Import Export Code

Import Export Code

Best Import Export Code (IEC) Certificate Provider Company In India:
Import Export Code (also known as IEC) is a 10-digit identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also known as Importer Exporter Code. It is mandatory for companies and businesses to obtain this code to start a business that deals with import and export in the Indian Territory. It is not possible to deal with export or import business without this code. There are certain processes and conditions that you need to fulfill in order to obtain the Import Export Code. You also need to adhere to certain regulations. Once you fulfill the conditions, you can get the IEC code from the DGFT offices. It has several regional offices throughout the country.

Documents

Following documents are required for obtaining new IEC:

  1. For Proprietorship:
    1. Personal PAN Card
    2. Residential address, Pin Code, Phone Number, Father’s Name
    3. Current account of any national or international banks
    4. Bank certificate as per appendix attached
    5. Photographs (passport size) (4 nos.)
    6. Company’s letter heads (two nos.)
    7. Phone number and e-mail id
    8. Type of exporter- Merchant/Manufacturer/Service/Other/Merchant cum Manufacturer (if manufacturer, SSI(MSME)/IEM/Ind. Licence)
    9. Date of formation of business (as per pan card)
  2. For Partnership:
    1. Company’s PAN Card
    2. Residential address, Pin Code, Phone Number on letter head.
    3. Partnership Deed-duly notarized, copy duly self-certified.
    4. Current account of any national or international banks
    5. Bank certificate as per appendix attached
    6. Photographs (any one of signing authority) (4nos.)
    7. Company’s letter heads (two nos.)
    8. Phone number and e-mail id
    9. Type of exporter- Merchant/Manufacturer/Service/Other/Merchant cum Manufacturer (if manufacturer, SSI(MSME)/IEM/Ind. Licence)
    10. Date of formation of business (as per deed agreement)
  3. For Private Ltd./ Ltd.
    1. Company’s PAN Card
    2. List of Directors with, residential address, Pin Code, Phone Number on letter head.
    3. MOA
    4. Current account of any national or international banks
    5. Bank certificate as per appendix attached
    6. Photographs (any one of signing authority) (4nos.)
    7. Company’s letter heads (two nos.)
    8. Phone number and e-mail id
    9. Type of exporter- Merchant/Manufacturer/Service/Other/Merchant cum Manufacturer (if manufacturer, SSI(MSME)/IEM/Ind. Licence)
    10. Date of formation of business (as per registrar of companies)

Procedure

One can file the FSSAI application directly with the government. The process is long and requires 60 days to get completed:

  1. Application Preparation
  2. In order to get code an application must be made in the Aayaat Niryaat Form 2A format to the DGFT in that region where the registered office of the company is established. Government has also arranged online filing facility for obtaining IEC CODE ONLINE.
  3. Application Processing
  4. Details of the business and its proprietors, directors or partners, bank account details and a bank certificate are the basic requirements of ANF 2A. All the required documents for IEC need to be submitted with ANF 2A. Digital signature is required on the ANF2A form.
  5. IEC fee payment
  6. Once the application if complete, it should be filed with DGFT and an application fee need to be paid to the government. IEC department may send back your application for correction / change. You need to reply back to the DGFT in 15 days.
  7. IE Code Issuance
  8. Once the application is completely verified by the department, the Directorate General of Foreign Trade will allot an IE Code for your business. This IE code comes in both soft copy and hard copy. You receive the softcopy via email and can start the import export transaction with this.

Benefits

  1. Business growth
  2. Taking your services or products to the international market will enlarge your businesses. IEC enable you to sell products outside India.
  3. Export Subsidies
  4. On the basis of IEC, companies or firms can benefits and subsidies their exports/ imports from DGFT, Customs and export promotion council.
  5. Lifetime validity
  6. Once you are done with IE Code Registration and submit all the required documents, IE Code is issued for the lifetime of the entity and requires no renewal.
  7. No Return Filing
  8. IE Code does not require filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code.
  9. Individuals can have IE Code
  10. Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.

FAQ's

Any person who intends to import or export goods and services from or to India must obtain Import export Code, one can apply i.e. code online and get their IE code certificate or IE code license online.

No, tax is not levied on Import Export Code. However, custom duty maybe levied. Custom duty depends to the category of the products imported or exported. This can be found at the custom departments’ website.

After submitting all the requisite documents IEC is typically allotted by DGFT in 5-10 days. It is not necessary to show proof of any import or export to obtain IE Code. Now a days, as IEC can we partially applied online with the help of digital signature, IEC can be obtained in less than a week.

If you have taken IEC Certificate in new process e-IEC online, then you can download your certificate any time by login into the IEC portal with your username details. But if you had taken your IEC in physical process, you have to re-apply for e-IEC with all the documents and DGFT will provide you certificate in new online format.

If you or a company wants to modify any details in IEC license, then you can do it online in your IEC application. IEC modification required resubmitting the application with the DGFT once again with all the required documents. Also, IEC modification fee needs to be submitted with the department.

IEC is only a license permitting the import and export of goods. Therefore, no return is required to be filed under IEC code.

You will not need an IEC code under the following cases:
  • Person exporting or importing goods for personal use and not for activities related to business.
  • Persons exporting or importing goods to/from Nepal or Myanmar through Indo-Myanmar border areas, a value of which does not exceed Rs.25,000/- in a single assignment.
  • Ministries or departments of central government do not require obtaining IEC.

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