IEC Registration

WHAT IS IEC REGISTRATION?

Import Export Code (IEC) is required to import in India or export out of India. It is 10 digit number based on PAN of a person or business entity issued by Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.

How many IEC's are available on one PAN?

Only one IEC will be available on one PAN.

Is there in IEC Modification?

Yes, IEC is modified by filing suitable form to Regional Authority.

Is there an issuance of duplicate IEC?

Yes, Regional Authority issues, duplicate IEC on the payment of prescribed fees.

What is the validity of IE code?

IE Code is valid for a lifetime. No renewal is necessary.

What is the penalty for not having IE code?

IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code.

What is The Need for IEC Registration?

IEC Registration is required to get the License for Importing and Exporting goods. It is enrolled with the dealer code details with the port through which the goods are being imported or exported. Illegal transport of goods is restricted and IEC helps in reducing that as it is impossible to get IEC Registration without giving the complete information of goods. Custom authorities clear the goods only by checking the IEC Registration. Organizations can avail different advantages from DGFT, Customs, and Export Promotion Council on import & export.

What Are The Benefits Of IEC Registration?

The benefit of IEC Registration is that it unlocks the international market. You can considerably enroll for International online commercial centers like amazon.com, Alibaba.com and so on. India has a different strategy, trade the goods and not the taxes which align different fare incentives. You can guarantee the refund of different expenses paid while sending out the products. In some situation, the government even waives the import obligations, in the event that you guarantee to send out the goods within a time period.

What Are The Features Of Import Export Code?

All merchants who import products are required to enlist Import Export Code and all exporters require this code to get the advantages of exports. IEC registration holder does not require to fill any returns, it is issued for the lifetime and requires no renewal. Indeed, people who are proprietors can get the code in their name audit isn't important to set up a business for the same.

Following are the highlights of the IEC Registration:-

  • Business development: Taking your administrations or products to the universal market will expand your organization and IEC empower you to sell your items outside India.
  • Fare Subsidies: Based on IEC registration, organizations or firms can take advantages and subsidies their imports/exports from DGFT.
  • Lifetime legitimacy: Import Export Code is issued for the lifetime of your import export business, person require any renewal process. So once an IEC Code is received, it can be utilized for all transactions without any interruption.
  • No Return Filing: IEC Code does not require the documenting of any return. Once, an IEC Code is issued there is no further process required to keep up the legitimacy of the IEC registration. Regardless of whether import or fare exchanges happen, there are no filings required to DGFT.

What Are The Documents Required For IEC Registration?

Before you apply for import export code, ensure the following documents are with you. Have a look at them:-

  • PAN Card of the applicant,
  • Current Bank account,
  • Identity Proof,
  • Passport Size photographs,
  • Residential address proof,
  • Details of your partners,
  • Digital Signature.

How to do IEC registration?

IEC Registration process is as follows :

1. Provide the required document as mentioned on our website to us as per type of your business entity.

2. Our IEC team examines the provided documents and will prepare IEC application.

3. After preparation IEC application by team, Our IEC Expert will verify and file the IEC Registration application.

4. Once application filed online, it will generate acknowledge receipt to track your application status.

5. Within 5 to 10 working days, DGFT authority will provide the IEC Registration Certificate and a 10 digit IEC number when authority satisfied with the provided details and documents.