Elevate Import-Export Ventures: Obtain IEC Code with Professional Expertise
Effortless IEC Code Registration for seamless import-export compliance. Simplify global trade operations with expert services
* Excluding Govt. Fees
Meaning
The Import Export Code (IEC) is essential for individuals or entities engaged in the import and export of goods. Previously, it was a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) in India. However, under the GST regime, a person or entity’s Permanent Account Number (PAN) serves as their IEC. Despite this, a separate application must still be filed with Directorate General of Foreign Trade to obtain the IEC.
To acquire an IEC, applicants must submit an online application to the relevant department along with the prescribed government fee. Upon successful submission, a certificate is issued. It is important to note that the department retains the right to cancel the certificate if discrepancies or errors are found in the application or certificate details.
Key Points
- The code is unique to each business or individual and is valid for lifetime, however, annual renewal of record on or before 30th June is mandatory, else the same shall stand cancelled.
- It is a mandatory legal requirement to obtain an IEC code before engaging in any import/export activities in India.
- The code is issued based on the PAN (Permanent Account Number) of the business or individual.
- The application requires certain documents to be submitted, such as PAN card, proof of address, bank certificate, and photograph.
- Failure to obtain an IEC code can result in penalties or legal action.
Documents Required
|
S. No. |
Proprietor |
Partnership Firm/ LLP/ Company |
|
1 |
Self Attested PAN and Aadhar Card |
Self Attested PAN and Aadhar Card of the Authorized person |
|
2 |
Mobile Number |
Mobile Number |
|
3 |
Photo of the authorized person |
Photo of the authorized person |
|
4 |
Copy of cancelled cheque/ bank certificate |
Copy of cancelled cheque/ bank certificate |
|
5 |
GSTIN |
GSTIN |
|
6 |
Email ID |
Email ID |
|
7 |
Proof of address along with Latest Utility Bill i.e. Electricity Bill, Water Bill etc. |
Proof of address of premise along with Latest Utility Bill i.e. Electricity Bill, Water Bill etc. |
|
8 |
NA |
Self Attested PAN of Entity |
|
9 |
NA |
Certificate of Incorporation |
What is included in this
FAQs
IE Code or Import Export Code is a Certificate issued by the DGFT to the person/ entity engaged in the business of Import and Export.
An individual or business corporation intending to enter into the business of Import or Export of Goods are required to have IEC Certificate.
No, it is mandatory to have Import Export Code while entering into the business of Import or Export of Goods.
No, there is no such minimum criteria requirement.
No, having multiple IEC for the same PAN is a punishable offence.
Once Import Export Code is allotted, it is valid for the life time unless surrendered or revoked, However, Annual update of record is required in case of IEC Code on or before 30th June.
No, Even an individual can also have IEC Code.
- IEC is a mandatory requirement for businesses engaged in import and export activities. It enables them to participate in international trade and engage in cross-border transactions with ease.
- Unlike other registration processes, IEC holders are not required to file any returns with DGFT. Once obtained, there are no compliance burdens associated with the IEC.
iii. Many benefits and exemptions provided by the government, such as export promotions, customs duty benefits, and certain subsidies, are available only to businesses with a valid IEC.
- Having an IEC allows businesses to explore new markets and expand their reach globally. It opens up opportunities to access a wide range of international products and customers.
- Customs authorities require IEC while clearing shipments at ports. Having an IEC simplifies the documentation process and reduces delays in importing or exporting goods.
- Obtaining an IEC can enhance the credibility and reputation of a business in the international market. It signifies that the business is authorized and compliant with Indian trade regulations.
vii. The process of obtaining an IEC is now online, making it relatively easy and efficient. This helps businesses save time and effort in acquiring the code.
viii. Once obtained, an IEC is valid for the lifetime of the entity or individual. There is no need for periodic renewal or reapplication.
Bank Details will be validated through PFMS and result will be made available the next day.
-User will be issued the IEC Immediately. And the Risk shall be marked in RMS.
-On Successful Validation- RMS Flag shall be removed.
-On Failure – RMS Flag will retain for RA to verify the supporting document uploaded by the user.
