Import export code (IEC) Registration
IEC Code is unique code provided to every Importer and Exporter. IEC code is a 10 Digit Code. IEC Code is must for every business that is in import and export. IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.
IEC is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. 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 nature of the firm obtaining an IEC may be any of the follows- "Proprietorship, Partnership, LLP, Limited Company, Trust, HUF and Society." Consequent upon introduction of GST, IEC number is the same as the PAN of the firm. The IEC would be separately issued by DGFT.
Importers Require IE Code
All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad.
Exporters Require IE Code
All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
Renewal
Renewal of the IEC code is mandatory as per Notification No. 58 dated 12th Feb 2021. Renewal/ Update is need to be done every year, from April to June. Non-renewal will have an impact of de-activating the IEC..
No Return Filing
IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.
Proprietors can have IE Code
Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.
Quick Processing
IE Code can easily be obtained from DGFT within 10-15 working days after submission of the application along with all the necessary information. It is not necessary to show proof of any import or export to obtain IE Code.
Validity of IEC
An IEC number allotted to an applicant shall be valid for all its branches / divisions / units / factories. IEC is valid for ever and no need to renew the same.
Duplicate copy of the IEC
If original IEC, issued is lost or misplaced, issuing authority may consider request for grant of a duplicate copy of the IEC in the same format , based on an affidavit.
Surrender of IEC
If an IEC holder does not wish to operate allotted IEC number, he may surrender the same by informing issuing authority. On receipt of such intimation, issuing authority shall immediately cancel it and electronically transmit it to DGFT and Customs authorities.
How to submit IEC Code application
Application can be submitted in person/by Authorised representative of the Company at the R & I counters in the regional offices of DGFT or it can be sent by post/courier.
Issue and Despatch of IEC Code
IEC allotment letter is sent through post at the registered office mentioned by the applicant in the application. Similarly deficiency letters are send by post or if application is through counter assistance system, they are hand delivered
Aadhaar e-Sign facility to link or apply for IEC
Proprietors, Karta / Partners / Trustee’s/ members of firm • Directors - Validated from MCA (Only after doing Modification of IEC in the new DGFT system)
DOCUMENTS FOR IMPORT EXPORT CODE REGISTRATION
1. PAN Card in case of proprietor/partnership firm/company.
2. Adhaar/voter id/passport of proprietor/partners of partnership firm/ Director of company
3. Cancelled cheque of current account of proprietor/partnership firm/company
4. Rent agreement in case of rented premises or copy of electricity bill.
5. Partnership Agreement in case of Partnership firm.
6. Certificate of incorporation in case of Company.
7. GST Registration certificate.
8.Passport size photographs.
9.Mobile number (Adhaar linked) for otp
10.E-mail id for otp
11.In case of absence of mobile number linked with Adhaar number, Digital signature certificate (DSC) shall be used to validate.
Note: Your mobile number should be updated with the Aadhaar authorities otherwise you cannot use E-Sign option because OTP will be sent to the number in the Aadhaar