If you are in business of Importing and Exporting of goods in India, it mandatory to have 10-digit Import Export Code. Many a times Import Export Code is abbreviated as IEC. Import Export Code is required for all persons or enterprises involved in Import or Export of goods. Import Export Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. Import Export Code has Lifetime Validity.
Note: It includes only professional fees, government fees would be charged additional.
You can buy the package online from our website and send all the required information via mail.
You would receive the slot timings for Telephonic discussion with the Legal Consultant to gather all the information to prepare the draft.
Your application would be submitted in the government portal.
Your File would be delivered via mail.
- LLP/ Company/ Proprietor’s PAN
- Partners/ Directors/ Proprietor PAN Card
- Address proof of Establishment – Any utility Bill/ Rent Agreement
- Partners/ Directors/ Proprietor Aadhaar Card
- Cancelled Cheque of Company Account, Proprietary Account
- Photo of partners/ Directors/ Proprietor
- Company Incorporation/ Partnership/ Proprietorship Documents
- Resolution from the company/ partnership authorizing any one designated partner to apply for IEC Registration and the authorized designated partner’s digital signature.
FEATURES OF IMPORT AND EXPORT CODE (IEC)
- It is mandatory for every importer and exporter to register under IEC.
- DGFT, Customs, and Export Promotion Council guarantee benefits can be taken from the import or export. The revenue cannot be claimed without this code.
- IEC code has a lifetime validity, you don’t have to renew it again and again.
- Any of the property owner can obtain the code in their name, though it does not necessarily require establishing a business.
- When it comes to IEC no return filling is not required and even import or export transactions are not required to be filed under DGFT.
Benefits of IEC
- Open International Market IEC helps you in taking your organization and products to the worldwide market and develop your organizations. You can also sell your products on international platforms
- Product scaling and Increased Revenue there will be a vast increase in the revenue of the organization
- Several benefits are availed the organization and various companies can avail several benefits from DGFT, customs, etc. as per the IEC registration. On Exports the organization can claim tax benefits as well
- Filing of return is not required IEC does not require the recording of any profits. When allocated, there isn’t any necessity to pursue any kind of procedures for supporting its legitimacy. Notwithstanding for fare exchanges, there isn’t any necessity for recording any profits with DGFT
- Easiest procedure It is genuinely simple to acquire IEC code from the DGFT inside a time of 10 to 15 days subsequent to presenting the application. There isn’t any need to give a proof of any fare or import for getting IEC code
- No need of any renewal IEC code is successful for the lifetime of a substance and requires no recharging. It could also be utilized by a substance against all fare and import exchanges
IEC Stands for IMPORTER EXPORTER CODE Legal Provisions As per section 7 of Foreign Trade (Development and Regulation) Act, 1992 Importer-Exporter Code Number – “No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorized by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General.
Any bonafide person/ company starting a venture for international trade.
Following categories of importers or exporters are exempted from obtaining IEC number:
(i) Importers covered by clause 3(1) [except sub-clauses(e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
(ii) Ministries / Departments of Central or State Government.
(iii) Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
(iv) Persons importing / exporting goods from / to Nepal, Myanmar through Indo-Myanmar border areas and China (through Gunji, Namgaya Shipkila and Nathula ports), provided CIF value of a single consignment does not exceed Indian Rs.25, 000. In case of Nathula port, the applicable value ceiling will be Rs.100,000. However, exemption from obtaining IEC number shall not be applicable for export of Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) as listed in Appendix- 3, Schedule 2 of ITC (HS) except in case of exports by category (ii) above
No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer