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IEC Registration

IEC Registration is a compulsory requirement for carrying out a business of import and export of goods or services. IEC code is mainly a 10-digit number issued by the DGFT (Director- General of Foreign Trade). IEC Registration helps the business become a brand by unlocking the international market and getting new business opportunities.

Package inclusions:
  • IEC Registration category Consultation.
  • Document Preparation for Import Export Code Registration.
  • Application Drafting for Import Export Code.
  • Application Filing for IEC Registration.
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IEC Registration Services

With rising competition in the market, everyone wants to expand their business in the global platform. However, doing business globally is not that easy for everyone. Before going global, one need to follows several procedures and fulfils the legal requirements to get different registrations and licenses. IEC Registration or Import Export Code Registration license is one such prerequisite for importing and exporting from India.

IEC Registration is needed by anyone who wants to start his/her import or export business in the country. The Director-General of Foreign Trade (DGFT) issues the IEC Registration.IEC is a ten-digit code having validity of lifetime. It is noteworthy that the importers' merchant cannot benefit from the DGFT for the export scheme, etc., without the IEC Registration.

IEC is needed in the following situations:

  • When an importer needs to clear his shipments from the customs, then it is needed by the customs authorities.
  • Whenever the importer transfers money abroad via banks, then it is needed by the bank.
  • When the exporter wants to send his shipments, then it is needed at the customs port.
  • When the exporter receives money in foreign currency directly into his bank account, then it must be provided in the bank.

What is an Import Export Code?

Import-Export Code or IEC is a ten-digit code needed by an individual or a business to import or export goods or services. This code is allotted by the Director-General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.

The validity period prescribed for the IEC code is for a lifetime of the individual. According to this, there is no need for the individual or business holding IEC Certification to apply for its renewal. Hence, the company having IEC is eligible to perform all the requirements with regard to the import and export-related issues.

Generally, the time needed for issuing an IEC Registration is 12-15 working days. IEC code is issued once all the required documents are submitted, and corrections are made. Further, IEC certification is a mandatory requirement for every commercial importer or exporter in India. Hence, the business not having IEC does not qualify to undertake the category of import and export.

What are the Benefits of the IEC Registration?

The benefits of IEC Registration are enumerated below:

Benefits of the IEC Certification

 

 

  • Expansion of Business

By getting IEC registration, an individual can expand its business efficiently and smoothly in the global market. Also, an IEC assists businesses in creating a name for itself in the international market.

  • Availing Several Benefits

Based on IEC Registration, businesses these days enjoy and avail benefits provided by the EPC (Export Promotion Council), DGFT, and customs.

  •  No Need to File Return

There is no need to file return in IEC. Hence, after the IEC code is allocated, there is no requirement of abiding by any procedure for proving its legitimacy. For the purpose of any event that is related to the export transactions, DGFT does not require the filing of any return.

  • Hassel-Free Processing

The process of getting IEC registration from the DGFT is very simple and easy. The process can be completed within a time span of 10-15 working days from presenting the application. Further, no evidence is required relating to the export or import after obtaining the IEC code.

  • Lifetime Validity

After obtaining the IEC registration, a person can enjoy its validity until perpetuity because it is free for a lifetime. There is no requirement to apply for any renewal.

  • Authorization from Government

IEC Registration acts as a Government identity that is issued by the Director-General of Foreign Trade. Hence, while clearing the shipment, a person can show the received certification number to the customs authorities.

When is IEC Registration Required?

IEC Registration is required in the following circumstances:

  • When an importer wishes to clear his shipments from the customs authorities department, this code must be provided to the customs authorities.
  • Whenever the importer sends money abroad through banks, then the banks require this IEC Registration code.
  • If the exporter needs to send his shipments abroad, this code must be provided at the customs port.
  • When the exporter receives money in the form of foreign currency directly credited into his bank account, this code must be provided at the bank.
  • For the purpose of obtaining Food Licensing and APEDA Licensing, having an IEC Registration is a must.
  • Whenever the exporter wants to gain some export subsidy, then this code is required by the export promotion council.

When is IEC Registration not required?

IEC registration is not needed in the following circumstances:

  • The goods that are not related to trade and manufacturing, i.e., import and export of products and services for personal use.
  • If the Government Ministries and Departments make the import and export of goods and services.

What are the Features of the Import-Export Certification?

The features of the IEC Registration are explained below:

  • Businesses cannot indulge in the activities concerning Import or Export without obtaining the IEC Certification.
  • The IEC Certification works as evidence for any firm that is involved in the import or export of products or goods.
  • Once an individual obtains IEC, then the same will remain valid for a lifetime. Hence, this code does not require any renewal.
  • IEC Certification is not needed for the goods or services that are imported or exported for personal or legislative purposes.
  • An IEC certification is mandatory for making transfers in foreign banks.
  • It is acceptable for all parts of importers or exporters business.

What are the Documents Required for obtaining IEC Registration?

Documents Required by Sole Proprietorship Firm

The documents required a Sole Proprietorship Firm for getting IEC Registration are as follows:

  • Photograph of the proprietor.
  • PAN Card copy of the proprietor.
  • Proprietor’s Passport, Voter ID, Driving License, UID copy.
  • If the business is self-owned, a copy of the sale deed.
  • In the case of rented business, a copy of the Rent Agreement or Lease Deed.

Partnership Firm

A Partnership Firm needs the following documents for obtaining IEC Registration:

  • Managing partner’s Digital photograph.
  • Partnership Deed copy.
  • Managing Partner’s PAN Card copy.
  • A copy of Passport and Voter ID, Driving License, UID of the MD (Managing Partner) signing the document.
  • If the business is self-owned a copy of sale deed.
  • If in case the business is rented, rent Agreement or lease Deed.
  • Bank Certificate as per ANF 2A or a Cancelled cheque having the account number and the blueprinted name of the applicant’s business.

Limited Liability Partnership

A Limited Liability Partnership requires the following listed documents for obtaining IEC Registration:

  • Digital photograph of the Company’s Director or LLP’s Designated Partner who is signing the application.
  • Applicant’s PAN Card copy.
  • Managing Partner’s Passport, Voter ID, Driving License, and UID of the Managing Director.
  • A copy of sale deed, if the business is self-owned.
  • Rent Agreement or Lease Deed copy, if the business is rented.
  • Bank Certificate as per ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant business.

Trust

The documents submitted by a Trust for obtaining IEC Registration are as follows:

  • Digital photograph of the Managing Trustee or Chief Executive or the signatory applicant.
  • A copy of the Trust Deed.
  • Certificate of Registration of society.
  • A copy of sale deed, if in case the business is self-owned.
  • A copy of Passport, Voter ID, Driving License, PAN card, UID of the Managing Trustee, or Chief Executive or the signatory applicant signing the document.
  • Bank Certificate as per ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant entity.
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.

Hindu Undivided Family

The following listed documents are required by a Hindu Undivided Family (HUF) for obtaining IEC Registration:

  • Digital photograph of the Karta.
  • A copy of Passport, Voter ID, Driving License, UID of the Karta.
  • A copy of Karta’s PAN Card.
  • A copy of sale deed, if in case the business is self-owned.
  • Bank Certificate as per ANF 2A or a Cancelled cheque bearing the account number and the blueprinted name of the applicant entity.
  • A copy of Rent Agreement or Lease Deed, if in case the business is rented.

What is the process to get IEC Registration?

The processes to get IEC Registration are as follows:

  • Visit the Online Website for IEC registration.
  • On the same page, click on "Apply for New Import Export Code (IEC)/Modify existing IEC."
  • Specify the login PAN card details. The details entered must be accurate.
  • As per the CBDT, the PAN card number will be verified.
  • After the verification is done, specify your mobile number and e-mail address, the e-mail address, and the mobile number is given there cannot be changed since it will be useful for the login purpose. Complete the process of entering CAPTCHA.
  • An OTP is sent to the registered contact number and e-mail address.
  • After the verification of the given details enters the business details or partnership or proprietorship or any other firm.
  • Mention the details of the applicants in the section given below.
  • In the case of the director, the director's DIN must be mentioned.
  • In the case of the company, the CIN of the company must be provided.
  • If the company has any branch, mention the branch details.
  • The required documents must be submitted as per the firm.
  • Make the requisite payment and then submit.
  • After submission, the applicant will get the IEC code within a few minutes.

Latest Update on IEC Registration

For the IEC Code issuance, the Ministry of Commerce and Industry, along with DGFT, decided to launch a digital platform for the publication of IEC code. The first online phase wen lives on 13th July 2020. Furthermore, the other remaining phases of this platform are as following:

  • Advance Authorisation;
  • EPCG (Export Promotion of Capital Goods); and
  • Export Obligation Discharge.

Through this platform, the process of IEC Applications and Modification had been suspended with effect from 13.07.2020. 

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Frequently Asked Questions

A person or business can apply for IEC Code by referring to the DGFT, either online or through offline. The IEC code remains valid for all the branches of the organization. Only an IEC is provided against one PAN number.

The IEC International Standards permits the companies and governments and the test labs to verify that a particular product or system conforms to the requirements explained in a Standard. The IEC offers a standardized approach to testing and certification.

An individual or a company that wants to conduct international business can get an IEC. To apply for IEC, individuals can either use the name of their company or their name directly.

The IEC is issued by the Directorate General of Foreign Trade or DGFT. It is issued in electronic form. The DGFT is under the Ministry of Commerce, Government of India.

An IEC allotted to an applicant has got a permanent validity.

For applying IEC, you can find the forms in:

• Go to www.dgft.gov.in/

• Move to Quick links and then select Apply for New IEC or Modify the existing IEC.

• Enter the PAN No. and then press the search button.

• The system will take you to the following menu (a) Name of Company (b) Date of Birth or Incorporatio (DOB/DOI).

• The system will then verify all your details from the CBDT PAN Web Server, and then it will redirect you to the DGFT- IEC application enabling you to file a new IEC application.

The applicant must submit an online application with the following details or documents (scanned copies that must be submitted or uploaded) together with the IEC application:

• Canceled cheque mentioning the entity’s pre-printed name or Bank certificate as per the prescribed format ANF- 2A(I).

• Applicant’s Address proof, as explained in the application.

 

 

 

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