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In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. However, doing business globally isn’t just a cup of tea for everyone. Before going global, you need to follow several procedures and laws in place and get different registration and license. IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing or exporting from India. It is also known as Importer- Exporter Code.
IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code which has lifetime validity. Predominantly importers merchant cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc. without IEC.
Step 1: Application Form: First, you need to prepare an application form in the specified format – Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.
Step 2: Documents: Secondly, you need to prepare the required documents with respect to your identity & legal entity and address proof with your bank details & the certificate in respect of ANF2A.
Step 3: Filing Application: Once your application is completed, you need to file with DGFT via DSC (Digital Signature Certificate) and pay the required fee for the IEC Registration.
Step 4: IEC Code: Finally, once your application is approved then you would receive the IEC Code in a soft copy from the government.
Sole Proprietorship:
Partnership Firm:
LLP:
Trust:
HUF:
Import Export Code or IEC is a 10-digit code that a business or a person needs to import/export goods/services. This code is issued by DGFT (Director General of Foreign trade), Ministry of Commerce and Industries, Government of India. The validity of this code is for lifetime, that is, there is no need to renew it. This code is generated within 5-15 working days after the documents are submitted and all the corrections required are made.
Step 1: Preparing application – In order to get code an application must be made in the Aayaat Niryaat Form 2A format to the DGFT in that region where the registered office of the company is established. Government has also arranged online filing facility for obtaining IEC CODE ONLINE. Step 2: Processing of application – Details of the business and its proprietors, directors or partners, bank account details and a bank certificate are the basic requirements of ANF 2A. All the required documents for IEC need to be submitted with ANF 2A. Digital signature is required on the ANF2A form. Step 3: Payment of fee – Once the application is complete, it should be filed with DGFT and an application fee needs to be paid to the government. IEC department may send back your application for correction/change. You need to reply back to the DGFT in 15 days. Step 4: IE code assurance – Once the application is completely verified by the department, the Directorate General of Foreign Trade will allot an IE Code for your business. This IE code comes in both soft copy and hard copy. You receive the softcopy via email and can start the import export transaction with this.
1. Copy of PAN card firm/company 2. Copy of property papers (if owned property) 3. Copy of rent agreement (if rented property) 4. Landlord NOC (format will be provided by us) 5. Cancelled cheque of firm 6. Electricity/water bill (business place) 7. Telephone bill in the same name 8. Copy of tax returns (in case of proprietorship) 9. Certificate of incorporation (in case of company) 10. Bank statement of firm/Company
No. Only 1 IEC is issued to a person/entity. So if more than 1 IEC code is issued, then the same should be surrendered to the Regional Office for cancellation.
In such a case, you need to provide an affidavit so that the issuing authority of the IEC code can issue a copy of your IEC number.
Yes you can. You need to inform the issuing the authority about such decision. And they shall immediately cancel your IEC number after electronically transmitting it to DGFT for onward transmission to the Customs and Regional Authorities.
Any person/business trying to kick start his export/import business is required to get IEC number.
Any person/business trying to kick start his export/import business is required to get IEC number.
If you have taken IEC Certificate in new process e-IEC online, then you can download your certificate any time by login into the IEC portal with your username details. But if you had taken your IEC in physical process, you have to re-apply for e-IEC with all the documents and DGFT will provide you certificate in new online format.
If you or a company wants to modify any details in IEC license, then you can do it online in your IEC application. IEC modification required resubmitting the application with the DGFT once again with all the required documents. Also, IEC modification fee needs to be submitted with the department.
