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Overview of IEC Registration

With the rapid upsurge in globalization, nowadays, the opportunity of having a cross border business is also increased. Moreover, an IEC Registration also assists an individual in unlocking the growth opportunities of the international business. It is mandatory for every individual willing to expand his business on a global platform by dealing with the Import and Export business to obtain IEC registration.

Hence, having an IEC (Import and Export Code) is one of the basic and essential prerequisites for expanding and running a business at the global level. Moreover, an IEC has various advantages annexed to it. One such benefit of an IEC Code is that it not only assists in unlocking the international market but also helps in increasing the business's growth level.

What is an Import Export Code?

IEC or Import-Export Code is a 10-digit code that an individual or a business needs for the import or export goods or services. Further, this code is allotted by the Director General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.

The validity period of the IEC code is for a lifetime of the individual. This means that there is no need for the IEC code holder to apply for its renewal. Hence, the company having IEC is able to perform all requirements concerning import-export and related issues.

Usually, a period of 12-15 working days is required for the generation of IEC code once all the required documents are submitted and corrections are made. Further, having an IEC is mandatory and compulsory for every commercial importer or exporter in India. Hence, the business not having IEC is not qualified to undertake the category of import and export.

What are the Benefits of the IEC Code?

Benefits of IEC Code Registration

The benefits of IEC Registration is mentioned below:

  • Expansion of Business: With the help of IEC registration, an individual can easily and smoothly expand the business's reach in the global market. Further, an IEC not only provides an opportunity for the business to export goods outside India but also assists in creating a name for oneself in the international market.
  • Availing Several Benefits: Based on IEC registration, nowadays, businesses can enjoy and avail benefits provided by the EPC (Export Promotion Council), DGFT, and Customs.
  • No Need to File Return: There is any need to file return in IEC. Hence, after the allocation of IEC Code, there is no need to abide by any procedure for proving its legitimacy. In case of, any event, relating to export transactions, DGFT does not require the filing of any return.
  • Hassel-Free Processing: The process of obtaining IEC registration from the DGFT (Director General of Foreign Trade) is genuinely simple and easy. Moreover, the same can be acquired within a period of 10-15 working days from presenting the application. Further, no evidence relating to export or import is needed subsequent for obtaining IEC Code.
  • Free for Lifetime: Once an individual has obtained his or her IEC, he or she can enjoy its validity till perpetuity since it is free for a lifetime, and there is no need to apply for any renewal.
  • Government Authorise: Import Export Code (IEC) acts as a government identity which is issued by the Director General of Foreign Trade. Hence, at the time of shipment clearance, one can show this identification number to the customs authorities.

When is IEC Registration required?

The situations which mandatorily require IEC Registration is listed below:

  • When an importer wants to clear his shipments from the customs authorities, this code is required by the customs authorities.
  • Whenever an importer sends money abroad by way of banks, then the banks need this code.
  • If an exporter wants to send his shipments abroad, this code is required by the customs port.
  • Whenever an exporter receives money in the form of foreign currency directly into his bank account, then this code is required by the bank.
  • For obtaining Food Licensing and APEDA Licensing, having IE Code is a must.
  • Whenever an exporter wants to avail of some export subsidy, then this code is required by the export promotion council.

When is IEC Registration not required?

IEC Registration is not needed in the following circumstances:

  • Import and Export of Goods and Services for personal use, i.e., the goods that are not related to the trade and manufacturing.
  • Import and Export of Goods and Services by the Government Ministries and departments.

What are the Features of the Import Export Code?

The features of IEC Registration is explained below:

  • No business can indulge in the activities concerning Import or Export without obtaining IEC registration.
  • IEC works as evidence for the firm involved in the import or export of goods and products
  • Once an individual has obtained IEC, then the same remains valid for a lifetime. This means this code does not require any filing or renewal.
  • IEC Registration is not required for the goods or services imported or exported either for individual or legislative purposes.
  • An IEC Registration is obligatory and mandatory for making foreign bank transfers.
  • It is considerable for all parts of importers or exporters business.

What are the Exemptions under Import Export Code?

The exemptions under Import Export Code are as follows:

  • The individual who is engaged in importing and exporting goods for individual purposes and not related to the trade, manufacturing, and horticulture are exempted from obtaining IEC registration.
  • People who want to export or import products to or from Nepal and Myanmar by way of China and Indo-Myanmar fringe zones with a single transfer that does not exceeds Rs. 25,000 in Indian cash does not require IEC Registration.
  • Exemption from acquiring IEC registration will not be valid for the export of SCOMET (Special Chemicals, Organisms, Materials, Equipment and Technologies) as provided in Appendix - 3, Schedule 2 of the ITC (HS).

What are the Documents needed for obtaining IEC Registration?

The following listed are the documents needed by a Sole Proprietorship Firm for obtaining IEC Registration:

  • Digital photograph (3*3) of the proprietor
  • A copy of proprietor’s PAN Card
  • A copy of proprietor’s Passport, Voter ID, Driving License, UID
  • A copy of sale deed, if in case the business is self-owned
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.

The following listed are the documents needed by a Partnership Firm for obtaining IEC Registration:

  • Digital photograph (3*3) of the managing partner
  • A copy of the Partnership Deed
  • A copy of the Managing Partner’s PAN Card
  • A copy of Passport, Voter ID, Driving License, UID of the MD (Managing Partner) signing the document.
  • A copy of sale deed, if in case the business is self-owned
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.
  • Bank certificate according to ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant entity

The following listed are the documents required by a Limited Liability Partnership and Company for obtaining IEC Registration:

  • Digital photograph (3*3) of the Company’s Director or LLP’s Designated Partner who is signing the application
  • A copy of applicant’s PAN Card
  • A copy of Passport, Voter ID, Driving License, UID of the MD (Managing Partner), or the director signing the document.
  • A copy of sale deed, if in case the business is self-owned
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.
  • Bank certificate according to ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant entity

The following listed are the documents required by a Trust for obtaining IEC Registration:

  • Digital photograph (3*3) of the Managing Trustee or Chief Executive or the signatory applicant
  • Certificate of Registration of the society
  • A copy of the Trust Deed
  • A copy of Passport, Voter ID, Driving License, PAN card, UID of the Managing Trustee, or Chief Executive or the signatory applicant signing the document.
  • A copy of sale deed, if in case the business is self-owned
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.
  • Bank certificate according to ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant entity

The following listed are the documents required by a Hindu Undivided Family (HUF) for obtaining IEC Registration:

  • Digital photograph (3*3) of the Karta
  • A copy of Karta’s PAN Card
  • A copy of Passport, Voter ID, Driving License, UID of the Karta
  • A copy of sale deed, if in case the business is self-owned
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.
  • Bank certificate according to ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant entity

What are the steps included in the Procedure of IEC Registration?

Procedure of IEC Registration

The step included in the procedure of IEC Registration is listed below:

  • Application Preparation: An application is required to be made in the Aayaat Niryaat Form 2A format to the DGFT (Director General of Foreign Trade) in that region company has established its registered office. Further, the government has also initiated an online filing facility for acquiring IEC Code Online.
  • Application Processing: Details concerning business and its proprietors, partners or directors, bank certificate, and the details regarding bank account are the basic requirements of Aayaat Niryaat Form 2A (ANF 2A). Further, all the documents required for obtaining IEC need to be submitted with ANF 2A. Moreover, DSC digital signature certificate is also needed on the ANF 2A.
  • IEC fee payment: Once the application form for obtaining IEC is duly complete. Then the same must be filed with the DGFT (Director General of Foreign Trade). Further, the fee prescribed is required to be paid to the government. Furthermore, IEC department has the authority to send back the application submitted for correction or change. The applicant is needed to reply back to the DGFT within 15 days.
  • Issuance of Import Export Code: Once the application submitted is completely verified and examined by the IEC department, the DGFT will then allot an Import Export Code for the applicant’s business. This IE code comes in both hard and soft copy. Even if the applicant receives the softcopy by way of email, then also he or she can start the import-export business transaction with this.

What are the changes made under IEC for GST (Goods and Services Tax)?

After the enforcement of the GST regime, the GSTIN (Goods and Service Tax Identification Number) would be used for the credit flow of IGST (Inter-state Goods and Service Tax) paid on the import of products. However, PAN is an identifier at the substance or entity level of the limit. In contrast, GSTIN would be applied as an identifier at the transaction level for each import and export. Further, the UIN (Unique Identification Number) or PAN (Permanent Account Number) would be acknowledged as IEC. Furthermore, all the importers are required to state GSTIN in their solicitations, nevertheless IEC.

The changes made after the implementation of GST Laws are as follows:

  • After the implementation of GST it is mandatory for the traders declare their GSTIN at the time of import or export.
  • GSTIN would be used for the credit flow of the IGST on import of goods, and for the rebate or refund of the IGST concerning the export of goods.
  • Obtaining IEC will not be obligatory for all traders registered under GST.
  • Exports or Imports done by the Ministries, Government of India Departments, Notified Charitable Institutions do not require Import Export Code.
  • IEC is not necessary for the goods imported or exported for personal use.

How will Swarit Advisors help you?

  • Registration Category Consultation
  • Document Preparation
  • Application Drafting
  • Application Filing

FAQs for IEC Registration

IEC is the acronym for Import Export Code, and it is mandatory for an individual who wants to start an Import or Export business across the country. Further, an IEC code is issued by the Director General of Foreign Trade (DGFT). IEC Code is basically a 10-digit code that has lifetime validity.

The following listed are the documents needed for obtaining IEC Registration:

  1. Copy of PAN Card.
  2. Passport/Voter ID/Aadhar Card of the individual.
  3. Cancelled cheque of the Current Bank Account.
  4. Copy of the Rent Agreement.
  5. Copy of the Utility Bill in the form of electricity bill for premises.

The steps to change the IEC Code are mentioned below:

  1. Enter the PAN card details and search button, and then the system will prompt for following.
  2. Company’s Name, File Number, Date of Incorporation, and File Date
  3. The Name and Date of Birth will be verified and cross-checked from the CBDT PAN web server, and the File number and date will be authenticated from the DGFT-IEC application.
  4. The system will then dispatch the tokens, and OTP (One Time Password) is generated. The applicant is then required to enter the OTP and press button to proceed.

PAN (Permanent Account Number) number of a company will be used to obtain IEC. The IEC is issued by the DGFT (Director General of Foreign Trade). Further, PAN is different and distinct as it is alphanumeric. In contrast, IEC has 10-digits in numeric form.

Yes, a single individual or person can apply for IEC (Import Export Code) only when he has registered as a sole proprietorship business and is having a registered GST number.

The process of checking the status of IEC Code is explained below:

  1. Visit the official website dgft.gov.in.
  2. Now, click on to Services and then opt the icon IEC.
  3. Then click to view IEC status.
  4. Now, the applicant is required to enter details asked and then press the button to proceed.

A Branch Code in an IEC is the code that is issued as per details filled in the Application Form, while applying for Import Export Code. The Branch Code is essential only when a company has its branches or any other place of business in India besides its main location.

An IEC code is required to do Import and Export business from India. This Code is used for clearing goods from the customs authority.

No, a person is not eligible to import goods without having an IEC Code.

Import Export Code (IEC) is issued by the DGFT (Director General of Foreign Trade), Ministry of Commerce and Industries, Government of India.

After filing an online application form, one can obtain his IEC registration. Further, once the process of obtaining IEC is complete, then the certificate is granted by the Director General of Foreign Trade, which has the lifetime validity.

A Draft Certificate is a new feature that provides advantages like one can modify progress without even deleting and re-issuing the certificate as well as can allow incrementally modify progress over various multiple sessions.

Usually, it takes a period of 12 to 15 days.

No, obtaining DSC (Digital Signature Certificate) is not mandatory for getting an IEC Code.

Any individual who is having a registered business such as a Company, Partnership Firm, LLP, etc., and who wants to engage in the business of Import and Export is eligible to apply for IEC code.

Cancellation of an allotted IEC (Import Export Code) is only made possible by surrendering the same.

No, only one IEC is issued to a single person or entity. Hence, if anyone wants more than one IEC code, then the same world be surrendered to the Regional Office for Cancellation.

Yes, one can surrender his or her IEC Code. Further, for surrendering an IEC code, one needs to inform about such a decision to the issuing authority. And, then they shall immediately cancel the applicant’s IEC number after electronically transmitting it to the DGFT for onward transmission of the same to the Customs and Regional Authorities.

No, there is no imposition of tax on the IEC code. However, Custom’s Duty may be imposed. Further, the same also depends on the category of the products being imported or exported. Furthermore, for obtaining more information, one should go on to the official website of the Customs Department.

If, in case, an individual has taken IEC Certificate by following the new process of e-IEC online, then he or she can download his or her certificate any time by just logging in into the IEC portal with the provided username details. However, if the said individual had taken an IEC by following the physical process, he or she have to re-apply for the e-IEC with all the documents. After that, the DGFT will provide a new format online certificate to the concerned individual.

An IEC Code is neither hand-delivered nor over the counter. This code is actually delivered by way of speed post. Further, in the case of deficiency letters, the same is delivered at the IEC counter, together with the Application form and Documents to the authorized person or Applicant.

Yes, we will send you the mail regarding the IEC code, since the whole process of registration is carried out online.

Yes, and IEC number is displayed in all customs documents concerning to exports and imports.

Only one IEC is issued to a single individual or entity.

An Import and Export business is not possible without having a valid IEC. Further, the penalty imposed may include paying heavy-duty depending upon the quantity of the goods.

MEIS Scheme stands for the Merchandise Export from India. Under this scheme, various rewards and incentives are provided to the exporters. Further, such incentives are offered to exporters at a prescribed rate. Furthermore, the incentives offered varies from product to product.

We provide services related to IEC registration across all over the India. Moreover, we have already completed IEC registration for various clients in Mumbai, Delhi, Chennai, Gujarat, Bangalore, Uttar Pradesh, Kolkata, etc.

An IEC (Import Export Code) is just a license authorizing the import and export of goods. Thus, there is no need to file Monthly Return under IEC code.

Yes, an NRI can apply for obtaining IEC Code, as per the standard prescribed procedure. However, in some of the exceptional cases, the permission from RBI or FIPB is also required.

Any individual who is having a registered business such as a Company, Partnership Firm, LLP, etc., and who wants to engage in the business of Import and Export is eligible to apply for IEC code.

IEC is the acronym form for the Import Export Code. This code is required for everyone who wants to engage in the business of Import and Export. However, import and export of specifically exempted does not require IEC Number.

The prescribed government fee for applying IEC registration to DGFT (Director General for Foreign Trade) is Rs. 500. Further, the fee prescribed for obtaining registration is paid online along with the application for IEC Registration.

Yes, providing PAN Card details is mandatory for obtaining IEC registration.

Often there is a misconception that separate IEC codes are required for import and export, but it is not the case. A company can use the same IEC code for both import and export. By obtaining a single Import and Export number, the company can conduct both these activities.

Since IEC is a one-time registration process, so it has validity for a lifetime. Thus, there is no need to renew the IEC License. It has to be quoted at the time of import/export or while paying or receiving the payments. There are no post-registration IEC compliances so one is not required to file for IEC returns.

An IEC applicant can easily modify the application several times until it is submitted for processing. One needs to login with the same details as mobile, PANand email again.

Click onto the link of submitting the application with a digital signature provided in the main IEC Application. Thereby, the Certifying Authority will issue Minimum Type II Certificate. The digital signature on the application should be of the applicant only.

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