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Read MoreWhat is Import Export Code
The Import Export Code (IEC) is a crucial ten-digit alphanumeric code assigned to businesses engaged in importing or exporting goods and services. Without an IEC, no business can undertake importing or exporting activities. This code is issued by the regional office of the Director General of Foreign Trade (DGFT) and serves as a unique identifier for import and export businesses, recognized by tax authorities like Customs and DGFT officers across India. Additionally, the Import Export Code is vital for regulating import and export activities, ensuring the financial health of the Indian economy.
Benefits of Import Export Code Registration
Obtaining the Import Export Code registration is essential for businesses involved in foreign trade. The Indian government has mandated IEC registration to provide various benefits aimed at supporting the growth and prosperity of import-export businesses. Here are some key benefits of IEC registration:
Access to government benefits such as export and import subsidies, low customs duties, etc.
Opportunities to explore a global consumer base in international markets.
Legitimacy in foreign trade dealings.
Lifetime validity with no need for renewal.
A straightforward and 100% online PAN-based application process.
How to Apply for Import Export Code?
The process for registering for an IEC is simple and fully online. Here’s a step-by-step guide:
Documentation :Before initiating the IEC code registration, ensure you have all required documents ready. Submitting incomplete or incorrect documents may lead to application rejection, necessitating a fresh application. Here’s a list of necessary documents categorized by entity type.
Visit the DGFT Website :To start the IEC registration, visit the official DGFT website. Click on the “Services” tab, then select the “IEC Profile Management” option from the dropdown menu, leading you to the registration page.
Register Yourself on the DGFT Website :On the registration page, click on the “Apply for IEC” option and proceed to register. Fill out the registration form with basic details like name, nature of business, contact number, email, and address.
Conduct OTP-Based Validation :After filling in the details, generate an OTP for validation. The OTP will be sent to the email and mobile number provided. After successful validation, a temporary password will be created for you to log in and complete the application.
Login and Fill Out the Application Form :Using the temporary password, log in to the DGFT website, fill out the application, attach the necessary documents, and pay the application fees. Once completed, click “submit” and wait for your application to be processed.
Issuance of IEC Code and Registration Certificate :Upon successful processing of your application, the DGFT will issue an Import Export Code along with a registration certificate. This serves as proof of your IEC registration, allowing you to engage in legitimate foreign trade activities.
Documents Required for Import Export Code Registration
Documentation is critical for the IEC registration process. The required documents vary based on the entity type applying for the IEC. Here’s a detailed list:
For Individuals:
PAN card
Current/Savings bank account with a foreign exchange-dealing bank
Address proof (Sales deed/Rent Agreement/latest utility bill)
RBI clearance letter (for NRIs)
Passport-sized colored photograph
For Proprietorship :
PAN card of the proprietor
ID proof (Voter ID/Driving License/Aadhaar Card/Passport)
Address proof (Sales deed/Rent Agreement/latest utility bill)
Cancelled cheque
Passport-sized colored photograph
For Partnership Firms :
PAN card of the firm
ID proof of the managing partner
Address proof (Sales deed/Rent Agreement/latest utility bill)
Cancelled cheque
Passport-sized colored photograph
Partnership deed
For LLP/Company :
PAN card of the LLP/Company
ID proof of the managing partner/signatory director
Address proof (Sales deed/Rent Agreement/latest utility bill)
Cancelled cheque
Passport-sized colored photograph
Certificate of Incorporation, MoA & AoA / LLP Deed
For Trust/Society :
PAN card of the Trust
ID proof of the managing trustee/chief executive/secretary
Address proof (Sales deed/Rent Agreement/latest utility bill)
Cancelled cheque
Passport-sized colored photograph
Registration Certificate of Society / Trust deed
For HUF :
PAN card of the Karta
ID proof of the Karta
Address proof (Sales deed/Rent Agreement/latest utility bill)
Cancelled cheque
Passport-sized colored photograph
Registration Certificate of Society / Trust deed
