IEC (import export code)

IMPORT EXPORT CODE REGISTRATION PROCEDURE

What is IEC Registration?

Under the Ministry of Commerce & Industries, Government of India The Directorate General of Foreign Trade (DGFT) is authorised to issue IEC Certificate. IEC is a ten digit alpha numeric Code and acts as an Import Export License Certificate which regulates foreign trade in India and is managed by the DGFT. It is responsible for the formulation of trading policies, regulatory framework and issuance of licenses.

IEC Certificate is a PAN based registration and is mandatory for every commercial importer/exporter in India. IEC Code is required to avail the various benefits provided by the government to the importers/exporters. One should note that in the absence of IEC no business can be undertaken in the import export category as the customs department also seeks IEC before clearing the shipment from overseas.

Related Blog: How to Apply For Import Export Code In India

Import Export Code (IEC) once issued can be used by the entity throughout its existence, Therefore the IEC registration does not require any renewal or filing it is valid for the lifetime of the entity. Once the company/firm has obtained IEC, then the company/firm can perform all their import export requirements without any issues.

Features of Import Export Code

  • IEC is the primary proof that a firm/ Company/ entity is an importer/exporter.
  • It is mandatory to obtain IEC for undertaking export/import business in India.
  • Any one having a valid PAN can apply for IEC Registration.
  • Import Export Code is a one-time registration.
Import Export code

Benefits of IEC registration

IEC Registration is mandatorily required to import or export any product from India to any other country. The benefit of obtaining the IEC is that it provides new business opportunities for the registration holder and paves way to reach the international market. Other benefits associated with IEC Registration in India are as follows:

Related Blog: WHAT IS AN IMPORT EXPORT CODE (IEC)?

  1. Growth of Business– IEC helps the business person to expand its business to the global market. By having an IEC code one can export its goods and products and create a brand in the international market.
  2. Availing Several Benefits– DGFT, Export Promotion Council and Customs etc. provide several benefits to companies engaged in import/export on the basis of their IEC registration.
  3. No Compliance Filling of Returns– IEC does not require filing of any returns. IEC Certificate is more than enough.
  4. Trouble-free Processing– Obtaining IEC from DGFT requires professional guidance. The whole process is online and same can be obtained within 2-3 working days .
  5. Free for lifetime- Once obtained IEC code is valid for the lifetime of an entity and requires no renewal. IEC can be used by an entity against all export and import transactions.
  6. Government authorizes proof- Import Export code also works as the government identity as one can show this identity number for clearance of the shipments. The various government benefits are also obtained by having an IEC registration.

IEC REGISTRATION PROCDURE:

To obtain the IEC certificate one needs to apply with the DGFT by filling the requisite form along with the required documents. The whole process is online. The following documents are required for IEC Certificate: 

Documents for Private Limited Company:

  1. PAN Card of Company
  2. Printed Color Cancel Cheque/Bank Certificate
  3. Pan Card of all Directors
  4. Email id and Mobile number
  5. Official Address (Rent Agreement/Purchase Deed or Lease Deed/Electricity. (Any One mandatory))

Documents for Proprietorship:

  1. PAN Card
  2. Color Cancel Cheque
  3. Address Proof – Voter ID/ Passport/ Aadhar Card (Any 1 of them)
  4. E-mail id & Phone No. of Proprietor
  5. Registration Proof (GST or Any Registration Proof )
  6. Official Address (Sale Deed/Rent Agreement/Purchase Deed or Lease Deed/Electricity. (Any One mandatory))

Frequently asked questions:

What is IEC?

IEC is the abbreviation of Import Export Code also known as IE code. Click on the below link to connect with an expert. https://www.caonweb.com/import-export-code.php

Who requires an IEC?

Any one exporting or importing goods and services in India requires an IEC Certificate.

Can Export/Import be made without IEC?

Except for the Central and state government everyone requires IEC Registration.

Can we modify IEC Code?

Yes one can modify and update the Import and Export Code.

What are the benefits of IEC?

IEC is a one tie registration and is valid for lifetime, it does not require any kind of compliance filing.

For more information pertaining to IEC Registration click on the link https://blog.caonweb.com/ (Search & find related topic) 

Import export code

WHAT IS AN IMPORT EXPORT CODE (IEC)?

One needs to adhere to various rules, regulations and other technicalities that international trade has, to make one’s business global. One of the mandatory requirement is Import export code.

What is Import export code?

Import Export Code (IEC) or Import Export License is a Ten digit alphanumeric code allotted which is same as your PAN No. (Exp. XXXXX0000X) and is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce, Government of India. No person or entity is allowed to export or import any article/ goods/ services etc. without having an Import Export Code (IEC) Number.

The validity of the Import Export Code is for lifetime and it is valid for all the branches or factories of the importer/exporter. IEC is a PAN based registration, therefore IEC code online would be issued against a single PAN number. In case there are more than one IECs allotted to any entity the same may be surrendered to the Regional Office for cancellation.

How do I register for Import Export Code (IEC)?

An application shall be filed online in the specified form along with the documents required to the Regional Authority of the Directorate General of Foreign Trade (DGFT) in the region where the office of the company is registered.

The person applying for IEC Code online shall get himself registered in one of the many form of business, for instance:

  • Proprietorship Firm Registration
  • Company Registration
  • Partnership Firm Registration
  • Cooperative Society Registration, etc.

In simple language, there should be a legally registered entity depending upon the requirement of the applicant who is getting the registration.

However there are some exempted categories of Import and exports, who are not required to take an Import Export License (IEC No.) For exp:

  • Ministries/Departments of the Central or State Government;
  • Persons importing or exporting goods for personal use;
  • Persons importing/exporting goods from/to Nepal or Myanmar exceeding certain limit;
  • Some Charitable Institutes; etc.

Read More Blogs: Essentials to Get FSSAI License in India for Restaurant

When is Import Export Code (IEC) Required?

  • When an importer/exporter has to clear his shipments/ send his shipments from the customs
  • When an importer/ exporter sends/receives money from abroad through banks in foreign currency.

What are the documents required for IEC code?

Documents required for Import Export Code or Import Export License are as follows:

  • Digital Photograph (3x3cms) of the Signatory Applicant
  • Self-Attested Copy of PAN card
  • Self-Attested Copy of Passport
  • A list of partners/directors along with address and phone number
  • MoA/AoA or partnership deed
  • Bankers Certificate or cancelled bearing the applicant entities name, Current Bank Account details;

There are various other documents required depending upon the form of your business, it is always advised to take assistance of an expert.

Read more blogs: Top Reasons for Outsourcing Corporate Secretarial Services

Benefits of IEC Registration

  • Export related incentives

     For promoting Export government is providing several benefits on their exports from the DGFT, Export Promotion Council, Customs, etc.

  • IEC Code Online

     DGFT has introduced IEC code online system of filing application along with some simple documents which made the process faster and easier.

  • Pan based Registration

     The Code is based on the Permanent Account Number of the business organisation. Therefore, one PAN one IEC. 

  • Lifetime validity

     Import Export license is a permanent code which is valid for life time till the business is in existence or till the registration is not revoked or surrendered.

  • No Return Filling

There are no prescribed returns in case of IEC, hence no return filing requirement with DGFT.

  • No renewal of Code

Import Export code does not require renewal, once it is obtained it can be used by an entity for all export and import transactions.

Choose Your City For Import Export Code

Import Export Code in Delhi

Import Export Code in Noida

Import Export Code in Bangalore

Import Export Code in Hyderabad

Import Export Code in Kanpur

Import Export Code in Mumbai

Import Export Code in Pune

iec-code-registration-consultants-bangalore

How to Apply For Import Export Code In India

Easiest way to get Import-Export license in India

An import-export code is mandatory for all importers and exporters. An import-export code can be applied online through caonweb.com.  For import export codes in India, the quickest, simplest and cost-effective way is to go to caonweb.com- you simply submit documents by clicking on our service import export code online as required and we will get you your import export code.

Cost effective method of getting Import-Export license in India

Cost of import-export code in India is most reasonable at caonweb.com, import export code starting at INR  3,000/- is available with caonweb.com. So if You are planning to start import export business or if you want to modify any details of import-export code you can reach out to us on caonweb.com and click on import-export code online or just call us at +911204231116. CAonWeb has vast experience and is one of the recognized service providers of import-export code. Doing import-export business without the import-export code is not possible.

How to apply for Import-Export code?

An import-export code can be obtained anywhere in India with just one click through caonweb.com. Our team of experts will help you get your import export code. To know more about import-export code online reach out to caonweb.com. Price of import-export code will be communicated to Clients in advance and we have also quoted the price of same on our service portal which is inclusive of all taxes. Therefore there will be no hidden charges while you apply for import export code online anywhere in India. An import-export code is a certificate and it is valid for lifetime. You can also change or modify the details such as address etc. on the import-export code. We provide registration as well as modification of import-export code online.

Summary: Import Export code which is mandatory for import-export business can be obtained with ease and it can be done online.

Apply import export code

How to apply for import export code

IEC import export code being a mandatory certificate for any person who wants to start the business of import or export of goods or services, every person starting an import-export business will have to apply for import export code. Applying for Import export code with the best service provider in India is a hassle-free task. You can simply submit the documents as requested and get your import export code.

 

The import-export code in Delhi Mumbai Noida Bangalore or anywhere in India can be obtained with one click. Import Export code with the team of experts from caonweb will cost you the best available price in India which is starting INR 3K including all taxes.

You will find all the relevant information on the import-export code in India though caonweb. Know everything in detail about import export code through caonweb. You can ask free advice on import-export code through chat service available at caonweb.com during working hours or you could reach out through the mail or call anytime for import export code. If you want to change any details of the import-export code, this is for those who already have the import-export code, for changing details you can reach out to caonweb. Therefore for those who want to start import export business and for those who already have an import-export business, You can reach out to caonweb for applying import export code or for change in details of the import-export code.

import

Import Export Code in India

IEC registration is required by a person for exporting or importing goods. Obtaining import export code is compulsory for all those who are having an import-export business.  It is a 10 digit code which is issued by the (DGFT) Directorate General of Foreign Trade . 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.

The import-export code can be applied online through caonweb. For import export codes in India- you simply submit documents as required and we will get you your import export code at ease.

Cost of import-export code in India is most reasonable at caonweb, import export code starting at INR 3k is available with caonweb. Caonweb has vast experience and is one of the recognized service providers of import-export code. Doing import-export business without the import-export code is not possible. So if You are planning to start import export business or if you want to modify any details of import-export code you can reach out to us on caonweb.com or just call us at +911204231116.

Our team of experts will help you get your import export code. To know more about import-export code reach out to CAONWEB. An import-export code can be obtained anywhere in India with just one click through caonweb. Price of import-export code will be communicated to Clients in advance. Therefore there will be no hidden charges while you apply for import export code anywhere in India.

iec

Now PAN can be used as Importer Exporter Code with the introduction of GST: DGFT

In a move that would improve ease of doing business in the country, Commerce Ministry has allowed using PAN as Importer Exporter Code (IEC) with the introduction of Goods & Services Tax (GST).

According to the Foreign Trade (Development &Regulation) Act, 1992, no person shall make any import or export except under an IEC number, granted by the Director General of Foreign Trade or the officer authorized by the Director General in this behalf.

Further, FTP, 2015-20 also lays down that IEC, a 10 digit number, is mandatory for undertaking any import export activities, while Para 2.08 of the HBP (2015-20) lays down the procedure to be followed for obtaining an IEC, which is PAN based.

As on date, PAN has one to one correlation with IEC.

With the implementation of the GST from July 1, 2017, GSTIN would be used for purposes of – credit now of IGST on the import of goods, and refund or rebate of IGST related to the export of goods.

Registration No. under GST, called GSTIN, is a 15-digit alpha numeric code with PAN pre fixed by State Code and suffixed by 3 digit details of business verticals of the PAN holder.

“As GSTIN will be used for the purposes mentioned, it thereby assumes importance as an identifier at the transaction level. In view of this, it has been decided that importer/exporter would need to declare only GSTIN (wherever registered with GSTN) at the time of import and export of goods the PAN level aggregation of data would automatically happen in the system,” DGFT said.

Since e obtaining GSTIN is not compulsory for all importers/exporters below a threshold limit of turnover, all exporters / importers may not register with GSTIN (barring compulsory registration in certain cases as provided in section 24 of the Central Goods and Services Tax Act, 2017 (12 of 2017) or in cases where either credit is claimed of IGST), therefore, GSTIN cannot become universal, as IEC is for import/export business.

Further, DGFT recognizes only the corporate entity (single identity) and not individual transactions.

As a measure of ease of doing business, it has been decided to keep the identity of an entity uniform across the Ministries/Departments. Henceforth (with the implementation of GST), PAN of an entity will be used for the purpose of IEC, i.e., IEC will be issued by DGFT with the difference that it will be alpha numeric (instead of 10 digits numeric at present) and will be same as PAN of an entity, said the DGFT.

For new applicants, with effect from the notified date, application for IEC will be made to DGFT and applicant’s PAN will be authorized as IEC.

For residuary categories under Para 2.07of HBP 2015-20, the IEC will be either UIN issued by GSTN and authorized by DGFT or any common number to be notified by DGFT.

Further, for the existing IEC holders, necessary changes in the system are being carried out by DGFT so that their PAN becomes their IEC.

DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard, said DGFT.

IEC holders are required to quote their PAN (in place of existing IEC) in all their future documentation, with effect from notified date of GST.

The legacy data which is based on IEC would be converted into PAN based in due course of time, said DGFT.