IEC (Import Export Code)

Guaranteed submission of IEC application in the DGFT office within two days. Take your company worldwide. With an IEC code, you may apply from anywhere in India.

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Apply IEC Online - Online Registration and Benefites

In this day and age of intense rivalry, everyone wants to expand their business beyond the confines of the home market. Doing business on a worldwide scale has been much easier since the introduction of the internet and technology. However, before doing business on a worldwide scale, you must adhere to a number of processes and rules, as well as get numerous registrations and licenses. When considering importing or exporting from India, an IEC (Import Export Code) license is one of the requirements. It is often referred to as the Importer-Exporter Code.

Anyone wishing to start an import/export firm in the nation must get an IEC (Import Export Code). The DGFT (Director General of Foreign Trade) issues it. IEC is a 10-digit code with indefinite validity. Generally, importer merchants cannot import products without the Import Export Code, and exporter merchants cannot benefit from the DGFT for the export scheme, etc., without the IEC.

Situations in which IEC is necessary

The customs officials require it when an importer has to clear his cargo via customs.
When an importer sends money overseas by bank, the bank requires it.
When an exporter or Importer has to export or import Consignment, the customs port requires it.
The bank requires it when an exporter gets money in foreign currency immediately into his bank account.

The procedures for registering an IEC (Import Export Code)

Go to the DGFT website.
On the homepage, click the 'Services' option.
Choose 'IEC Profile Management' from the drop-down menu.
A new page will be shown. On the page, select the 'Apply for IEC' option.
Select the 'Register' option. Enter the relevant information and press the 'Sent OTP' button.
Enter your OTP and press the 'Register' button.
When the OTP is successfully validated, you will receive a notice with the temporary password, which you may change after logging onto the DGFT website.
After enrolling on the DGFT website, log in using your username and password.
On the DGFT online dashboard, select the 'Apply for IEC' option.
Select the 'Start Fresh Application' option.
Enter basic information, proprietor/partner/director/Karta/managing trustee data, bank information, other details, attach Digital Signature Certificate (DSC), and pay.
It will be routed to the DGFT website after successful payment. The receipt will be shown. Please save the receipt for future reference.
The IEC Certificate will be delivered through email. It is available for download after entering onto the DGFT website and selecting the 'Print IEC' option under the 'IEC Profile Management' section.

The Benefits of IEC Registration

Business expansion

IEC helps you take your services or products to a worldwide market and build your business.

Obtaining various advantages

On the basis of their IEC registration, the companies might receive many incentives for their imports/exports from the DGFT, Export Promotion Council, Customs, and so on.

There will be no filing of returns.

The IEC does not require the submission of any returns. Once granted, there is no need to go through any form of process to keep it legitimate. Even for export transactions, no returns are required to be filed with DGFT.

Processing is simple.

It is quite simple to receive an IEC code from the DGFT within 10 to 15 days of filing an application. There is no requirement to submit proof of any export or import in order to obtain an IEC code.

There is no requirement for renewal.

IEC code is valid throughout the life of an entity and does not need to be renewed. Once received, an entity might apply it to all export and import operations.

Cases in which the Import Export Code (IEC) is not required

According to the most recent government circular, IEC is not required for all GST-registered traders. In all such circumstances, the trader's PAN should be interpreted as a new IEC code for the purposes of import and export. Import Export Code (IEC) is not required if the products exported or imported are for personal use only and are not utilized for business purposes. Government of India Departments and Ministries, as well as Notified Charitable Institutions, are exempt from obtaining an Import Export Code.

Import Export Code's Importance

The benefits of earning an IEC are numerous, and a sample of these advantages is emphasized below:

Global Market Access:

The IE Code serves as a gateway to international markets, making it easier for items to enter the global market. Indian enterprises enjoy better access to international commerce by obtaining an IE code, creating prospects for development and progress.

Online Registration Has Been Simplified:

he procedure of obtaining an IE Code has been completely computerised, providing a hassle-free experience with minimum paperwork input.

Minimal Documentation:

Obtaining an IEC does not involve a lengthy document filing procedure, making the process more efficient and uncomplicated.

Perpetual Validity:

An IE Code registration is valid for the duration of the business's operations. This avoids issues regarding Import-Export Code registration renewals, revisions, and filings, as the registration stays active throughout the company's life.

Access to a Wide Range of perks:

Importers and exporters that use an IE code can take advantage of a wide range of perks. Subsidies from agencies such as Customs and the Export Promotion Council are available to registered enterprises. Furthermore, exporters can participate in tax-free exports by filing a Letter of Undertaking (LUT) under GST. Alternatively, if taxes are paid during exports, exporters can receive tax refunds.

Compliance is simplified:

Unlike other tax registrations, those involved in import and export activities are not burdened.

Import Export Code Validity

An IEC certificate is good for a lifetime. This implies that once an Importer-Exporter License is secured, it is valid for the entity's whole import and export operations. After a given term, there is no need to renew or update the Importer-Exporter License.

The Firm's Nature for Obtaining an IEC Code

Any individual, corporation, partnership firm, Limited Liability Partnership (LLP), or other form of organization involved in import or export activities can get an IEC certificate. Having an IEC certificate is required for all such transactions, whether you are an exporter or importer. Even if a company is not currently involved in import or export activities, but intends to do so in the future, it must get an IEC first.

When Import Export Code is not required

Individuals who import and export in India for personal purposes unrelated to trade, agriculture, or manufacturing
Parties/individuals who import/export products to/from Nepal and Myanmar via Indo-Myanmar border areas and China (via Namgaya Shipkila, Gunji, and Nathula ports) shall not exceed the amount of 25,000.
According to ITC appendix 3, schedule 2, the exemption from acquiring an import-export license does not apply to the export of materials, organisms, specific chemicals, equipments, and technology (SCOMET).
Central and state government ministries and departments.

How do you get your IEC certificate?

Access your IEC certificate by logging in to the DGFT's official website.
Go to the Services area and choose IEC Profile Management.
Scroll down to My IEC, then click Print IEC.
Follow the instructions below to download your IEC certificate in PDF format.

How to Modify Your IEC Code

In addition to registering your IEC, it is essential to review and update all relevant company information on a regular basis. Failure to update these adjustments as an importer or exporter might result in discrepancies during customs inspections. Keeping modifications like PAN updates, director changes, and the addition or removal of partners up to date can help to speed up the export process.

IEC modification and renewal

The IEC must be renewed every year, which usually takes place between April and June. Failure to renew your import-export certificate may result in its termination. Here's how to renew your IEC.

Log in to the DGFT site and enter your Importer-Exporter License.
Select 'Update/Modify IEC' and create a new application.
Revise and amend your information before submitting the application.

Documents Required for IEC (Import Export Code) registration

PAN Card duplicate of an individual, corporation, or company.
Copy of the proprietor's voter ID, Aadhaar card, or passport.
Proof of the partnership, society, proprietorship firm, company, HUF, etc.'s establishment, incorporation, or registration.
Proof of business premise address, such as a sale deed, leasing agreement, or utility bills (electricity bill, telephone bill, or mobile bill).
Individual, corporate, or firm cancel cheque copies of current bank accounts.
A self-addressed envelope for registered mail delivery of the IEC certificate.

FAQs on IEC Registration Services

Question: Can individuals obtain IEC?
Answer: Individuals acting as business proprietors can get IEC registration. Individuals can apply for IEC registration using their own name or the name of their firm.

Question: Should I update my IEC profile on a yearly basis?

Answer: Yes. Every year, the IEC profile must be updated. The IEC profile will be disabled if it is not updated. After a successful update, a deactivated IEC can be reactivated. However, reactivation is subject to the condition that no additional action be taken for any infringement of the Foreign Trade Policy

Question: Is IEC really required?

Answer: Yes. For imports to or exports from India, an Importer-Exporter Code (IEC) is required. It is a crucial business identification number for an import/export company. Unless explicitly exempted, a person or company cannot export or import without an IEC. However, IEC is not required for service exports unless the service provider is taking advantage of Foreign Trade Policy incentives.

Question: How long does it take to obtain the IEC code?

Answer: IEC will be created automatically when the online application is filed with the proper fees and papers. The DGFT will send the IEC Certificate to the applicant via email.

Question: Is an IEC number required for service exporters?

Answer: An Import Export Code (IEC) is not required unless the service provider wishes to profit from the Foreign Trade Policy.

Question: Who issues IEC?

Answer: The Import-Export Code (e-IEC) is issued in electronic form by the Directorate General of Foreign Trade (DGFT), which is part of the Government of India's Ministry of Commerce.

Question: Who needs an Import Export Code?

Answer: Anyone/company involved in international trade of export and import of goods and services must register for an IE code.