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Import Export Code
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Importer Exporter Code (IEC Code) Registration Online
An Importer Exporter Code (IEC) is a crucial business identification number mandatory for both exporting from and importing to India. Without a valid IEC, no person can engage in export or import activities, unless specifically exempted. For services exports, an IEC is not required, except when the service provider intends to avail benefits under the Foreign Trade Policy. With the introduction of GST, the IEC issued is now identical to the PAN of the firm. However, the IEC will still be separately issued by DGFT upon application. This article provides a detailed overview of the procedure for obtaining an IE Code.
Import Export Code (IE Code)
The Import & Export Code, commonly referred to as the IEC number, is a ten-digit unique identifier that business entities must obtain for engaging in import and export activities in India. This code is issued by the Directorate General of Foreign Trade (DGFT). The IEC registration certificate is a mandatory requirement for businesses involved in import and export operations. Therefore, prior to commencing the import of goods into India, it is essential for importers to ensure that their entity possesses both GST registration and an IE code. These two prerequisites are necessary for the seamless clearance of goods through customs. Failure to have both the IE code and GST Registration can result in goods being held at the port, incurring demurrage charges, or even facing potential destruction.
Importance of Import Export Code
Businesses have a significant opportunity to expand into the international market through the import and export of their products and services. The Import Export Code (IEC) is a vital requirement when venturing into the global market, as it plays a pivotal role in fostering the growth and development of the business. Several advantages come with obtaining an IEC, and we have outlined a few of them below:
- International Market Access: The IE Code, being a prerequisite for import and export activities, facilitates the global reach of products. It streamlines the entry of Indian companies into international markets, paving the way for growth and expansion.
- Online Registration: Obtaining an IE Code involves a straightforward and hassle-free online process with minimal document submission requirements.
- Less document requirement: It is not required to submit many documents to obtain an IEC.
- Lifetime Validity: The IE Code boasts lifetime registration, remaining valid for the entire duration of the business's existence. Therefore, there is no need for periodic updates, renewals, or re-registration. The IE registration retains its validity as long as the company continues to operate and has not been revoked or voluntarily surrendered.
- Reduces illegal goods transportation: An Import-Export code necessitates the submission of genuine and accurate information. Without the provision of correct details, acquiring an IE code becomes unattainable. This fundamental requirement effectively prevents the transportation of illegal goods.
- Compliances: Unlike other tax registration, the person carrying import or export does not require to fulfill any specific compliance requirements such as the annual filing or the return filings.
Validity of IE Code
As previously mentioned, IE Code registration offers a permanent and lifelong validity, eliminating the need for periodic updates, filing, or renewal processes. It remains in force as long as the business is operational and the registration remains unaltered or un-surrendered. In contrast to tax registrations like GST or PF, importers and exporters are not burdened with filing obligations or other compliance requirements, such as annual submissions. Since IE code registration is a one-time procedure with no ongoing compliance, it is strongly advisable for all exporters and importers to acquire an IE code following their business incorporation.
Nature of the Firm obtaining an IEC
The nature of the Firm obtaining an IEC may be any of the follows:
- Proprietorship Firm
- Partnership Firm
- Limited Liability Partnership
- Limited Company
- Trust
- Hindu Undivided Family (HUF)
- Society
Pre-Requisites for Applying for IEC
- Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal)
- IEC may be applied on behalf of a firm which may be a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, and Society.
- The Firm must have an active Firm’s Permanent Account Number (PAN) and details like Name as per Pan, Date of Birth, or Incorporation.
- The Firm must also have a bank account in the Name of the Firm and a valid address before applying.
Note: These details will be validated with the Income Tax Department site.
Documents required for IEC Code registration
The list of scanned documents required for IEC Registration is listed as follows:
Proof of establishment/incorporation/registration: The following type of Firm needs to submit the establishment/incorporation/registration certificate:
- Partnership
- Registered Society
- Trust
- HUF
- Other
Proof of Address: Proof of Address can be any one of the following documents:
- Sale Deed
- Rent agreement
- Lease deed
- Electricity bill
- Telephone landline bill
- Mobile, post-paid bill
- MoU
- Partnership deed
- Other acceptable documents (for proprietorship only):
- Aadhar card
- Passport
- Voter id
Note: If the address proof is not in the name of the applicant firm, it is necessary to provide a No Objection Certificate (NOC) from the premises owner in favor of the firm. This NOC, along with the address proof, should be submitted as a single PDF document.
- Proof of Firm’s Bank Account
- Canceled Cheque
- Bank Certificate
- User should have an active DSC or Aadhaar of the Firm’s member for submission.
- Active Firm’s Bank accounts for entering its details in the Application and making online payment of the application fee.
Procedure to submit IE Code Application
The procedure to get the Importer Exporter Code Certificate is explained in detail below:
Step1: Visit the official DGFT website. Click on the ‘Services’ tab on the homepage and Select the ‘IEC Profile Management’ option from the drop-down list.
Step2: A new page will open. Click on the ‘Apply for IEC’ option on the Page.
Step3: Click on the ‘Register’ option. Enter the required details and click on the ‘Sent OTP’ button.
Step4: Enter the OTP and click on the ‘Register’ button.
Step5: Upon successfully validating the OTP, the User will receive a notification containing the temporary password, which can change after logging into the DGFT website.
Step6: After registering on the DGFT website, log in to the website by entering the user name and password.
Step7: Post login, click on “Apply for IEC” on the Dashboard. Click on the “Start Fresh Application” button or the “Proceed with Existing Application” button if the User has already saved a draft application.
Step8: Fill out the application form (ANF 2A format), and Enter the details in the General Information Section:
- Select nature of Concern/Firm
- Enter Firm Name
- PAN Details
- Select Preferred Activities
- Enter corporate entity number (CIN)
- Enter GSTIN Number of Concern/Firm
- Enter Firm Mobile Number
- Firm Mail ID
- Enter firm address
- Attach address proof of the Firm
- Enter the details in the “Details of Proprietor/Partner/Director/Karta/Managing Trustee” Section
- Enter the details in the “Bank Account Details” Section
- Enter the details in the “Other Details (Exports Sectors preferred)” Section
Step9: Under the declaration, accept the terms and conditions by clicking on the check box
Step10: Check the Application Summary and click on the Sign button to sign the Application using a digital signature certificate or Aadhaar. Note: These details will be verified in real-time from the CBDT database.
Step11: Confirm and proceed to make the payment against the Application.
Step12: After Successful Payment, the Page shall be redirected to the DGFT Website, and the receipt shall be displayed; the User can also download the ticket.
Get Importer Exporter Code Certificate
The Importer Exporter Code (IEC) is a fundamental document required for initiating import and export operations. It serves as a primary requirement for trading goods and services internationally. The IE Code offers a range of advantages for business growth and expansion. Its significance cannot be overlooked, as it is a mandatory requirement. To obtain an IE Code, you can apply through bmcsindia, and the process typically results in obtaining the code within 6 to 7 days.
Frequently Asked Questions
BMCS India offers comprehensive business consultancy services, including strategy development, market research and analysis, financial advisory, operational optimization, and organizational transformation. We provide customized solutions to help businesses address challenges and achieve their growth objectives.
BMCS is the top most business management consultant all around the world. Our team of experienced consultants leverages industry knowledge, market insights, and proven methodologies to provide tailored solutions that align with your business goals. Whether you need assistance with market entry, strategic planning, process optimization, or talent management, we collaborate closely with you to understand your unique needs
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Absolutely! We work with businesses of all sizes, ranging from startups and small enterprises to multinational corporations. Our services are flexible and customizable to meet your specific needs, ensuring that you receive the level of support required to achieve your business objectives, irrespective of your company's size.
At BMCS India, we understand the importance of client confidentiality. We adhere to strict data protection protocols and maintain the highest level of confidentiality. Our consultants sign non-disclosure agreements, and we have robust internal systems in place to safeguard client information. Rest assured, your sensitive data is handled with the utmost care and confidentiality.
Yes, we can help your business expand internationally. Our team has experience and expertise in supporting companies with market entry strategies, feasibility studies, partner identification, and localization strategies in various global markets. We leverage our network of international partners to provide you with valuable insights and guidance throughout the expansion process.
To get started with BMCS India, simply reach out to us through our contact information on our website. We will be glad to schedule an initial consultation to understand your business requirements and discuss how our services can benefit you. From there, we will work together to develop a tailored plan to drive your business success.