Import Export Code

Import Export Code (IEC): Registration required for international trade. Obtain from DGFT, used for customs clearance. Mandatory for export/import transactions and receiving benefits under export promotion schemes.

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What is Import Export Code

An Import Export Code (IEC) is a unique 10-digit identification number mandatory for Indian businesses engaged in importing or exporting goods and services. Issued by the Directorate General of Foreign Trade (DGFT), it facilitates legal trade activities, serves as a primary document for customs clearance, and is necessary for availing various government benefits and schemes related to international trade.

Benefits of Import Export Code

Facilitates International Trade:

Enables businesses to engage in import and export activities legally and smoothly.

Global Recognition:

Provides global recognition to the business as an authorized entity for international trade.

Avail Benefits:

Allows businesses to avail benefits under various export promotion schemes and incentives offered by the government.

Customs Clearance:

Simplifies customs clearance procedures for import and export shipments, ensuring smooth logistics operations.

Importer Exporter Code (IEC Code) Registration Online

International trade is a gateway to a world of opportunities for businesses in India. Whether you’re looking to import goods, export products, or expand your business globally, having an Importer Exporter Code (IEC) is your key to entering the international market. This code is issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce. For importers, the IEC is indispensable for the clearance of customs and facilitating payments to foreign banks, ensuring smooth international trade transactions. Similarly, exporters rely on the IEC to streamline the process of sending shipments and receiving payments from overseas clients.

 

ICMS Consultancy is here to simplify the process for you. Our comprehensive IEC registration services make it easier than ever to obtain the essential IEC certificate, ensuring that you’re well-prepared to explore the global trade landscape.

Validity of IE Code

As mentioned above, IE Code registration is permanent and valid for a lifetime. Hence, there will be no hassles with updating, filing, and renewing the IEC registration. It is valid till the business exists or the registration is not revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirements like annual filing.
 
As IE code registration is one-time and requires no additional compliance, it is recommended for all exporters & importers to obtain IE code after incorporation.

Validity of IE Code

The nature of the Firm obtaining an IEC may be any of the follows:
  • Proprietorship Firm
  • Partnership Firm
  • Limited Liability Partnership
  • Limited Company
  • Trust
  • Hindu Undivided Family (HUF)
  • Society

Validity of IE Code

  • Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal)
  • IEC may be applied on behalf of a firm which may be a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, and Society.
  • The Firm must have an active Firm’s Permanent Account Number (PAN) and details like Name as per Pan, Date of Birth, or Incorporation.
  • The Firm must also have a bank account in the Name of the Firm and a valid address before applying.
  • Note: These details will be validated with the Income Tax Department site.
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Documents required for IEC Code registration

  • Proof of establishment
  • Partnership
  • Registered Society
  • Trust
  • HUF
  • Proof of Address:
  • Sale Deed
  • Rent agreement
  • Lease deed
  • Electricity bill
  • Telephone landline bill
  • MoU
  • Partnership deed
  • Other acceptable documents (for proprietorship only):
  • Voter id

Streamline Your IEC Application with TaxLaabh

ICMS Consultancy can assist you in obtaining an Importer Exporter Code (IEC) in India. Here’s how we can help:

  • Information and Guidance: IndiaFilings can provide you with detailed information about the IEC application process, including the eligibility criteria and the documents required.
  • Application Preparation: We can assist in preparing the necessary documentation, including the application form and supporting documents.
  • Application Submission: IndiaFilings can submit your IEC application to the Directorate General of Foreign Trade (DGFT) on your behalf, ensuring that it is done correctly and promptly.
  • Follow-up and Tracking: We can track the progress of your application and follow up with the authorities, helping you navigate any potential roadblocks or delays.
  • IEC Certificate Delivery: Once your IEC is approved, IndiaFilings can help you obtain and deliver your IEC certificate to you.
  • Expert Consultation: If you have any queries or concerns regarding IEC or international trade, IndiaFilings’ experts can provide you with professional guidance.            
  • Using ICMS Consultancy for your IEC application can save you time and ensure that the process is handled efficiently and accurately, allowing you to focus on your import and export activities.

Frequently Asked Questions

IEC or Importer Exporter Code is a unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies and individuals to enable them carry International Trade. This numeric code is issued on the basis of the PAN of the entity.

To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code number, unless specifically exempted.

An individual or a company who wants to do international business can get an IEC. Individuals can use either the name of their company or their name directly to apply for IEC.

If the buyer fails to make payment of the amount to the supplier as required under section 15, then the buyer is liable to pay compound interest with monthly rests on the amount at three times of the bank rate notified by the RBI.

IEC is issued in electronic form (e-IEC) by Directorate General of Foreign Trade (DGFT) which is under the Ministry of Commerce, Government of India.

Application fee to get IEC is Rs 500/-

• Valid Digital Signatures Token (Class II or III)
• Valid PAN
• Valid Mobile Number and Email ID.
• Valid Address Details of Branch Office
• Valid Bank Account in the name of IEC Holder
• Valid Aadhar Card matching the details with PAN Card

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