What Is IMPORT EXPORT CODE?
IEC is known as many names such as importer exporter code, import export code, import export license, import export number, IE code, IEC license, IE license etc. In simple terms, IEC is a 10 digit code which is provided by DGFT required for import export transactions. You can take IE code in your personal name or company name.
An IEC number issued to applicant shall be valid for all its divisions/ units/ factories/ branches. IEC is valid for lifetime and there is no need to renew the same.
IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can't take benefit of exports from DGFT, customs, Export Promotion Council, if they don't have this code.
What Is Included In Our Import Export Code Package?
Drafting Document
Application Filling
Application Processing
Completion of registration
Application Preparation:
An application must be made in the Aayaat Niryaat Form 2A format to the DGFT in that region where the registered office of the company is established. Government has also arranged online filing facility for obtaining IEC.
Application Processing:
Details of the business and its proprietors, directors or partners, bank account details and a bank certificate are the basic requirements of ANF 2A. All the required documents for IEC need to be submitted with ANF 2A. Digital signature is required on the ANF2A form
IEC fee payment:
Once the application is completed, it should be filed with DGFT and an application fee need to be paid to the government. IEC department may send back your application for correction / change. You need to reply back to the DGFT in 15 days.
IE Code Issuance:
Once the application is completely verified by the department, the Directorate General of Foreign Trade will allot an IE Code for your business. This IE code comes in both soft copy and hard copy. You receive the softcopy via email.
Advantages Of Import Export Code
Business growth:
Taking your services or products to the international market will enlarge your businesses. IEC enable you to sell products outside India.
Export subsidize:
On the basis of IEC, companies or firms can benefits and subsidize their exports/ imports from DGFT, Customs and export promotion council.
Lifetime validity:
IE Code is issued for the lifetime of the entity and requires no renewal. So once an IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.
No Return Filing:
IE Code does not require filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT
Individuals can have IE Code:
Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.
Documents Required for IEC in respect of individual/ Proprietor/ Partner/ Director
- Copy of PAN Card
- Passport size photograph
- Telephone Bill in the name of the Individual (In case of individual)
- Authorization letter (In case of Partnership)
- Authority from other Directors on letter head (In case of company)
- Copy of Partnership deed (In case of Partnership)
- Cancelled cheque of individual
Documents Required for IEC in respect of Entity
- Copy of PAN Card firm/company
- Copy of Property papers (If owned property)
- Copy of Rent agreement (If rented property)
- Landlord NOC (Format will be provided by us)
- Cancelled cheque of firm
- Electricity/ water bill (Business Place)
- Telephone Bill in the name of the business
- Copy of Service Tax returns (In case of Proprietorship)
Features Of Import Export Code
- All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports.
- IEC code holder does not require filing of any returns.
- IEC Code is issued for lifetime and requires no renewal.
- Even individuals who are proprietors can obtain the code in their name. It is not necessary to setup a business for the same.
IEC Registration
Ideal for Start-ups Going for Funding & Growing Business
Import Export Registration
Ideal for Start-ups Going for Funding & Growing Business
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