Licencing & Registrations -Import / Export Code (IEC) Registration

"IMPORT / EXPORT CODE (IEC) REGISTRATION"

Do you know about Import Export Code (IEC) ?

IEC (importer Exporter Code) number is a 10 digit code number given to an exporter or importer by the regional office of the Director General of Foreign Trade (DGFT), Department of Commerce, Government of India.

Is it applicable to you ?

Import Export Code is applicable in the following cases.

• 1. When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.

• 2. When an importer sends money abroad through banks then it’s needed by the bank.

• 3. When an exporter has to send his shipments then its needed by the customs port.

• 4. When an exporter receives money in foreign currency directly into his bank account then its required by the bank.

Are there any Benefits to get IEC ?

• 1. Expansion of Business: IEC assists you in taking your services or product to the global market and grow your businesses.

• 2. Availing Several Benefits: The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.

• 3. No Filling of returns: IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of processes for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

• 4. Easy Processing: It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.

• 5. No need for renewal: IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.

​

Do you required to submit any documents ?

• Pan car of Individual or Firm or Company.

• Voter ID or Aadhar Card or Passport of Individual.

• Cancelled cheque copy of bank current account of Individual or company or firm.

• Copy of Rent Agreement or Electricity Bill Copy of the premise and

•  Digital Signature Certificate of Applicant.

​

Any Exemption for IEC ?

​

Import Export Code (IEC) isn’t required to be taken in case the goods exported or imported is for personal purposes and isn’t used for any commercial purpose.

Export/ Import done by the Government of India Departments and Ministries, Notified Charitable institutions need not require getting Import Export Code.