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Import Export Code

The IEC (Import Export Code) Registration is very mandatory to carry out import in India or export outside India. The IEC license is basically an Import-export code that is issued by the Directorate General of Foreign Trade & Ministry of Commerce & Industries. The IEC license is all thought very important for all the companies & businesses who are willing to widen their business through import & export. Import Export Code/ IEC registration is a 10-digit number that is issued along with Import Export License Certificate to regulate & supervise the foreign trade activities in India.

Even, RBI has made IEC Registration compulsory for all the traders to give their IEC Codes or IEC code online during any payment transfers. Importer exporter code once provided can be applied by the entity all by its existence and it doesn’t certainly require any renewal. When the company has gotten an IEC license, at that point the company can include in import-export necessities with no issues. To check IEC status you can visit DGFT IEC Portal & you can verify IEC code after its registration.

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Eligibility for getting Import Export Code registration

The IEC code registration is applicable for all business registrations:

  • Sole Proprietorship
  • Private limited companies
  • NGOs/ Trusts (Charitable Organization)
  • Partnership
  • One-person Company
  • Limited Liability Company, etc.

If all of the above deals in export and import of goods must register for IEC Registration Today! However, the IEC Code is not applicable for import & export of goods for personal use that is not linked to trade, manufacture or agriculture.

Benefits of IEC Registration

IEC code online open International Markets & Trades

The Import export code is commonly known as the IEC code, which is a 10 digit number issued by DGFT in India. With IEC Certification or IEC license you can easily enter and register for International market places even online as well as Amazon, wish, etc.

In IEC registration no Filing of Returns required

The import-export code/ IEC registration doesn't require any return fillings process. Once the IEC registration is shared, there isn't any need to follow any kind of complex process for supporting its validity. Especially, for even export transactions, DGFT IEC does not compulsory ask filing any returns

IEC license is Government Authorized Proof

IEC code also serves as the government identification as one can show this identity number for permission of the shipments. The various government advantages are also received by having an IEC registration procedure completed.

IEC code online have lifetime Validity

Once received IEC code is valid for the lifetime of companies and requires no renewal. Import Export Code registration can be used by an entity upon all export and import activities.

When IEC Registration in India is required?

It is important to get the Import Export License for Importing and Exporting goods. It sends the dealer code details with the port by that the goods or services are being imported or exported. And hence Import Export Code registration assists in overcoming it because it is nearly difficult to make import-export code without giving the entire information of the items being imported or exported.

  • The custom officials confirm or clear the shipments of an importer who has to receive his shipments from the procedures if he has an IEC number.
  • Companies or business and charitable trusts can avail of several benefits from DGFT IEC, Customs, and Export Promotion Council on import & export by the IEC.
  • The bank needs IEC code online when an importer sends money abroad by banks.
  • IEC online is needed by the bank when an exporter gets money in foreign currency directly into his bank account.
  • IEC code online is required at the customs port where an exporter has to give his shipments.
  • The government of the other country supports the trader when he is having the IEC registration numberli>

IEC Registration procedure


Step 1: Fill Application Form of IEC registration

To get code an application must be done in an online web based portal falling under DGFT IEC. The government has provided an online filing facility for getting IEC CODE ONLINE.


Step 2: Preparation of essential documents for IEC license

Details of the business and its owners, administrators or partners, bank account details. Also, a bank certificate is the primary requirement. Everything the required documents for import export code registration require to be submitted with DGFT IEC.


Step 3: IEC fee payment

Once the form is complete, it must be filed with DGFT IEC and an application fee is required to be paid to the government. The IEC department may give back your application for improvement/change. You require replying to the DGFT in 15 days.


Step 4: IE Code Issuance

Once the import export code registration application is fully verified by the department, the Directorate General of Foreign Trade will give an IE Code for your organization. This IE code appears in both soft copy and hard copy. You receive the softcopy by email and can start the import-export transaction with this.

Documents Required for Getting IEC Code

The following are the documents needed for making an IE Code application in India.


Proprietorship

  • 2 Photograph of the Proprietor
  • Copy of PAN card of the Proprietor
  • Sale deed in case business place is owned
  • Rental/Lease Agreement in case of office is rented/ leased or the latest electricity /telephone bill.
  • Bank Certificate as per ANF 2A (I) or Cancelled Cheque bearing pre-printed name of the applicant and Account No.

Partnership firm

  • 2 Photograph of the Managing Partner.
  • PAN card copy of the applicant entity.
  • ID proof of Partners- Aadhaar Card, passport
  • Copy of Partnership Deed
  • Sale deed in case business place is owned
  • Rental or Lease Agreement if the office is rented leased or the latest electricity /telephone bill.
  • Bank Certificate as per ANF 2A (I) or Cancelled Cheque bearing pre-printed name of the applicant and Account No.

Limited Liability Partnership

  • 2 Photograph of the Designated Partner/Director of the Company signing the application.
  • ID proof of Designated Partners- Adhaar Card, passport
  • Incorporation certificate as issued by the ROC
  • Sale deed in case business place is owned
  • Rental or Lease Agreement if the office is rented or leased. Even the latest electricity or telephone bill.
  • Bank Certificate as per ANF 2 A (I) or Cancelled Cheque bearing pre-printed name of the company and Account Number.

Society or Trust

  • 2 Photograph of the signatory applicant or Secretary or Chief Executive
  • PAN card copy of the applicant entity.
  • ID proof of Designated Partners- Aadhaar Card, the passport of the Secretary or Chief Executive/ Managing Trustee signing the application.
  • Sale deed in case business place is owned
  • Rental or Lease Agreement if the office is rented or leased. Even the latest electricity or telephone bill.
  • Registration Certificate of the Society or Copy of the Trust Deed
  • Bank Certificate as per ANF 2A (I) or Cancelled Cheque bearing pre-printed name of the Registered Society or Trust and A/C No.

Private Limited Company or Section 8 Company

  • 2 Photograph of Designated Partner/Director of the Company signing the application.
  • PAN card copy of the applicant entity.
  • ID proof of Designated Partners- Aadhaar Card, the passport of partners or directors
  • Incorporation certificate as issued by the ROC
  • Sale deed in case business place is owned
  • Rental or Lease Agreement if the office is rented or leased. Even the latest electricity or telephone bill.
  • Bank Certificate as per ANF 2 A(I) or Cancelled Cheque bearing pre-printed name of the company and A/C No. application.

Validity of IE Code

IE Code registration is a continuing registration that is valid for a lifetime. So, there will be no troubles for updating, filing, and renewal of IE Code registration. It is valid until the business endures or the registration is cancelled or resigned. Moreover, unlike tax registrations like GST Registration or PF Registration, the importer or exporter does not need to file any filings or follow any other compliance like annual filing. As IE code registration is one-time and needs no extra compliance, it is approved for all companies and LLPs to get IE code after incorporation. For checking IEC code you have to visit DGFT IEC portal, from where you can verify IEC code/ IEC code online also.

How to verify IEC Code/ IEC license?

To verify IEC code/ IEC license visit DGFT website. Go to DGFT IEC section under service category. And click on the verify IEC Code option. By entering the requisite details you will be able to verify IEC code. In case any problem arises to verify IEC Code contact our CA service online or income tax consultants at SSM-ADROIT.

How to check IEC code?

For checking IEC code one needs to know about the file number and file date otherwise if you have the IEC code number you can also check IEC code.

Exemption of IEC

  • The individual included in import and export of goods for individual reasons and not linked with trade, horticulture, and manufacturing are exempted from getting IEC registration/ IEC license.
  • People who export/import products to/from Nepal and Myanmar by Indo-Myanmar fringe zones and China with the single transfer which doesn't exceed in Indian cash Rs.25, 000 doesn't need IEC.
  • Exception from obtaining import export code license will not be suitable for the export of Special Chemicals, Organisms, Materials, Equipment’s, and Technologies (SCOMET) as noted in Appendix - 3, Schedule 2 of ITC (HS).
SL.No Code Number Categories of Importers / Exporters
1 0100000011 Every ministry or department of the Central Government and agencies fully or partly retained by them.
2 0100000029 Every ministry or department of any State Government and agencies fully or partly held by them.
3 0100000037 Diplomatic personnel, Counselor officers in India, administrator of UNO and its working agencies.
4 0100000045 Indians returning from or going abroad and claiming privilege under Baggage Rules.
5 0100000053 Persons or Institutions or Hospitals importing or exporting goods for private use, not attached to trade or manufacture or agriculture.
6 0100000061 Individuals importing or exporting goods from Nepal.
7 0100000070 Individuals importing or exporting goods from or to Myanmar by Indo-Myanmar border areas.
8 0100000088 Ford Foundation
9 0100000096 Importers importing goods for performance or apply in fairs or exhibitions or alike events under terms of ATA Carnet. This IEC number can also be used by importers importing for exhibitions or exchanges as per Para 2.29 of HBPv1.
10 0100000100 Director, National Blood Group Reference Laboratory, Bombay or their approved offices.
11 0100000126 Individuals, Charitable Institution, Registered NGOs importing goods, that are exempted from Customs duty under Notification circulated by the Ministry of Finance for bonafide use by sufferers hit by natural cause or calamity.
12 0100000134 Individual importing or exporting sanctioned goods as stated from time to time, from. To China by Gunji, Namgaya Shipkila and Nathula ports, subject to worth ceilings of individual consignment as given in Para 2.8(iv) above.
13 0100000169 Non-commercial imports and exports by entities that are approved by the Reserve Bank of India (RBI).

Commercial Public Sector Undertaking (PSU) who have got PAN will, though, be required to get the IEC Code. The permanent IEC number as stated above shall be done by non-commercial PSUs.

Changes under the Introduction of GST for IEC Code

  • • GST is very well known as Goods & service tax in India which was introduced to include all the indirect tax into one tax that is GST. After the implementation of Goods and Services Tax in the GST regime, GSTIN will be used for the credit flow of IGST paid on the import of goods. But, the PAN is an identifier at the entity level of the boundary whereas GSTIN would be used as an identifier at the transaction level for all imports and exports.
  • The UIN or PAN will be taken as an IEC license. All importers needed to demand GSTIN in their invoices in joining IEC Registration. The changes after GST are executed as follows:
  • After the implementation of the GST (Goods and Services Tax), the traders have to submit only their GST Identification Number (GSTIN) at the time of import or export.
  • With the execution of the GST, GSTIN uses for purposes of the credit flow of IGST on the import of goods. Also, for a refund or rebate of IGST linked to the export of goods.
  • According to the announcement issued by the government, IEC registration will not be mandatory for all traders who are listed under GST.
  • Export/ Import done by the Government of India Departments and Ministries, Notified Charitable Institutions must not need to get Import Export Code regist
  • To grow the business and avail the government profits the importer and the exporter need to get the GST number and also Import-Export Code registration.
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