Import/Export Code

Import/Export Code (also known as IEC) is a 10-digit identification number that is issued by the DGFT (Director General of Foreign Trade), Ministry of Commerce, Government of India, and needs no filing or renewal. IEC is required by importers to clear customs and shipments and to transfer money to foreign banks. Exporters require IEC to send shipments and receive money from foreign banks. In short, no importer or exporter can operate in India without getting the IEC.

Why do I need to register for IEC?

Import/export code registration helps traders open the doors to venture into the global market, including registration with online e-commerce operators.

Businesses can avail of government schemes like the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others from Customs and Export Promotion.

The process of obtaining IEC is not tedious and can be obtained with minimal, basic documents.

What is the complete procedure for IEC registration?

To get your import and export license online, you will need to follow the following simple IEC registration procedure:

The online IEC application form in the format of import/export Form No. 2A is filed with the Directorate General of Foreign Trade. Alternatively, it could also be done offline at the regional office of DGFT.

All the required documents, including bank details and DSC, have to be submitted.

The import/export code will be allotted, and the application will be processed further.

Once the documents and application are verified by the authorities, an import/export license will be granted.

These documents are required for Import Export Code registration

Which Are Listed Below:-

PAN card of the individual or company

Copy of the entity’s government ID (Driving license, Aadhar, or voter ID)

Incorporation certificate or partnership deed

Personal or company’s current bank account statement

Address proof (Electricity bill, rent agreement, or sale deed) of the office location

A copy of cancelled check for the current account of your entity

Who can apply for the import/export code?

Any type of business registration, such as a sole proprietorship, partnership, private limited company, or charitable organization dealing with the import and export of goods, can register for the import-export code, irrespective of the size. However, IE code is not required for the import or export of goods for personal use, which is not connected with trade, manufacture, or agriculture. There is no need for a business setup.

What is the validity of the IE code?

Once registered, the Import Export Code is permanent and becomes valid for a lifetime. Hence, there is absolutely no need for renewal or update. It lasts until the business ceases to exist or the registration is surrendered. Also, the business does not have to do any monthly or annual filings like GST, etc.

Why Lawsathi Consulting?

Our professional team will execute the import-export code registration process smoothly online at the best rates. It will take about ten days. We will definitely help you get your import-export license online and easily.

Disclaimer: This article is for educational and informational purposes only. It provides a general understanding of legal remedies but does not constitute legal advice. For specific legal guidance, you can just consult the legal matter expert.