{"id":2811,"date":"2018-10-16T16:44:29","date_gmt":"2018-10-16T16:44:29","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=2811"},"modified":"2021-05-01T16:54:17","modified_gmt":"2021-05-01T11:24:17","slug":"take-your-business-global-with-iec-registration","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/","title":{"rendered":"Take your Business Global with IEC Code License"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Once you establish a business and initiate the process of obtaining the various license and requisite registrations, it is very much possible for an individual to get confused. A startup to which every single penny matters need to stay very diligent for its investments. IEC is something you must be wondering about when you are in the importing or exporting from India In this article we will discuss obtaining a license to import and export popularly known as IE Code.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3cf06e15d63\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3cf06e15d63\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#What_is_Importer_Exporter_IE_code\" title=\"What is Importer Exporter (IE) code?\">What is Importer Exporter (IE) code?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Who_is_required_to_obtain_IE_Code_Registration\" title=\"Who is required to obtain IE Code Registration?\">Who is required to obtain IE Code Registration?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Importers\" title=\" Importers\"> Importers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Exporters\" title=\" Exporters\"> Exporters<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Eligible_for_IC_Code\" title=\"Eligible for IC Code\">Eligible for IC Code<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Exempted_categories_from_obtaining_IE_Registration\" title=\"Exempted categories from obtaining IE Registration:\">Exempted categories from obtaining IE Registration:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#IE_Code_requirement_in_case_of_import_or_export_of_services_or_technology\" title=\"IE Code requirement in case of import or export of services or technology:\">IE Code requirement in case of import or export of services or technology:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Documents_required_for_applying_for_IE_Code_online\" title=\"Documents required for applying for IE Code online:\">Documents required for applying for IE Code online:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#Process_for_Obtaining_IE_Code\" title=\"Process for Obtaining IE Code&nbsp;\">Process for Obtaining IE Code&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/learning\/take-your-business-global-with-iec-registration\/#GST_registration_and_IEC_License\" title=\"GST registration and IEC License\">GST registration and IEC License<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Importer_Exporter_IE_code\"><\/span>What is Importer Exporter (IE) code?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is a 10-digit unique code required to be obtained from Directorate General of Foreign Trade (DGFT). The IE code is issued and governed by the Ministry of Commerce and Industry, Government of India help you to take your business global. An IEC is issued with lifetime validity and thereafter you are ready to take your business to the next level at a global level.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_is_required_to_obtain_IE_Code_Registration\"><\/span>Who is required to obtain IE Code Registration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Importers\"><\/span> Importers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ol><li>To clear his shipment from the customs, the customs authorities require IE code.<\/li><li>For the purpose of certain dealings with the bank such as for the payment of money, other transactions with the Banks.<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exporters\"><\/span> Exporters<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ol><li>An IEC is also required by the exporter at the customs port when the exporter sends the shipment.<\/li><li>At the time of receipt of any money in foreign currency in his bank account, it is required by the Banks<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligible_for_IC_Code\"><\/span>Eligible for IC Code<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li>Individuals<\/li><li>Proprietorship \/LLP \/Partnership firm<\/li><li>Company<\/li><li>HUF<\/li><li>Government undertaking<\/li><li>Registered trust and society<\/li><li>Other entity<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exempted_categories_from_obtaining_IE_Registration\"><\/span>Exempted categories from obtaining IE Registration:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>Following are the exempted categories to be exempted to obtain IE Code:<\/em><\/strong><\/p>\n\n\n\n<ol><li>In case of the import\/ export pertaining to the personal use and intended not for the commercial purpose.<\/li><li>When the import\/ export is done by the government department and notified charitable organizations.<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IE_Code_requirement_in_case_of_import_or_export_of_services_or_technology\"><\/span>IE Code requirement in case of import or export of services or technology:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In such cases, the IE Code number is required to be obtained only in the case where the provider of service or technology provider is taking some benefit granted under the foreign trade policy or is dealing with specified services or specified technologies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_required_for_applying_for_IE_Code_online\"><\/span>Documents required for applying for IE Code online:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Be ready with following documents, required for <a href=\"https:\/\/swaritadvisors.com\/iec-registration\" target=\"_blank\" rel=\"noopener noreferrer\">IEC Registration<\/a>:<\/strong><\/p>\n\n\n\n<ol><li>PAN Card of the applicant issued by Income Tax Authorities,<\/li><li>Current Bank account,<\/li><li>Identity Proof,<\/li><li>Passport Size photographs,<\/li><li>Residential address proof,<\/li><li>Details of your partners,<\/li><li>Digital Signature,<\/li><li>Banker\u2019s certificate in the specified format<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Process_for_Obtaining_IE_Code\"><\/span>Process for Obtaining IE Code<strong>&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol><li>Obtain Class 2 or class 3 Digital signatures of the authorized person, attachments with the application shall be like PAN Card of the applicant, passport Size photograph of the applicant and canceled cheque \/Bank certificate.<\/li><\/ol>\n\n\n\n<p><strong>NOTE in case the applicant is NRI, RBI approval letter needs to be mandatorily.<\/strong><\/p>\n\n\n\n<ol><li>Visit the <strong>official website of DGFT<\/strong> <a href=\"https:\/\/dgft.gov.in\/\">[1]<\/a> , login into it through the PAN. An OTP shall be sent to mobile and e-mail for<\/li><li>Fill in the form for IEC, submit it, along with the documents and attaching the DSC of the applicant, with the fees prescribed by the government.<\/li><\/ol>\n\n\n\n<p>IEC Certificate is issued within the 2-5 business days.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_registration_and_IEC_License\"><\/span>GST registration and IEC License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em>Let&#8217;s understand the connection:<\/em><\/p>\n\n\n\n<p>The pendulum will swing one side to another side before it reaches the equilibrium state, well for now with the Implementation of GST and IEC have reached in harmony. The government of India through DGFT, for the purpose of facilitating for ease of doing business in India, <em>vide its notification dated 12<sup>th<\/sup> June 2017<\/em>, notified that any person having GSTIN can import or export, into or from India, by declaring the GSTIN at the time of import or export.<\/p>\n\n\n\n<p>But what about the cases where one has not reached the threshold limit for the <strong><a href=\"https:\/\/swaritadvisors.com\/gst-registration\" class=\"text-primary\">GST registration<\/a><\/strong>?<\/p>\n\n\n\n<p>Well for such cases, they may use their PAN as their IEC for which application should be made to DGFT for authorizing PAN of Applicant as IEC.<\/p>\n\n\n\n<p>So Get your IE code help you to take your business global through importing and exporting goods and services and yes don\u2019t get stuck or lost due to the compliances, permissions, licenses from the government, just contact us.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read, Also<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/iec-registration-online-process\/\">Process of Getting IEC Code Online<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Once you establish a business and initiate the process of obtaining the various license and requisite registrations, it is very much possible for an individual to get confused. A startup to which every single penny matters need to stay very diligent for its investments. IEC is something you must be wondering about when you are [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[137],"tags":[1057],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/2811"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=2811"}],"version-history":[{"count":11,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/2811\/revisions"}],"predecessor-version":[{"id":18820,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/2811\/revisions\/18820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/2813"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=2811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=2811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=2811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}