What is Importer Exporter Code?
Considering the recent trends in the business sector, a gradual shift of businesses is observed from the local market to the international market. To spread reach and conquer the international market, the import and export activities are undertaken which further requires the Import Export Code.
Import Export Code is a 10 digit unique code allotted to the business entities that allow imports and exports. The code is allotted by the Directorate General of Foreign Trade (DGFT) to the applicants.
Register for IEC code online comes with one-time registration and lifetime validity. The process for import export code registration has become simpler with online IEC application supported by a few documents.
Benefits of Importer Exporter Code
Documents required for online Import Export code registration
When is IEC code required?
Obtain IEC in 3 Simple Steps
Process for IEC registration
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|Parameters||Importer Exporter Code||GST Registration||Professional Tax Registration||Shop & Establishments Registration||Proprietorship Firm|
|Applicable To||All importers and exporters||Businesses exceeding prescribed threshold for turnover||Applicability defers based on State Act||Applicability defers based on State Act||All Micro, Small and Medium Enterprises|
|Any business entity undertaking import/export for business purpose from India||If turnover exceeds ₹ 20 Lakh or entity fall under specified category, registration is mandatory||A person earning income from salary or by practicing any profession has to pay the professional tax||All entities need to get registered under shop and establishments at the time of setting up their business||It is not mandatory to register under MSME. Any business entity if wishes can get registered under MSME|
|Regulatory body||Central Government||State and Central Government||State Government||Municipal Corporation||Municipal Corporation|
|The code is granted by Directorate General of foreign Trade, Central Government||The tax is segregated into two parts CGST (central) and SGST (state)||The tax is based on income slab-rates decided by state Government||Governed by Municipal Corporation under whose jurisdiction the business place is situated||MSMEs comes under centrally based Ministry of Micro, Small and Medium Enterprises|
|No return are prescribed to file after registration||Annually, monthly or quarterly based on GSTR type||Monthly or yearly based on professional tax liability||No returns are to be filed after this registration||No returns are to be filed after this registration|
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