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- Get Import Export Code (IEC) registration to start your import/export business in 1 day.
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IEC Registration Process
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What is Import Export Code ?
The Import Export Code (IEC) is a 10-digit alphanumeric code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is a unique identification number required for individuals or businesses engaged in importing or exporting goods and services from India.
The primary purpose of the Import Export Code is to facilitate international trade and monitor the movement of goods across borders. It is mandatory for any person or entity involved in importing or exporting goods to obtain an IEC from the DGFT.
To obtain an IEC, applicants need to submit the necessary documents, such as identity proof, address proof, and bank details, along with the application form to the DGFT. Once issued, the IEC does not have any expiry date and can be used for all import-export transactions unless it is cancelled or surrendered.
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Documents Required for IEC Registration
- Two Colour Photographs of Promoters/Individuals/ Company/ Director
- PAN Card of each Shareholders and directors
- Identity Proof (Voter ID / Driving License/ Passport)
- Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
- Proof of Registered Office
- Utility Bill as proof must be Latest
Import Export Code Benefits
Global Markets at Fingertips: Unless the entity holds IEC, it is not allowed to import or export goods/services into the foreign market. It is a key to enter the international market and widening the scope of business. With IEC, one can take their products or services to the global market and expand business with ease.
Simple Processing: The complete process of applying for importer exporter code is simple and hassle-free with the online Import-Export license application. It merely takes 3-4 working days for obtaining the importer exporter code. The applicant can immediately download the e-IEC through the link provided in the mail after uploading documents and payment of the fee.
Compliance-free: Once the import-export code is obtained, there is no adaptational formalities. Unlike other tax registrations, the IE code holder also does not need to comply with any kind of annual filing or return filing. Also, the code is valid for a lifetime so there is no need for renewal.
Government benefits: The importers and exporters are eligible to benefit from many Government schemes. The entities are eligible for the schemes under DGFT on their import/export. They can avail the subsidies from Customs and Export Promotion Council or similar government organizations.
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Frequently Asked Questions
IEC (Import Export Code) is mandatory for anyone who is looking to start his/her import/export business in India. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code which has lifetime validity.
All IEC holders are now legally required to update and validate their IEC Details, even if there are no changes, from April to June once every year through Online system, failing which their IEC shall be de-activated and no import or export activity will be possible.
In addition to registering your IEC, it is crucial to periodically revise and amend all pertinent business information. Neglecting to update these modifications as an importer or exporter can result in inconsistencies during customs inspections. Ensuring that changes such as PAN updates, director alterations, and the inclusion or removal of partners are promptly updated will streamline the export procedure.
An Import Export Code (IEC) is not mandatory, unless the service provider seeks to avail benefits under the Foreign Trade Policy.
