GET IN TOUCH
IEC Code which stands for Import Export Code is compulsorily required for conducting the import-export business. In simple words, if you want to start your import and export business, then you can do the same just by simply taking the import-export code registration. The process of taking the IEC code is quite easy and can be obtained online by following the proper procedure of registration which you will come to know once you scroll down. However, the process includes some methodological terms for which you would be requiring the help of an expert.
Further, the procedure is not technical and does not require much of documents for IEC registration and the process can be completed online. At Registration SEVA, we have already completed a number of import-export registration and helped thousands of importers and exporters to further expand their business.
Import Export Code (IEC) is a ten-digit number granted by the Directorate General of Foreign Trade under the Ministry of Commerce and Industry, to any bonafide person/company for carrying out import/export. An IEC code is required to obtained before you start an import/ export business in India. An IEC is necessary for the Import/Export of goods.
Hence, if you want to register for Import export code (IEC Code), then just drop your query on our website or else you can call us anytime.
Following are some of the advantages for which you must go for IEC Registration:
Helps in Expansion of Business
While registering for Import Export Code, there are high chances that your business is going to expand a lot. It will help in expanding your business and will help you in reaching out to a large number of customers and markets on an international level. Hence, your business will grow leaps and bounds.
Multiple benefits from different authorities
Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.
No need for Filing of returns
IEC does not require the filing of any kind of returns. Once the code is allotted, there isn’t any requirement to follow any sort of process to sustain its validity. Even in the case of export transactions, there is no requirement for filing any returns with DGFT.
Easy and fast Processing
It is quite 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.
No requirement of Renewal
Once the code is allotted, there is no need to get it renewed. It lasts until the company/entity does not get wound up. Hence, no worry about renewal.
Need for Import Export Code
The following are the circumstances under which importers and exporters will mandatorily require the Import Export Code:
- At the time of clearing your shipments from customs, the customs authorities will ask the importers for an Import Export Code.
- When importers send funds overseas through banks, the bank will ask the importer for an Import Export Code.
- When shipments will be sent by the exporters, then the customs port will ask the exporter for an Import Export Code.
- When exporters are paid in foreign currency and the money is transferred directly into the exporter’s bank account, the bank will ask the exporter for an Import Export Code.
In IEC Registration, Documents differ as per the category of an applicant. Here, we are discussing the documents requirement for the following type of applicants:
- OPC/LLP/Public/Private Company
In the case of proprietorship:
If the applicant is a proprietorship or individual, then following documents are required:
In the case of partnership:
If the applicant is a registered partnership firm, following documents are required:
In the case of companies or firms like OPC/LLP/Private/Public Company
If the applicant is registered as a company or LLP following are the documents which are required:
You need to follow the below procedure to apply for the IEC Registration:
- The very first in IEC Registration is to fill the application form on the website of DGFT (Director General of Foreign Trade) and fill the application in AayaatNiryaat form no. 2A format.
- Gather the complete list of documents, such as address proof, identity proof, etc. along with bank details and the certificate with regard to AayaatNiryaat form no. 2A.
- After completing the application, attach the documents and file the form with the Director-General of Foreign Trade using Digital Signature Certificate.
- Pay the applicable fee for Import Export Code registration.
- After the approval of the application, DGFT issue the IEC Code in soft copy such as via registered email.
Need help with the new IEC code application? Our team of experts will provide you with the necessary guidance starting from completing an application till the issue of IEC Code and thereafter compliance if any.
How can we help in getting registration?
Some of the greatest reasons to pick us are:
01. What is IEC?
IEC Stands for Importer Exporter Code
02. Who requires an IEC?
Any bonafide person/ company starting a venture for International trade.
03. Can Export/Import be made without IEC?
No, IEC forms a primary document for recognition by Government of India as anExporter/ Importer.
04. What are the benefits of IEC?
On the basis of IEC, companies can obtain various benefits on their exports/ imports from DGFT, Customs, and Export Promotion Council etc.
05. Is there any penalty on not having an IE code?
There is no penalty on not having an IE code but import and export is not possible without an IE code.
06. Is PAN Number/PAN card essential / What are the alternatives?
Yes, PAN is mandatory. Self-Certified Photocopy of PAN card has to be submittedalong with the application.
07. Whether more than one IEC can be issued against one PAN?
- Only one IEC would be issued against a single PAN number. Any proprietor canhave only one IEC number and in case there are more than one IECs allotted to aproprietor, the same may be surrendered to the Regional Office for cancellation.
- In case of more than one proprietorship firm belonging to one proprietor, they willbe indicated as branch offices of the first firm.
08. What is the validity of an IE code?
An IE code is valid for lifetime and thus it doesn’t require a renewal.
09. Who are exempted from obtaining IEC registration?
Following is the exception for IEC registration:
- IEC is not an obligation for the traders registered under Goods & Service Tax (GST)
- If there is export or import of any product merely for personal consumption and not for commercial purpose, there will be no need to obtain IEC code
- There is no requirement to obtain IEC code in case the import or export is done on behalf of the Government of India by any department, ministry, or notified charitable institute.
10. Can an NRI apply for registration?
NRI has to follow the normal application procedure. In addition, permission from RBI/ FIPB is needed in some cases.
12. Can we modify IEC?
Yes, you can apply for modification in IEC, In case of change in Address, Name, Constitution &, Inclusion of new address etc.
11. Do Foreigners require residence in India?