IEC is known as many names such as importer exporter code, import export code, import export license, import export number, IE code, IEC license, IE license etc. In simple terms, IEC is a 10 digit code which is provided by DGFT required for import export transactions. You can take IE code in your personal name or company name.
An IEC number issued to applicant shall be valid for all its divisions/ units/ factories/ branches. IEC is valid for lifetime and there is no need to renew the same.
IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
Benefits of Import Export Code
Do Export Import Business
The first requirement before you start an import/ export business in India is to obtain an IEC. An IEC is necessary for import/export of goods. In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in 'specified services' or 'specified technologies', i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc.
Avail Export Incentice
The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, SEIS Scheme, Customs, etc., on the basis of their IEC registration.
Documents requirement for Import Export Code
Passport Size Photograph (Soft Copy) of applicant (Proprietor/Director/Partner)
Identity proof of applicant (Proprietor/Director/Partner) (Passport, Driving License, Aadhaar card, Voters id )
Cancelled Cheque for Support of Bank Details
PAN card of Company/Firm/LLP/Proprietor...
AOA and MOA (In case of company)
Business Address Proof (Utility Bill/Lease Agreement/sales Deed if owned property)
Certificate of incorporation (In case of company)
Certificate of Registration (In case of Trust/Society)
Partnership Deed (In case of Firm)
e-IEC PAN based registration only
Amendment of e-IEC
Any changes in particular mentioned on Certificate other than PAN
Migration of old IEC into e-IEC
Migration into e-IEC PAN based. with/without amendment in details
Cancellation of Registration
cancellation of IEC
above fees inclusive of Govt Fees and maximum 2 branch offices. Rs 500 extra for additional branch office/Units.
Our service package inclusion for Import Export Code Registration
Our DGFT Expert give on call consultation to client first to make him clear about the process of registration with authority and Documents requirement.
Our DGFT Expert prepare your application and co-ordinate with you for all the IEC documents.
As soon as your documents reach to us and your application is processed properly, our DGFT expert then file your IEC application online.
On Successful Submission 'Ecom Ref. No' generates and that deliver to client to check status online.
We Intimate you updated Status regularly
System Generated Registration Certificate issued on same day of Filing the Application. Final Certificate get within 7 days from Department on Email
Import Export Code Registration Process
Create an Online IEC application
=> Visit dgft web site at http://dgft.gov.in
=> Click on “IEC Online Application” option.
=> You will be prompted to enter a valid PAN
=> SUBMIT for next step
Add IEC Master details (Application Form)
NOW, NEXT STEP TO CREATE APPLICATION
=> Select “Create” option from the “File” menu. System will
generate and display new “ECOM Reference No.” .
=> On clicking the “OK” button the user is forwarded to the “IEC Master” Screen for feeding Details. Feed the details there Spet by step with ADD Button Options.
=> Add branch details / Directors Details and Choose Regional Authority of DGFT of your business location.
Payment of Fee (online)
Once Application filed up next step to Pay the fee online
After Payment next step upload documents one by one.
Submit to Regional Authority
Once the application is complete in all respect, then Select Regional Authority (DGFT) and Submit the application.
Important Features of Import Export Code
EXPORT SCHEME BENEFIT - All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports.
NO RETURN FILING - IEC code holder does not require filing of any returns.
LIFE TIME VALID - IEC Code is issued for lifetime and requires no renewal
INDIVIDUAL CAN OBTAIN - Even individuals who are proprietors can obtain the code in their name. It is not necessary to setup a business for the same.
SINGLE CODE - The IEC issued is valid for all the branches or factories of the importer/exporter.
In which cases Import Export Code is Mandatory?
When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
When an importer sends money abroad through banks then it’s needed by the bank.
When an exporter has to send his shipments then its needed by the customs port.
When an exporter receives money in foreign currency directly into his bank account then its required by the bank.
Why do you need FinTax Corporate Professional's service ?
It is important your Application is filed correctly and properly as per legal requirement. Our Experts are well experienced in this line to get your work done smoothly.
Who must obtain Import Export Code?
Any person who intends to import or export goods and services from or to India must obtain Import export Code.
Where to file application to get Import Export Code?
For Import Export Code, Application to be filed Online with Regional Authority of DGFT of your business location
How long does it take to obtain Import Export Code?
After submission of all required documents and application, It takes 10-15 days.
Is there any monthly returns required to be filed with DGFT?
Import Export Code is just a license allowing the import and export of goods. Therefore, no return is required to be filed with DGFT or with any other authority for that.
What is the validity of Import Export Code?
Import Export Code valid for life time.
Do I need Separate Import Export Code for each Branch office and Factory?
No. One Import Export Code is valid for all division.
Do I need to physically present at DGFT office to obtain Import Export Code?
No. Process is online and IEC issued and send on registered Email id and physically despatch at your business address.
What is the procedure for depositing fee for the online IEC application?
Application Fee to be deposited through online.
How can I modify my IEC application?
An application can be modified any number of times till it is submitted for processing. You need to login with same details
like PAN, mobile and email again.
What are precaution to be taken before an application is submitted?
Under the new provision an application can be either approved or rejected. It is advised that:
1. Applicant ensures that all details are correct and match with documents.
2. DGFT, Regional Authority is selected as per it's jurisdiction.
3. Requisite fee is deposited.
4. Checklist as in preview is complied with.
What may be reasons for rejection of the application even if it is submitted successfully?
Primarily it could be:
1. The documents are not proper (not clear etc.).
2. Address proof is not attached.
3. Name and address do not match with the documents.
4. IFSC is not mentioned on Bank Certificate.
5. Wrong DGFT Regional Authority is selected.
I have a half filled application, how do I access it again to complete the application?
You may access the application any number of times as you wish by login with same PAN,Email and Mobile that you have given first time when you created the application.
Can I fill AD Category Bank details in IEC?
Yes, you can fill AD Category Bank details in IEC. There is space to fill only one Bank account details in IEC application and the same will be shown in your IEC Registration Certificate. It is always advisable to put that banker details with whom you deal regularly and have good relations.
AD (Authorised Dealer) Category Bank means the bank who deal with the conversion of currency notes, coins or travellers' cheques designated in foreign currency into Indian Rupees and vice versa. Their objective is to provide easier foreign exchange facilities for travelers and tourists, including NRIs.