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 Filing
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.
Business Growth
Taking your services or products to the international market will enlarge your businesses. IEC enables you to sell products outside India.
Export Subsidy
On the basis of IEC, companies or firms can benefit 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. 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
Documents required for both individual/proprietor/partner/director and entity.
Documents for Individual/Proprietor/Partner/Director
- Copy of PAN Card
- Passport size photograph
- Telephone Bill (In case of Individual)
- Authorization letter (In case of Partnership)
- Authority from other Directors (In case of company)
- Copy of Partnership deed (In case of Partnership)
- Cancelled cheque of individual
Documents for Entity
- Copy of PAN Card (Firm/Company)
- Property papers (If owned property)
- Rent agreement (If rented property)
- Landlord NOC
- Cancelled cheque of firm
- Electricity/ water bill (Business Place)
- Telephone Bill in the name of business
- Copy of Service Tax returns (For Proprietorship)
Features of Import Export Code
- All importers and exporters need IEC for business operations.
- No return filing is required for IEC holders.
- IEC is valid for a lifetime and requires no renewal.
- Individuals can apply for IEC, no need to set up a business entity.
IEC Registration
Ideal for Start-ups Going for Funding & Growing Business
Import Export Registration
Ideal for Start-ups Going for Funding & Growing Business
