Import Export Code helps you to take your business to the international market. Not only that, it will increase your revenue as well as growth.
The Niryat Bandhu scheme of DGFT’s Main Objective is to Help Entrepreneurs, Exporters, Importers, and students of this Subject to help learn and provide certification in Export & Import Management.
IEC helps you to get rid of any illegal transportation or fraudulent imports and exports. IEC registration is a centralized registration that helps the officials to supervise and manage the transaction in a better manner which is undertaken as a part of cross border business.
IEC Code offers great benefits for the Import-Export business. An IEC registered business entity would be qualified to avail benefits or subsidies declared by the Customs, Export Promotion Council and other several authorities.
After filing a Letter of Undertaking under GST, the exporters are not required to pay taxes to make exports. If the exports are made by payment of taxes, the exporter can claim refunds of the paid tax amount.
Companies that register for the Import Export Code could make the most of several other benefits offered by customs, the Export Promotion Council, and the Director-General of Foreign Trade
A business can expand using online marketplaces like Amazon.com, Alibaba, etc. This code is necessary to take advantage of growth opportunities via export/import.
There is no need to renew this code again and again. The validity expires with the company. That is, the code is valid until the life of the company.
There is no compliance requirement for IEC. There is no need to file periodical returns.
IEC or Import Export Code is a 10 Digit Code that an entity or a person requires to export/import the goods/services. The authority of issuance of this code is granted to the DGFT (Director General of Foreign Trade), Ministry of Commerce and Industries, Government of India.The code is valid for a lifetime and there is no need to renew it again and again. Generation of code takes 5 working days, once the documents are submitted and the necessary corrections are made.
IEC code can be called many names, like importer exporter code, import-export code, import-export license, import-export number, IE code, IE license, etc. An applicant can either issue this code under his name or the company’s name. After it is issued, it is valid for all your company’s branches/divisions/units/factories.
Different documents are required by different entities to get IEC code and these are given below.
|Type of Company||Documents Required|
|LLP or Private Limited Company or Section 8 Company||
|Society or Trust||
STEP 1: Visit the online portal of DGFT. Click on the ‘Apply for IEC’ tab
STEP 2: You will be prompted to an online form where you will need to fill up your details (Name, mobile number, email ID, etc). An OTP will be sent to your mobile number. Enter the OTP in the space provided and click the ‘Submit’ button.
STEP 3: On the resulting page, you will need to submit details related to your business such as establishment date, PAN, account details, etc. After completing, click ‘Submit’ to proceed
STEP 4:In this step, you will need to pay the requisite IEC application fee. You can make the payment through an electronic fund transfer
STEP 5:After successful payment, you will need to upload the digital copies of the documents required
STEP 6:In this step, you will be asked to submit the completed IEC application form. On successful submission, an Ecom Reference Number will appear on the screen
STEP 7:Take a print of the completed IEC application form. You need to submit it to the DGFT office having jurisdiction in your area
STEP 1:On successful verification of your credentials, your IEC will be issued within 3 to 7 days.
SarkariKagaz will smoothly execute the import-export license online registration process for you. Our dedicated representatives will file the IEC application on your behalf. Post the submission; we would be doing the necessary coordination with the DGFT for expediting your application. We will ensure you receive your import-export license in just a few days.