Updated on August 24, 2024 12:57:29 PM
The import-export code is a registration code for import-export enterprises that are registered with the Indian Customs Department and specialize in the import and export of goods. The IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India, in Rajasthan.
To get the Import Export Code in Rajasthan., apply to the Directorate General of Foreign Trade, along with the required documents. After application submission, the DGFT will issue the entity's IE Code within 15-20 working days. Once you have obtained an IE Code, it is valid for a lifetime and does not need to be renewed. The IE code in Rajasthan. is valid until the business closes.
Unlike GST and PF registrations, IE code registrations do not involve any filing or other compliance requirements.
Thus, once issued, the IE Code Registration is valid forever and does not require renewal. Therefore, most businesses importing or exporting goods and services from India must get an IE code. Most importer merchants are only able to import goods with an IEC code, and exporter merchants are unable to benefit from the DGFT Department's export scheme. Banks require importers' IE Codes when transferring or receiving money abroad, and importers must quote IE codes while clearing customs and sending shipments.
However, running an import-export firm without an IEC code is illegal and can lead to difficulties in clearing goods from ports and completing foreign currency transactions.
IEC Certificate [Sample]
IEC code is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to ease the foreign trade in India.
Import Export Code registration in Indore is mandatory for every import-export business. You are not allowed to import or export goods in Indore without IEC code registration.
While an IEC code allows you to operate import-export business in Rajasthan, It comes with some additional benefits. Let’s take a look at how obtaining an IEC code will help your import export business :
The IEC code facilitates your overseas trade and legalizes your import and export business. It makes your trade across borders easy and legal.
EFT is a new service offered to exporters that allows them to pay the license fee online via the internet rather than visiting a bank to make the payment.
Following documents are required for IEC registration in Rajasthan:
Any Proprietorship firm, LLP, Company, Trust, LUF or Individual engaged in any of the following foreign trade activities is eligible for obtaining an IEC Code :
You can register for the Importer Exporter code offline as well as online. The online registration process is effortless, and you don’t need to go anywhere. The process is carried out in 5 steps :
Directorate General of foreign Trade(DGFT) is an online government portal where you can register for the import export license in Rajasthan. Your first step is to register on this portal.
The second step is the application phase where all your documents are arranged and prepared for application. Refer to the documents required for better understanding.
An importer/exporter is required to file an online application in ANF 2A(i) and submit the required documents for verification. You also need to pay the government fees to complete the application process.
Once your application is submitted, it is sent to DGFT for verification. In case there is wrong or incomplete information, Your license will be canceled. So, make sure you provide correct information.
Your IEC code will be issued after the approval by DGFT. In case of online application you will get e-IEC. Once approved by competent authority, you will be notified through email or SMS that your e-EIC is available on the DGFT website.
Register your import and export business with Professional Utilities to get your IEC Certificate . You get the free consultations and quick service at lowest Price with us.
Apply for IEC code Now
Import Export License registration fees include the government fees and professional fees. It also includes the ANF 2A form and filling at DGFT. The fees break up are as follows
| IEC Registration | Fees |
|---|---|
| Aayaat Niryaat Form 2A | NIL |
| Filing at DGFT | NIL |
| Government Fees | ₹500 |
| Professional Fees | ₹999 |
| Total – ₹1,499 only | |
Note: The aforementioned Fees is exclusive of GST.
Unlike other government licenses, The Import Export Code was not required to be renewed and was valid for a lifetime. However, after the amendments in the Import Export code related provisions under chapter 1 and Chapter 2 of Foreign Trade Policy on 12th February 2021, the IEC code has now to be renewed every year
This amendment made the renewal of Import Export Code details mandatory for every IEC and e-EIC holder. Even if there are no updates in IEC, the same has to be confirmed online on the DGFT portal. Failing to do so may result in the deactivation of your Import Export code.
To summarize, the Import and Export Code (IEC) is critical for organizations involved in international trade. This will provide you access to global marketplaces and facilitate cross-border transactions. Registering with the IEC allows businesses to simply manage customs procedures, expand their reach, and capitalize on global opportunities. This period is critical for encouraging growth, ensuring compliance, and laying a solid basis in the dynamic world of international trade.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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One year. Earlier, the Import-Export code came with lifetime validity, but according to the new norms of Foreign Trade, Now It is mandatory for every IEC code holder to update their IEC every year during the April- June period.
Even if there are no changes, the same has to be confirmed online, or else your IEC code will be deactivated.
No, there is no need to file a return for the IEC code. You need it while importing/Exporting goods. There are no after-registration compliances attached with IE code registration.
IEC code is not required in the following cases
At professional utilities, we take 5-15 working days for the whole process.
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