We help in setting up your business/startup and guide you choose the appropriate business structure.
Import Export Code is required when business entity in india desires to import or export any kind of goods or services. IEC registration certificate is mandatory for business who are involved into import and export. Hence, before initiating an import of goods into India, an importer must ensure that the importing entity has GST registration and IE code – both of which are required to clear customs. IEC is 10 digit code with a permanent validity. With the recent amendment, the IEC code is the entities PAN number.
IEC is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries. Importers are not allowed to import without this code and exporters can’t take benefit of schemes of DGFT, customs, Export Promotion Council, if they don’t have this code.
However, IEC code is not required if a person wishes to Import or Export of Goods for his/her personal use.
Copy of PAN card of the Proprietor/Partner/Managing Director.
Aadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.
Digital Photograph (3x3cms) of the Proprietor/Partner/Managing Director.
Bank Certificate in prescribed format (ANF 2A(I))/ Cancelled Cheque bearing preprinted name of applicant and A/C No.
Rent Agreement of the registered office should be provided if any
Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
Modification:If one wants to modify IEC then if an application for modification or amendment is made within 90 days then no fee is payable but if it is made after 90 days then online payment of Rs. 1000 is required.
Unless the entity obtains IEC, it is not allowed to import or export goods/services into the foreign market. It is a key to enter the international market and widening the scope of business. With IEC, one can take their products or services to the international market and expand business with ease.
The complete process of applying for importer exporter code is simple and hassle-free with the online Import-Export license application. It merely takes 3-4 working days to get the importer exporter code. The applicant can immediately download the e-IEC through the link provided in the mail after uploading documents and payment of the fee.
Once the import-export code is obtained, there are no incidental formalities. Unlike other tax registrations, the IE code holder also does not need to comply with any kind of annual filing or return filing. Also, the code is valid for a lifetime so there is no need for renewal.
The importers and exporters are eligible to benefit from many Government schemes. The entities are eligible for the schemes under DGFT on their import/export. They can avail the subsidies from Customs and Export Promotion Council or other similar government organizations.
The IEC registration is required under the following cases:
No. Import Export Code registration is not compulsory for the below-mentioned activities:
Any individual involved in the import and export of goods or services for the purpose of business can make Import Export Code application. They can obtain the Import Export code by filing an online application accompanied with required documents. In case the person does not have a current account for the business, he/she may provide cancelled cheque of his savings account for the purpose of filing Import Export code application.
It is valid for Lifetime unless the same is withdrawn or surrendered.
No, there is no requirement to make a separate application for different places of business. This is a PAN based registration. Hence, the single registration will be valid for all the businesses and branch under the same entity.
Only a single IEC can be issued against a single PAN card. If at all more than one IEC is issued inadvertently then it has to be surrendered to the regional office
No, there is no penalty for non registration. However, the import or export transaction is not possible without IE code.
Import Export code comes with lifetime validity and therefore it does not require any renewal.
No, there is no compliance to be fulfilled after the import-export license registration is obtained.
Yes, the IEC basic information can be modified by providing all the necessary documents even after the code is issued.
No. IEC registration process is 100 % online. You need to send us documents over mail. Our expert will make application on behalf of your company.
Setup Startup