEC
The registration of IEC is online which makes hassle–free for importers and exporters to register. A specific portal is authorized by the government only for this purpose. This portal registration form has an attached document that has a list of papers required for registration.
- Not a complicated procedure lesser documents required
The IEC can be obtained by any business organization. Some mandatory documents are required for the IEC registration like the PAN card of the trader, passport size photograph, Address proof of the business, and banking details.
- Scope in the global market
The IEC registration enables businesses to introduce their line of products and services in the international market and expand their area of trade. It increases the global reach of the business and hence unlocks the opportunities which lead to growth and expansion.
- One-time registration lifetime validity
IEC registration validity is for a lifetime. There is no hassle for renewal, filing, or updating. It is valid till the business exists in nature.
- Reduces the risk of unauthorized import and export
IEC helps to eliminate unauthorized imports and export. The centralized registration helps the officials to supervise and administer the transaction undertaken as part of international business. It fulfills the legal obligation of the import-export business.
The IEC code is required for various reasons like when an importer sends money overseas via banks; the banks need to know the IEC code. When the exporter needs to transport his goods, the customs port will require an IEC code. For international transactions, banks require an IEC code. Obtaining an IEC code is mandatory for starting import-export activities. Unless a business has not obtained this registration, the goods or specified services cannot be imported or exported. The trader engaging in exports is also required to get registered under GST as a specific category of registration is specified under the law.
Documents required for IEC (Import Export Code) registration
- For IEC Code Registration, the following documents are required:
- Individual’s or Firm’s or Company’s copy of PAN Card.
- Individual’s voter id or Aadhar card or passport copy.
- Individuals or companies or firms cancel cheque copies of current bank accounts.
- Copy of Rent Agreement or Electricity Bill Copy of the premise.
- A self-addressed envelope for delivery of the IEC certificate by registered post.
- once the online application is submitted by paying the appropriate fees and requisite documents, IEC will be auto-generated. The DGFT will send an intimation regarding the allotment of IEC to an applicant through an SMS and e-mail along with a hyperlink through which the e-IEC can be downloaded and printed.
Exempted category
IEC is compulsory for imports and /or exports. All GST-registered traders are not required to have an IEC. In all of these cases, the trader’s PAN will be interpreted as a new IEC code for import and export purposes. However, the following categories of importers or exporters are exempted from obtaining IEC
- Ministries /Departments of Central or State Government
- Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
- Persons importing/exporting goods from/to Nepal; Bhutan; Myanmar (through Indo-Myanmar border areas); and China (through Gunji, Namgaya Shipkila, and Nathula ports), the CIF value of single consignment of import/export of goods from/to Nepal; Bhutan and Myanmar (through Indo- Myanmar border areas) does not exceed Indian Rs. 25,000/-; and in the case of China:
- For import/export of goods through Gunji and Namgaya Shipkila, the CIF value of a single consignment does not exceed Indian Rs.1,00,000/-
- For import/export of goods through Nathula, the CIF value of a single consignment does not exceed Rs.2,00,000/-.
Categories of Importers or Exporters
- 0100000011 Every one of the Ministries / Departments of Central Government and all agencies that are wholly or partly owned by them.
- 0100000029 All Ministries and Departments that are part of a State Government and agencies wholly or partly controlled by them.
- 0100000037 Diplomatic personnel, counselor staff from India along with officials and staff of UNO and its special agencies.
- 0100000045 Indians returning from or going abroad and who are entitled to benefits from Baggage Rules.
- 0100000053 Hospitals and other institutions that import or export goods for personal use, but not associated with manufacturing, trade, or agriculture.
- 0100000061 People who import/export goods from or to Nepal
- 0100000070 People who import/export goods from or to Myanmar through the Indo-Myanmar border regions
- 0100000088 Ford Foundation
- 0100000096 Importers of goods that are destined for display or use at exhibitions, fairs, or similar occasions under the guidelines in ATA Carnet. This IEC number is also utilized by importers to import goods to exhibits/fairs, as per Para 2.29 of the HBPv1.
- 0100000100 Director National Blood Group Reference Laboratory, Bombay, or their authorized office.
- 0100000126 Individuals / Charitable Institutions / registered NGOs that import goods, which are exempt from customs duty by a notification issued by the Ministry of Finance for bonafide use by those of natural disasters.
- 0100000134 Individuals who are permitted to import or export permissible products according to the guidelines issued from time date, from or to China via Gunji the Namgaya Shipkila Nathula ports as per the value limits of a single consignment, as specified in paragraph 2.8(iv) below.
0100000169 Exports and imports that are not commercial from entities that are authorized by the Reserve Bank of India.
Steps Involved in IEC (Import/Export Code) registration & How we can help ?
- Visit the DGFT Website
- Click on the ‘Services’ tab on the homepage.
- Select the ‘IEC Profile Management’ option from the drop-down list.
- A new page will open. Click on the ‘Apply for IEC’ option on the page.
Determine Eligibility: We can advise on the eligibility criteria for obtaining IEC, which includes having a valid PAN card and a current account with a bank in India. We can also assess whether the business requires any other licenses or permits to operate in the import-export industry.
- Click on the ‘Register’ option. Enter the required details and click on the ‘Sent OTP’ button.
- Enter the OTP and click on the ‘Register’ button.
- Upon successful validation of the OTP, you will receive a notification containing the temporary password which you can change after logging into the DGFT website.
- After registering on the DGFT website, login to the website by entering the user name and password.
- Click on the ‘Apply for IEC’ option on the DGFT website.
Prepare and Submit Application: We can prepare and submit the IEC application on behalf of the business. We can ensure that the application is complete and accurate, and includes all the necessary documents, such as the PAN card, bank account details, and business registration documents.
- Fill out the application form (ANF 2A format), upload the required documents, pay the required fees, and click on the ‘Submit and Generate IEC Certificate’ button.
Liaison with Authorities: We can liaise with the relevant authorities, such as the Directorate General of Foreign Trade (DGFT), to follow up on the application status and resolve any issues that may arise during the application process.
- The IEC code will be generated by the DGFT. You can take a printout of your certificate once the IEC code is generated
Compliance with Regulations: We can ensure that the business complies with all the regulations related to the IEC, such as the periodic renewal of the IEC certificate, maintaining accurate records of import-export transactions, and complying with the Foreign Trade Policy and other relevant laws.
Dispute Resolution: We can assist the business in resolving any disputes related to the IEC, such as challenging the rejection of an IEC application or appealing against any penalties imposed by the authorities.
