Import export code
An IEC Code is a 10-digit code Importer Exporter Code, issued by the Director General of Foreign Trade (DGFT). It is mandatory for every entity/ person intending to do the business of Import-Export. It is not required when goods are imported or exported for personal use.
Service Overview
An IEC Code is a 10-digit code Importer Exporter Code, issued by the Director General of Foreign Trade (DGFT). It is mandatory for every entity/ person intending to do the business of Import-Export. It is not required when goods are imported or exported for personal use. In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’. The Import export code is the main requirement to enter into international market which supports the growth and development of the business to a certain standard.
Cost of Digital Signature, Government Fees and Stamp Duty, if any, is payable by the client in addition to the Professional Fee being charged by indian MSME Helpline.
Brief Process
The IEC Code can be applied as follows:-
- Step 1: The Online application for IEC Code is registered on the website http://dgft.gov.in/.
- Step 2: Enter the PAN number to proceed for filing the application.
- Step 3: Fill-in all details and upload the required documents.
- Step 4: Upon completion of form, choose your bank to make payment of Rs. 250.
- Step 5: Once the application is complete, you can take the printout of IEC application.
FAQ
Yes, one can apply for the modification/ updation of IEC.
This is a lifetime certificate and doesn’t require any renewal of it.
It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application.
No, not every firm has to apply for IEC. However, if a person has more than one proprietorship firm then for every firm only one IEC registration is to be taken.
IEC or Importer Exporter Code is a unique 10-digit alpha numeric code issued on the basis of PAN of an entity.
Every person who imports or exports has to take IEC registration. It is mandatory to register a PAN with the DGFT department if the business involves imports or exports even if you have registered under GST.
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Hassle free Registration
The online IEC registration application makes hassles little with simplified documents to be uploaded to support the application.
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Benefits of Schemes
IEC code holders are able to avail benefits in form of subsidies declared by the Customs, Export Promotion Council or other authorities.
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Global Market Reach
This enables the businesses to unlock the opportunities across the globe in international business market as it increases the global reach of the business.
Life Time Validity
IEC registration is valid for the lifetime of the business. Hence there is no need for updating, filing and renewing the IEC registration.
No Compliance
Unlike other tax registrations, the IEC does not require any specific compliances such as Annual Filings or return filings.
Reduces the risk of Illegal transportation
IEC helps to eradicate the illegal transportation or illegal exports and imports, also the accountability of prohibited or restricted transactions is apportioned well.
Documents Required
- Memorandum of association
- Passport Size photograph of the applicant / Partners/ Directors
- Copy of cancelled cheque
- Extract of Board Resolution
- Aadhaar Card of the applicant / Partners/ Directors
- Incorporation Certificate (in case of Company)/ Partnership Deed (in case of Partnership Firm)
- Address proof of the Business PAN Card (Electricity Bill or Rent Deed)
- PAN Card of the applicant
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