About IEC Registration
IEC (Import Export Code) registration is a mandatory requirement for businesses involved in importing or exporting goods and services in India. This registration, managed by the Directorate General of Foreign Trade (DGFT), is essential for ensuring compliance with trade regulations. It facilitates smooth international trade operations, enabling businesses to engage in cross-border transactions without legal hurdles. Without an IEC, companies may face restrictions on their ability to import or export, making it a critical step for anyone looking to participate in global markets.
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Is IE Code Required? Who Needs It?
- Indeed, IE Code is required for Indian importers and exporters.
- IEC is required for any individual or business organization that imports or exports goods and services from India.
- Owners of businesses are eligible to apply for an IE Code in their names.
Import Export Code Validity
- The entity may use the IEC for the duration of its validity without having to file for it or renew it.
- Any branches or factories that an importer or exporter owns, regardless of the situation now or in the future, are covered by the same IEC.
- Consequently, whether or not an organization needs the IE Code right now, it is advised that they acquire it.
What is IEC's Objective?
- In order to quote during the shipments of goods or services, all exporters involved in the export of goods or services from India must have an import export code registration.
- That entity can use IE Code without any further problems for any of its import or export transactions.
- You are unable to engage in the global market without the IEC.
- In order for the banks to accept payments from overseas, they also require the exporters' IE Code.
Submit an IEC Application
- To obtain the 10-digit identification code, the appropriate importer or exporter must submit an application for an IEC to the Directorate General of Foreign Trade along with the necessary supporting documentation.
- Within one to two working days of the application being submitted, the entity receives an IEC from DGFT.
IEC Application Requirements
- A duplicate of the entity's PAN card.
- Proof of Business Address.
- A director's photo and KYC.
- Owners or partners.
- A legitimate Indian mobile number of the proprietor, partners, or director.
- Entity charter documents.
- Board resolution/authorized signatory letter.
- The owner's or director's email address.
- Cancelled bank statement, cheque, or passbook.
Procedure for IEC Registration
- Visit the website of the Directorate General of Foreign Trade or DGFT.
- Navigate to services, choose IEC, and then online IEC application.
- Put in your Permanent Account Number (PAN).
- Verify that you are taken to the subsequent page wherein your PAN must be entered.
- Select the option labeled Search.
- Input information to verify your PAN.
- Following the redirect, you will be asked to fill out the following details on a page: Name as given by PAN,Incorporation/DOB,A captcha code.
- After entering all the information, click Submit.Note: An incorrect detail on the PAN-served site will prevent authentication from working.
- The PAN verification status is the next to appear.
- A notification indicating that "your PAN has been verified" will appear on the screen if the details are accurate. Press the Proceed button.
- To access a new IEC application, log in.
- Please include your email address and mobile number when submitting a new IEC application.
- After inputting the Captcha code on the right, select Generate OTP. Both your supplied mobile number and email address receive an OTP.
- After inputting the OTP, select Submit. Click Regenerate OTP if you haven't received an OTP.
- After entering the OTP, a 20-digit E-commerce number will appear. You need to provide the entity name, address, urban area, PIN, state, district codes, email, mobile number, PAN details, type of concern, desired duties, and bank account information.
- Click Update and Save once you have entered all the necessary information in the designated space.
- This will direct the applicant to a new page where they must enter the firm's bank details. The required information includes the SI Branch number, the branch's address along with the district, state, and city, and a six-digit PIN code.
- When you click the Add Button, make sure you are taken to a new page where you can update the Director, Proprietor, Partner, Karta, or Managing Trustee details.
- Update the information for your director, proprietor, partner, karta, or managing trustee by providing their SI number, Director Identity Number (DIN), name, PAN, birthdate, address, cell phone number, Aadhaar Card Number, and any other requested details.
- Click ADD to upload documents such as a bank certificate, a cancelled check, and proof of address. Note: After selecting the Upload File option, the document must be uploaded in either the GIF or PDF formats. The document can't be more than 5 MB in size.
- The payment and verification of fees.
- Examine all the information entered into the application. Click Print Application once you've checked it over carefully and determ
- Ined it to be correct.
- To submit the application in its final form—with or without a digital signature—click Submit.
IEC Registration Fee Levied by the Government
- A registration fee of Rs. 500 points is levied by the government for import export codes and it must be paid through electronic fund transfers (EFTs) when submitting the IEC application online.
- Following a successful submission, the applicant's address receives a self-addressed envelope containing an IEC allotment letter with a 10-digit code.
- You are able to begin your importing and exporting operations once you have an IEC code.
FAQ's
Businesses and individuals must have the unique 10-digit IEC code in order to import or export goods and services from India.
An IEC is required for any company or individual doing import or export business in India.
The website of the Directorate General of Foreign Trade (DGFT) allows you to submit an online application for an IEC.
IEC is not subject to renewal and is good for the duration of the entity.
It is necessary to provide proof of address a bank certificate a PAN card and a passport-sized photo.