What is a Import Export Code?
Now business growth and expansion does not limit to inter-State and national boundaries. The businesses cover wide spread market by capturing attention of international market. Cross border transactions not only form major part of the business, but many businesses exclusively depend on cross border transactions. As a condition to import or export, the business entities are required to get Import Export Code registration as pre-requisite in India.
Import and Export Code is often known as IEC code, which is a 10 digit unique code issued and allotted by Directorate General of foreign Trade (DGFT). The code is allotted on online application made by the applicant under CHAPTER III of The Foreign Trade (Development and Regulation) Act, 1992. The certificate issued is deemed license to clear the imports from customs and process the exports.
Any person or entity from India want to include import and export activity as part of their business, it must obtain this registration as a license to carry on business. Simply, if one wants to start import export business, the code must be obtained first. The process of obtaining Import Export Code (IEC) registration is online and supported with the simple documents prescribed. Apart from the mandate, the registration is beneficial to business in many ways, as the registrant is eligible to obtain benefit of many schemes declared by DGFT, customs and Export Promotion Council. The one time application makes the registration cost nominal.
Advantages of Import Export Code Registration
Global Market Reach increases business opportunities
Benefits from DGFT and Export Promotion Council
No Return Filing or other Compliance
International Market is opened for business
PAN based registration with Life time validity
Renewal of IEC is not required
When IE Code is required?
Required for Import of Goods
Required for Import of Services
By Importer to clear his shipment
Required for Exports of Goods
Required for Exports of Services
By an Exporter to send the shipment
Documents Required For IEC Registration
- 1Digital Signature Certificate of the Proprietor/ Director
- 2Passport Size photograph of the Proprietor/ Director
- 3Address Proof of the Proprietor/ Director
- 4Copy of PAN Card of the Applicant
- 5Copy of PAN Card of Director or Partner
- 6Address Proof of the Place of Business
- 7Cancelled Cheque of Current Account
- 8Certificate of Incorporation, if applicable
- 9MoA & AoA / LLP Agreement / Partnership Deed
Successful Registration in 3 Easy Steps
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Provide basic details & documents required for registration
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Procurement of Digital Signatures (DSC)
Preparation and filing of Application
Procurement of Import Export Code
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Frequently Asked Questions
A business entity must apply for iec registration before engaging in the business of Import or Export of goods and services. No entity can import or export goods or services unless the registration is obtained.
No, the requirement to obtain registration does not arise in following circumstances:
• Goods are imported or exported for the personal use and will not be used for any business or related purpose; or
• Import or export by government ministries and departments, and certain notified charitable organizations.
Yes, an individual can also make the application to obtain the code by filing online application with required documents.
No, there is no requirement to make separate application for different place of business. This registration is PAN based registration, hence the single registration will be valid for all the businesses and branch under same entity.
No, there is no form or monthly/ annual return to be filed after obtaining the code.
No, the registration is granted for lifetime without any renewal requirements.
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Importer Exporter Code (IEC) Registration online
Filing of online IEC code registration application is filed before starting export import activities. The application will be processed by the officer and 10 digit code based on the Permanent Account Number will be issued. The allotment may be delayed due to process insufficient documents or information. The officer may demand additional document to his satisfaction, hence the registration process is hassle-free when handled by the experienced professional. Our team of expert chartered accountants, company secretaries and a network of qualified professionals take care of take that the process of registration application is made by fulfilment of necessary provisions. The registration process can be completed within 5 to 7 working days and the experts on subject matter are available on call or via e-mail to solve your queries and provide assistance.
On grant of registration certificate, the activities can be commenced and the number is required to be mentioned for every transaction of export and import for clearance purpose. Apart from this registration, the exporters are also required to obtain registration under GST law under different category. Also, zero rated supplies can be made by filing Letter of Undertaking (LUT) under GST to avoid the process of refund of taxes paid. The code once granted will be valid till the existence of the entity unless it is surrendered or withdrawn. During the time, the registrant can make the modifications in the registration, if required.
At LegalWiz.in, we cater the consumers who are looking for better, faster and affordable services. We not only assure quality services with tax registrations, but also provide business set-up services, followed by Accounting and Bookkeeping, GST and other tax registrations, Annual Compliance services, Intellectual Property registrations and personalised legal document drafting services and more, serving as one stop solution for all your legal needs. We guarantee highest quality standard backed by 100% customer satisfaction.