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Importer Exporter Code (IEC Code) License

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    Importer Exporter Code (IEC Code) License

    or Import to India. Unless specifically exempted, any person shall make no export or import without obtaining an IEC. For services exports, however, IEC shall not be necessary except when the service provider is taking benefits under the Foreign Trade Policy. Consequent to the introduction of GST, IEC being issued is the same as the PAN of the Firm. However, the IEC will still be separately published by DGFT based on an application. This article looks at the procedure for making an IE Code application in detail.

    Import & Export Code is to be obtained by the business entity for import into or export from India. Import & Export Code is popularly known as the IEC number. Import & Export Code is a ten-digit unique number issued by the Directorate General of Foreign Trade (DGFT).

    IEC registration certificate is mandatory for a business involved in import and export. Hence, before initiating an import of goods into India, an importer must ensure that the importing entity has GST registration and IE code – both of which are required to clear customs.

    If an importer does not have both IE code and GST Registration, the goods will be stuck at the port and start incurring demurrage charges or could be destroyed.

    Businesses have a great option to enter the international market with the export and import of the products and the services they are involved in. The IE code is an essential requirement while entering the global market as it supports the growth and development of the business to a certain extent. There are various advantages of getting an Import Export Code. Here we have listed a few of them:

    • International market unlocks: As the IE Code is a requirement for the import and export business, they allow the products to reach the global market. IE code makes the entry of the international Indian company smoother and opens doors for growth and expansion.
    • Online registration: The process to find the IE Code is entirely online and hassle-free with short document submission.
    • Less document requirement: It is not required to submit many documents to obtain an IEC.
    • Lifetime Validity: IE Code is a lifetime registration valid as long as the business exists. Hence, there are no issues with updating, filing, and renewing Import Export Code registration. The IE registration is valid until the company exists or the registration is not revoked or surrendered.
    • Reduces illegal goods transportation: The most basic requirement for the Import-Export code is that you need to provide authentic information. Without giving proper information, IE code cannot be obtained. This criterion makes the transportation of illegal goods impossible.
    • Availing Several Benefits: IE code has enormous benefits for importers and exporters. The registered business entities can get help through subsidies from the Customs, Export Promotion Council or other authorities. With LUT filing under GST, the exporters can make exports without paying taxes. If the exports are made with tax payment, the exporter can claim the refunds of the paid tax amount.
    • Compliances: Unlike other tax registration, the person carrying import or export does not require to fulfill any specific compliance requirements such as the annual filing or the return filings.

    As mentioned above, IE Code registration is permanent and valid for a lifetime. Hence, there will be no hassles with updating, filing, and renewing the IEC registration. It is valid till the business exists or the registration is not revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirements like annual filing.

    As IE code registration is one-time and requires no additional compliance, it is recommended for all exporters & importers to obtain IE code after incorporation.

    Nature of the Firm obtaining an IEC

    The nature of the Firm obtaining an IEC may be any of the follows:

    • Proprietorship Firm
    • Partnership Firm
    • Limited Liability Partnership
    • Limited Company
    • Trust
    • Hindu Undivided Family (HUF)
    • Society

    Pre-Requisites for Applying for IEC

    • Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal)
    • IEC may be applied on behalf of a firm which may be a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, and Society.
    • The Firm must have an active Firm’s Permanent Account Number (PAN) and details like Name as per Pan, Date of Birth, or Incorporation.
    • The Firm must also have a bank account in the Name of the Firm and a valid address before applying.

    Note: These details will be validated with the Income Tax Department site.

    The list of scanned documents required for IEC Registration is listed as follows:

    • Proof of establishment/incorporation/registration: The following type of Firm needs to submit the establishment/incorporation/registration certificate:
    • Partnership
    • Registered Society
    • Trust
    • HUF
    • Other
    • Proof of Address: Proof of Address can be any one of the following documents:
    • Sale Deed
    • Rent agreement
    • Lease deed
    • Electricity bill
    • Telephone landline bill
    • Mobile, post-paid bill
    • MoU
    • Partnership deed
    • Other acceptable documents (for proprietorship only):
    • Aadhar card
    • Passport
    • Voter id

    Note: In case the address proof is not in the Name of the applicant firm, a no objection certificate (NOC) by the firm premises owner in favor of the Firm, along with the address proof, is to be submitted as a single PDF document.

    • Proof of Firm’s Bank Account
    • Canceled Cheque
    • Bank Certificate
    • User should have an active DSC or Aadhaar of the Firm’s member for submission.
    • Active Firm’s Bank accounts for entering its details in the Application and making online payment of the application fee.

    The procedure to get the Importer Exporter Code Certificate is explained in detail below:

    Step1: Visit the official DGFT website. Click on the ‘Services’ tab on the homepage and Select the ‘IEC Profile Management’ option from the drop-down list.

    Step2: A new page will open. Click on the ‘Apply for IEC’ option on the Page.

    Step3: Click on the ‘Register’ option. Enter the required details and click on the ‘Sent OTP’ button.

    Step4: Enter the OTP and click on the ‘Register’ button.

    Step5: Upon successfully validating the OTP, the User will receive a notification containing the temporary password, which can change after logging into the DGFT website.

    Step6: After registering on the DGFT website, log in to the website by entering the user name and password.

    Step7: Post login, click on “Apply for IEC” on the Dashboard. Click on the “Start Fresh Application” button or the “Proceed with Existing Application” button if the User has already saved a draft application.

    Step8: Fill out the application form (ANF 2A format), and Enter the details in the General Information Section:

    • Select nature of Concern/Firm
    • Enter Firm Name
    • PAN Details
    • Select Preferred Activities
    • Enter corporate entity number (CIN)
    • Enter GSTIN Number of Concern/Firm
    • Enter Firm Mobile Number
    • Firm Mail ID
    • Enter firm address
    • Attach address proof of the Firm
    • Enter the details in the “Details of Proprietor/Partner/Director/Karta/Managing Trustee” Section
    • Enter the details in the “Bank Account Details” Section
    • Enter the details in the “Other Details (Exports Sectors preferred)” Section

    Step9: Under the declaration, accept the terms and conditions by clicking on the check box.

    Step10: Check the Application Summary and click on the Sign button to sign the Application using a digital signature certificate or Aadhaar.

    Note: These details will be verified in real-time from the CBDT database.

    Step11: Confirm and proceed to make the payment against the Application.

    Step12: After Successful Payment, the Page shall be redirected to the DGFT Website, and the receipt shall be displayed; the User can also download the ticket.

    The User shall receive the IEC Certificate in the email (used while applying for IEC). If required, the User can download the IEC Certificate after login into the DGFT and using the “Print Certificate” feature in “Manage IEC.”

    The IEC shall be transmitted to CBIC, and the transmission status can be seen by Navigating to “My IEC” and checking the IEC Status bar with “CBIC Transmission Status.”

    The Import Export Code is a primary document that is necessary for commencing Import-export activities. For exporting or importing any goods or services the IE code is to be obtained.IEC has numerous benefits for the growth of the business. Certainly, you cannot ignore the necessity of IE code registration as it is mandatory. You can apply for an Import Export code through IndiaFilings and obtain it within 6 to 7 days.

    FAQ's

    What is Import-Export Code (IEC)?

    IEC is a 10-digit identifying number called the Import Export Code (often referred to as the IEC code), given out by the Director General of Foreign Trade (DGFT), Department of Commerce, Government of India. It is also known as Importer Exporter Code. To begin an enterprise that deals with imports and exports in Indian territory, organizations, and businesses must receive this code. Without this IEC code, it is unlawful to do export or import operations.

    How do I find my IEC code?

    There are specific procedures to adhere to in order to apply for and obtain an import export code (IEC) in India. Every applicant must follow these steps.

    • On the DGFT website, you need to complete the online IEC application form.
    • Click on “Apply for IEC” at www.dgft.gov.in.
    • Your mobile number and email address both will receive an OTP for verification.
    • A username and password will be sent to your registered email address after your mobile and email have been verified. Use these credentials to log in.
    • Select the button “Apply IEC (Import Export Code)” after logging into your account. Then, click “Start Fresh Application.”
    • Complete all needed fields and submit all the required documents.
    • After submitting the form, a fee of INR 500 needs to be paid.
    • After a Successful transaction and payment approval, an IEC certificate would be sent to the registered e-mail id.
    • You can start doing the Import-Export business after you get your IEC (Import Export Code) code.

     

    Is GST mandatory for the IEC code?

    The IEC does not require the GSTIN to be updated or included. However, it has been made known that PAN would identify as an IEC on all IECs issued starting from 1 July 2017.

    How can I get IEC for Importer?

    Following steps indicate the steps for the IEC Importer registration procedure:

    • Go to the DGFT website www.dgft.gov.in
    • Then select the “Services” tab.
    • Several DGFT services, including the “IEC” option, will be included in a drop-down menu that will appear.
    • Select “Online IEC Application.”
    • Enter your PAN card number and other details (A Person/If a Company PAN Card) number.
    • If the proprietor is an entity firm, enter the PAN card number for the entity firm.
    • Put your information in the columns (As Mentioned on your PAN Card)
    • You will notice an area where you must input the necessary information in this phase, including your name, date of birth, and Fill the Captcha Code
    • Complete the (OTP) verification process by entering your contact number and email id.
    • Update and fill up the application entity details
    • Update the Branch Details (Within 15 minutes)
    • Update the director and partner information.
    • Upload the scanned copies of required documents such as an address proof, a cancelled check, or a bank certificate. Choose the document type as PDF or JPEG.
    • Fee Payment (Net Banking with a Debit or Credit Card) of Rs. 500, as the government charge for IEC application.
    • View & Print the application.
    • Click on “Submit and Generate IEC Certificate”

     

    What is the fee for IEC Code?

    According to the most recent notification on IEC by the government, the IEC code registration charge is a minimal sum of Rs 500 and can be paid online with credit or debit cards, e-wallets, or net banking. So, in India, the government charge or official fee for obtaining an IEC code is Rs. 500.

    Who issues IEC?

    The Directorate General of Foreign Trade (DGFT), which is part of the Ministry of Commerce, Government of India, issues IEC in electronic form i.e., (e-IEC).

    What documents are required for IEC Code?

    The following documents are required for IEC Code Registration:

    • PAN Card copy of the individual /company.
    • Copy of Voter ID card /Aadhar card /passport of the individual.
    •  Individual’s/company’s copy of cancelled checks of the current bank account.
    •  Copy of the rent agreement or electricity bill of the registered premise.
    • A self-addressed envelope for receiving delivery of the IEC certificate by a registered post.

     

    How do I find my importer number?

    You get Importer number in the IEC code registration documents.

    How long does it take to obtain the IEC code?

    IEC code can be easily obtained from the DGFT within 10 to 15 days of the application being submitted.

    Can I import without IEC?

    A vital business identification code known as an Importer-Exporter Code (IEC) is necessary for exporting from or importing into India. No person may export or import without first obtaining an IEC unless particularly exempted.

    • According to India’s Foreign Trade Policy (FTP), every importer and exporter must get an IEC code before beginning to import or export goods from India. No importer or exporter is permitted to conduct import or export activity without an IEC code
    • IEC Code for Non-GST Registered Individuals: All new applicants who are exempt from the GST registration requirement / who do not have GST numbers must submit an application to the DGFT, and their PAN will be certified as an IEC.

     

    Can I import without GST?

    With effect from July 1st, 2017, importers must have a GST registration since their GSTIN must be displayed on their bills of entry in order to pay IGST and to claim the input tax credit. The importer would just have to disclose the GSTIN (where registered under GST). The IGST Act, 2017, defines the import of goods as the movement of products into India from a location outside India.

    Can I import from China without an IEC code?

    In accordance with the Foreign Trade Policy (FTP), the Director General of Foreign Trade (DGFT) provides the IE Code. Nobody is permitted to import or export goods from any country without having an IE Code.

    What is IEC for shipment?
    3 days ago

    The final step in exporting/ import of products is shipment, and in order to successfully complete shipment clearance, one must demonstrate IEC. The DGFT (Director General of Foreign Trade), Department of Commerce, Government of India, issues the import-export code, also known as the IEC code, which is a 10-digit identifying number. Importer Exporter Code is another name for it.

    What is the importer code?
    3 days ago

    Ans: Importer code, is also known as an IE code or Import-Export code. All the importers and exporters who conduct business in India are required to have an import export code, or IEC, which is a distinct 10-digit code.

    What is the fee for the IEC code?

    The importer name should be preceded by the IEC number without the use of any special characters or brackets. For instance, you may add “0XXXXXXXXXX PRERNA DATES LTD” in the importer’s name column of the IGM_Cargo specifications. Additionally, prefixes like /s., m/s., M/S., etc. should be avoided.

    How do I check my IEC code?

    PAN Based IE code is produced by DGFT offices spread out across the nation, and it is compiled at DGFT headquarters. Click the IE Code @DGFT button to check whether your IE code has been delivered to the DGFT headquarters and to scrutinize the accuracy of your IE code data.

    How do I find a company’s IEC code?

    In order to obtain an IEC Code for a company simply go to the DGFT website. Then, enter the pre-generated user name and password to access the DGFT website after registering there. Select “Apply for IEC” from the drop-down menu on the DGFT website. Click on the “Submit and Generate IEC Certificate” button after completing the application form (in ANF 2A format), upload all the necessary documents, and make the required payment.

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