Import Export Code (IEC)

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Import Export Code

Overview

IEC Code, for Import Export Code, is compulsorily needed for running the import-export business. In plain words, if you want to begin your import and export business, then you can do the same just by merely taking the import export code registration. The process of obtaining the IEC code is quite clear and can be obtained online by following up on the proper procedure of registration, which you will come to know once you scroll down. However, the process adds some methodological words for which you would need the advice of an expert.

Moreover, the procedure is not special and does not require much of the documents for IEC registration, and the process can be finished online. At MeraLegal, we have already completed several import-export registrations and served thousands of importers and exporters to grow their business further.

Import Export Code (IEC) is 10 digit number approved by the Directorate General of Foreign Trade, following the Ministry of Commerce and Industry, to any bonafide individual /company for running import/export activity. An IEC code is expected to obtain before you begin an import/ export firm in India. An IEC is important for the Import/Export of goods.

Hence, if you desire to register for Import export code (IEC Code), then drop your inquiry on our website, or else you can ask us anytime.

Import-export

How can we help in getting IEC registration?

  • IEC Registration in the least fees
  • Easy to obtain IEC registration and Import Export Code online.
  • No pain with compliances as we fully take charge of them.
  • All your returns will be filed properly
  • Our Expert will submit documents after in-depth scrutiny of documents
  • Our legal agents are available 24*7 to explain the whole process and clear any doubts you may have.

Need for Import Export Code

The following are the conditions under which importers and exporters will mandatory require the Import Export Code:

  • The customs authorities will ask the importers for an Import Export Code at the time of clearing your shipments from customs,
  • When importers transfer funds overseas through banks, the bank will demand an Import Export Code from the importer.
  • When the exporters send shipments, then the customs port will ask an Import Export Code from the exporter.
  • If exporters are paying in foreign currency and the money is deposited directly into the exporter’s bank account, the bank may request the exporter for an Import Export Code.

Advantages

Following are some of the benefits for which you must go for IEC Registration:

  • Benefits in Expansion of Business

    When you register under IEC, there are great opportunities that your business is going to expand a lot. It will help in growing your business and will help you reach out to a large number of customers and markets on an international level. Hence, your business will grow rapidly.

  • Various benefits from different authorities

    Companies may take advantage of many benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., depending on their IEC registration.

  • No need for Filing of returns

    IEC does not need the filing of any class of returns. Once the IE code is granted, there isn’t any requirement to follow any process to maintain its validity. Even in the case of export deals or transactions, there is no need for filing any returns with DGFT.

  • No requirement of Renewal IEC code

    Once the code is issued, there is no requirement to get it renewed. It continues until the company/entity does not get closed down. Hence, do not worry about renewal.

  • Easy and fast Processing

    It is quite simple to get IEC code from the DGFT within a period of 10 to 15 days after applying the application request to the IEC Authority. There isn’t any need to show evidence for any export or import for obtaining IEC code.

Documents Required

In IEC Registration, Documents vary as per the kind of applicant. Here, we are presenting the documents as are necessary for the following type of applicants:

  • 01. Proprietorship
  • 02. Partnership
  • 03. OPC/LLP/Public/Private Company
In the case of proprietorship

If applicant is a proprietorship or individual, then supporting documents are required as below:

  • Copy of self-attested PAN &Aadhar Card
  • Passport size photograph
  • Identity proof such as driving license or voter id
  • Address proof of business premise such as electricity bill, sale deed, registry, etc
In the case of partnership

If an applicant wants to form a registered partnership firm, the below documents are required

  • PAN of the firm along with every partner’s PAN
  • Passport size photograph of each partner
  • Aadhar card of partners
  • Identity proof of every partner
  • Registered deed of partnership firm
  • Bank details such as bank name, account number, IFSC Code, etc
In the case of companies or firms like OPC/LLP/Private/Public Company

If an applicant wants to register as a company or LLP, the following are the documents which are needed:

  • PAN of the entity
  • Passport size photograph of partner or director signing the application
  • Director’s and partner’s PAN
  • Aadhar card of partners/director
  • Identity proof of every partner/director
  • LLP: LLP agreement
  • Company: MOA & AOA
  • Bank details such as bank name, account number, IFSC Code, etc.

Registration Process

You require to understand the below procedure to apply for the IEC Registration:

  • The very first thing in IEC Registration is to fill out the application form on the portal of DGFT (Director General of Foreign Trade) and fill out the application in AayaatNiryaat application form-2A.
  • Collect the complete list of documents, such as identity proof, address proof, etc. along with bank details and the certificate about AayaatNiryaat form-2A.
  • Using Digital Signature Certificate, attach the documents and file the form with the Director-General of Foreign Trade after completing the application
  • Pay the relevant fee for Import Export Code registration.
  • Our legal agents are available 24*7 to explain the whole process and clear any doubts you may have.

Need assistance with the new IEC code application form? Our team of professionals will provide you with the necessary direction starting from creating an application until the issue of the IEC Code and after that compliance, if any.

Frequently Asked Questions ?

IEC full form is Importer Exporter Code

Any bonafide person/ company is beginning an enterprise for International trade.

No, IEC number is the main document for acceptance by the Government of India as an Exporter/ Importer.

Based on IEC, the company can obtain many benefits on their imports/exports from DGFT, Customs, and Export Promotion Council, etc.

There is no fine on not having an IE code, but import and export are not feasible without an IE Code.

Yes, PAN is compulsory. Self-Certified Photocopy of PAN card has to be presented along with the application.

Only one IEC number will be issued against a single PAN card number. Any proprietor is able to have only one IEC code number, and in case there are more than one IECs alloted to a proprietor, the same may be surrendered to the Regional Office for further cancellation.

If there is more than one proprietorship firm belonging to one proprietor, they will be registered as branch offices of the first firm.

An IE code is valid for a lifetime, and thus it doesn’t require renewal.

Following is the exemption for IEC registration:

  • IEC is not a commitment for the traders enrolled under Goods & Service Tax (GST)
  • If there is export or import of any product solely for personal expenditure and not for commercial intent, there will be no need to get IEC code
  • There is no obligation to obtain IEC code in case the import or export is made on behalf of the Government of India by any department, ministry, or notified charitable institute.

NRI must comply with the normal application procedure. Also, permission from RBI/ FIPB is needed in some cases.

Yes, you can petition for modification in IEC, In case of a change in Address, Name, Constitution &, Inclusion of a new address, etc.

Not necessary.