IEC Registration
IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad. IMPORT AND EXPORT CODE Registration can be done through GST SHINE (IEC CODE AGENT) in Delhi NCR, Mumbai, Kolkata, Chennai & all other Indian cities.
IEC Documents In Respect Of Individual / Proprietor / Partner / Director
Features of Import Export Code
What is Import Export Code ?
IEC(Import Export Code) is known as many names such as importer exporter code, import export code, import export license, import export number, IE code, IEC license, IE license etc. In simple terms, IE CODE NO. is a 10 digit code which is provided by DGFT required for import export transactions. You can take IE code in your personal name or company name.
An IEC number issued to applicant shall be valid for all its divisions/ units/ factories/ branches. IEC is valid for lifetime and there is no need to renew the same.
Features of Import Export Code
Business growth
Taking your services or products to the international market will enlarge your businesses. IEC enable you to sell products outside India.
Export Subsidies
On the basis of IEC, companies or firms can benefits and subsidies their exports/ imports from DGFT, Customs and export promotion council.
Lifetime validity
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.
No Return Filing
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.
Individuals can have IE Code
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.
Steps to Apply Import Export Code
One can file the FSSAI application directly with the government. The process is long and requires 60 days to get completed :
Frequently Asked Questions
Any person who intends to import or export goods and services from or to India must obtain Import export Code, one can apply ie code online and get their IE code certicicate 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.