Import Export (IEC) Code
IMPORT EXPORT CODE ( IEC ) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/company for carrying out import/export. An IEC code is required to obtained before you start an import/ export business in India. An IEC is necessary for Import/Export of goods.
Benefits of Import Export (IEC) Code
2. The Export benefits- like various type of tax refunds
3. Permanent Registration
4. No Compliance for IEC registration
5. No Annual maintenance fees
Import Export (IEC) Code Registration Process
|Submission of required documents completed in all aspects.
|Preparation and submission of application by the professional
|Issuance of License.
4 to 5 working Days subject to government processing time.
Advantages of Import Export (IEC)
EXPAND BUSINESS OVERSEAS
IEC helps you to take your product or services to the overseas market and expand your businesses.
OBTAIN DIFFERENT BENEFITS
The Companies can obtain different benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc, on the basis of IEC.
NO RETURN FILING
This code doesn’t require the filing of any return. Once it is allotted, there is no need to follow any process to sustain its validity. Even in case of export transactions, there is no need to file for DGFT.
It is easier to obtain IE code from DGFT within 10-15 days after the submission of application. It is not required to show proof of any import or export to get IE code.
IE code is supposed to be effective for the lifetime of the entity and demands no renewal. Once it is obtained, it can be used by the entity against all import and export transactions with minimum hassles.
FACILIATES IMPORT & EXPORT
Whether you’re an importer or exporter, it is necessary have an IE code for all the transactions. Banks also require IE code to process money against the transaction..
Frequently Asked Questions (FAQs)
How Registration SEVA can help with IEC Registration?
Registrationseva can help in IEC Registration in 5 to 10 days, subject to Govt. processing time.
Information Required for Registration?
ii. Address (Registered Office in case of companies and Head office in case of others)
iv. Email address(for correspondence with DGFT)
v. Name and Designation of the person whose photograph has been affixed on the Bank Certificate
2. Details of Proprietor/Partners/ Directors/Karta/ Trustee of the applicant firm with father’ name , address and phone no.
3. Nature of Concern
4. Type of Exporter Merchant/Manufacturer
5. Bank Account Details
(i) Bank Name & Address
(ii) Type of Bank Account
(iii).Bank account Number
(v).Year of opening Bank account.
6. PAN Details (i) PAN Number with dated : ______ (ii) Issuing Authority INCOME TAX _______
7. Application Fee Details Amount(Rs)-
How to file IEC Online application?
In order to get a fresh IEC , Exporter required to visit dgft web site at http://dgft.gov.in .
IEC is not required?
1. Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
2. Import/export by government ministries and departments, and certain notified charitable organizations.
Pre-requisite for modifying the IEC ?
a)Valid PAN of an individual/company/proprietor on which IEC was issued to the party.
b) Valid e-mail id.
c)Valid Mobile No.
d) Online payment of fees of Rs 200/- (Two Hundred only)
[Please Note :The user cannot change his PAN/Mobile No/e-mail id after logging into the IEC system]