Import Export Code is a registration for Import Export Companies issued by the Directorate General of Foreign Trade. Learn How to get Import Export Code both Online and Offline, Documents Required for filling the Application Form for IEC, etc. Check out why one should register for Import Export Code in order to expand their business and expand over the international market.
IEC Full Form – Import Export Code
- What is Import Export Code?
- How to Obtain Import Export Code Online?
- How to Apply for Import Export Code Offline?
- Documents Required for Import Export Code IEC Registration
- Benefits of Import Export Code IEC
- FAQs on IEC Registration
With growing trends in the business sector, we can see a gradual shift from local to international markets. In Order to Conquer the International Market Activities, you might require an Import and Export Code to perform Import/Export Activities. IEC is a 10 Digit Unique Identification Code that allows business entities to do imports and exports.
- The first and foremost step is to fill a duly filled application form
- Submit the necessary documents.
- Keep the Scanned Copies of the following documents not exceeding 300 KB. i.e. PAN Card, Bank Certificate, Applicant Photograph.
- The exporter needs to have a Net Banking Accounts in any of the banks specified by the authorities.
- Visit the DGFT Official Website and click on the Online Application Form.
- Enter PAN Number and create a New Application by Choosing to Create from the File Menu.
- Fill up the required details and make a payment online.
- Upload the required documents on basis of your firm. proprietorship, Partnership, etc.
- Once the required documents are supported you will get your IEC in 1 or 2 weeks.
- In case of any modifications, there wouldn’t be any fees until 90 days. However, after 90 days you need to make a demand draft of Rs. 1000 to the concerned authority.
- You need to file an application in ANF 2A to the Regional Authority of DGFT in which jurisdiction your registered office is located.
- Keep the documents needed for filing the IEC Application.
- You can download the application form for the issue of Import Export Code Number from the official website.
- Submit the Filled Application along with the necessary documents to the regional DGFT Office or post it to the Regional DGFT Office.
- You will be given a file number that you can use to check the application status on the official site.
Keep the following documents handy for IEC Registration. They are along the lines
- PAN Card of the Applicant or Company
- Self Attested PAN Card of Directors/ Proprietors
- Address Proof such as Sale Deed/ Rental Agreement or Latest Electricity Bill in the Name of the Applicant
- Canceled Cheque of Current Account having pre-printed entity’s name or bank certificate.
- Registration Certificate with MOA-AOA/LLP Agreement or Partnership Deed as applicable.
Global Market Reach – Unless the entity holds IEC it is not eligible for imports/exports in the foreign market. You can take your products into the global market easily and widen your business.
Compliance Free – Once you obtain the IEC there won’t be any adaptational formalities. Unlike other tax registration, you need not comply with annual or return filing. You need not do renewal and can use the Import export Code for Lifetime.
Quick Processing – The procedure for applying the Import Export Code is quite simple and hassle-free. It hardly takes 3-4 working days to get the Import Export Code and you can download e-IEC via the link provided in the email and after completing the fee payment and documents uploading.
Lifetime Validity – Import Export Code is valid for a lifetime and there is no expiry date. You need not renew or update it every year and is accepted all over the nation.
Government Benefits – Importers and Exporters can get benefitted from Government Schemes. You can get subsidies from Customs and Export Promotion Council and other similar government organizations.
1. Who Requires an IEC?
One who is starting a venture for international trade needs an IEC.
2. How much time does it take to get an IEC?
It takes around 5-6 working days to process the application and grant an Import Export Code.
3. Can IEC be hand delivered?
No, IEC can’t be hand delivered, and IEC will be issued in digital format.
4. Is PAN Mandatory for obtaining the IEC?
Yes, PAN is mandatory for obtaining the IEC.
5. Where do you obtain the IEC?
You can obtain the IEC Number Online at DGFT Website i.e. https://dgft.gov.in in the prescribed form ANF 2A.