Importer Exporter Code is an identification number issued by the Directorate General of Foreign Trade (DGFT) for Importing and Exporting business in India. This identification number is shortly known as IEC or IE Code. Import Export Code registration is mandatory to do Import Export business in India. With a view to maintain the unique identity of an entity, consequent upon introduction / implementation of GST, IEC shall be same as Permanent Account Number(PAN) and shall be separately issued by DGFT based on an online application. The Import Export Code (IEC) plays a crucial role in international trade by serving as an identification number for businesses engaged in import-export activities in India. No export or import of goods shall be made by any person without obtaining an IEC unless specifically exempted. For export of services or technology, IEC shall be necessary on the date of rendering services for availing benefits under the Foreign Trade Policy. Exempt categories and corresponding permanent IECs are given in Para 2.07 of Handbook of Procedures. The IEC facilitates seamless customs clearance, simplifies the documentation process, and helps businesses expand their reach globally. It also enables the government to track the flow of goods, monitor foreign trade, and regulate imports and export. In summary, the IEC is necessary for businesses to engage in international trade, and obtaining it is a prerequisite for doing any import or export activities in India.
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In summary, choosing Ourtaxpartner.com for IEC registration in India offers businesses expert assistance, a seamless online application process, cost-effective solutions, timely delivery, and 24/7 customer support.
The Import Export Code (IEC) is very important for businesses engaged in import-export activities in India. Some of the key reasons why an IEC is necessary are:
Mandatory Requirement: The IEC is mandatory for businesses or individuals to engage in import or export activities in India. It is an identification number the Directorate General of Foreign Trade (DGFT) uses to track importing and exporting activities.
Global Expansion: With the IEC, businesses can engage in global trade and expand their reach globally. It allows businesses to access international markets and explore new business opportunities.
Simplifies Documentation: The IEC simplifies the documentation process and facilitates seamless customs clearance. It helps to streamline the process of importing and exporting goods, making it easier for businesses to engage in international trade.
Regulatory Compliance: The IEC enables the government to regulate the import and export of goods and monitor foreign trade activities. It helps ensure that businesses comply with international trade’s legal and regulatory requirements.
In summary, the IEC is a critical requirement for businesses to engage in import-export activities in India. It helps businesses expand their reach globally, simplifies the documentation process, and ensures regulatory compliance.
Import Export Code issued by the DGFT have unlimited validity and also no need to file any kind of monthly returns like GST Return Filing or Income Tax Return Filing against the IE Code Registration. Every IEC holder mandatory update the major changes in business in IEC Database at DGFT like changes in PAN, Communication address, authorized signatory etc. Now the modification of IEC procedure is simplified. An existing Import Export Code can cancel by giving a Letter of Cancellation with authorization at DGFT.
DGFT Fees applicable to obtain new Import Export Code is Rs. 500/- and modification fees for existing IEC is Rs. 200/-. The applicant can pay the fees through online.
IEC is a mandatory requirement for all businesses in India that engage in import or export activities. It is a unique identification number that is used by the DGFT to track import and export transactions in India. Without an IEC, you cannot import or export goods or services from India.
Any person or entity who wants to engage in import or export activities in India needs an IEC. This includes individuals, proprietorship firms, partnership firms, limited liability partnerships (LLPs), companies, and any other type of business entity.
The process of obtaining an IEC is relatively simple and can be done online through the DGFT website. However, the process can be time-consuming and confusing for those who are not familiar with the requirements and procedures. That’s where Ourtaxpartner.com comes in. We specialize in helping businesses obtain their IEC quickly and easily.
There are many benefits of obtaining an IEC, including:
IEC is a 10-digit unique identification number issued by the DGFT that is mandatory for any person or entity who wants to engage in import or export activities in India. It is important because the government uses it to track import and export transactions, and without it, businesses cannot import or export goods or services from India.
It takes 2-3 working days to obtain an IEC through the DGFT website. However, with Ourtaxpartner.com, we can help you obtain your IEC certificate within a day.
The documents required for IEC registration include:
Ourtaxpartner.com specializes in helping businesses obtain their IEC quickly and easily. We handle all the paperwork and procedures on behalf of our clients, so they can focus on growing their businesses and competing in the global market. Contact us today to learn more!
Yes, IEC is mandatory for all types of goods and services that are being imported or exported from India. This includes physical goods as well as digital transfers like IT and ITES services.
Yes, even if you do not have a registered business, you can still apply for IEC as an individual. The process is the same as for businesses, but you will need to provide your personal details and documents instead of business details.
No, a PAN card is mandatory for IEC registration. If you do not have a PAN card, you must obtain one before applying for IEC. Ourtaxpartner.com can help you with both PAN card and IEC registration.
IEC may be applied on behalf of a firm which may be a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society. Firm must have a PAN, bank account in the name of the firm and a valid address before applying. Address may be physically verified by the DGFT on issuance of the IEC. Please keep your PAN, bank details and firm details ready before applying.
Address Proof : Sale Deed, Rent Agreement, Lease Deed, Electricity Bill, Telephone Land line bill, MoU, Partnership deed
Individual : Aadhar Card, Passport and Voter id also accepted
Note : In case the address proof is not in the name of the applicant firm, a Non Objection Certificate (NOC) by the firm premises owner in favor of the firm along with the address proof is to submitted as a single PDF document.
The Import Export Code (IEC) serves as a fundamental requirement for businesses engaging in import and export activities in India. Its significance is underscored by the following reasons:
In essence, the IEC is not just a procedural requirement but a critical enabler for businesses looking to explore and thrive in international markets. It ensures smooth operations, facilitates legal compliances, and aids in building trust and credibility in the global trade ecosystem.
An Importer / Exporter shall regularly update the Importer Exporter profile on the online IEC module to enable efficient delivery of services to the IEC holder. The documents & details available in the IEC Profile and online Repository will facilitate paperless processing in DGFT.
With the introduction of GST, GSTIN would be used for purposes of
(i) credit flow of IGST on import of goods, and
(ii) refund or rebate of IGST related to export of goods.
In view of this, it has been decided that importer/ exporter would need to declare only GSTIN (wherever registered with GSTN) at the time of import and export of goods. For residuary categories, UIN issued by GSTN and authenticated by DGFT will be used. For other, common number will be notified by DGFT. Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. As per the Trade Notice No-1, dated 27th January 2020 regarding restoration of IEC, attention of the trade invited to restoration of IEC which have been suspended by the DGFT HQ in cases where more than one IEC were obtained against the same PAN or IEC was obtained with an incorrect PAN.
IEC Format : An electronic copy of the IEC may be downloaded online on their DGFT Dashboard. The details of any IEC may be verified on the DGFT Website under Services ‘View IEC Related Details’
Validity of IEC : An IEC allotted to an applicant shall have permanent validity unless suspended/cancelled by the competent authority. The IEC will cover all branches / divisions / units / factories of the applicant. IEC’s can however be de-activated in pursuance of the policy in para 2.05(e) of FTP
Validity of IEC for EOUs / SEZs : An IEC will remain valid irrespective of a firm’s status as a DTA unit or an SEZ unit or an EOU/EHTP/STP/BTP unit.
One PAN-One IEC : Only one IEC shall be issued against a single PAN.
Surrender of IEC : If an IEC holder does not wish to operate allotted IEC, they may surrender the same online to the issuing authority. On receipt, the issuing authority shall examine the request. On approval the updated IEC shall be transmitted to the Customs authorities. IEC can be surrendered only if all authorizations/ obligations have been closed for the IEC or in cases where the firm has been amalgamated/acquired/merged etc. with another entity such that all the authorizations /obligations are transferred to the IEC of the new entity.
Modification of IEC :
Profile of Importer / Exporter : The Importer Exporter Profile captures important details with respect to the importing or exporting firm as registered with DGFT. The IEC is the primary part of the profile. In addition to the IEC, details such as REMC, Industrial registration details, Status holder details, Past Export Performance etc. are captured under this profile.
DGFT Public Notice No.76(RE-2013)/2009-2014 dated Nov.27, 2014 notified the new format for IEC application (ANF 2A) stating that the IEC application will have to be filed in online mode only w.e.f 1.1.2015, along with all requisite documents.
Ourtaxpartner.com help to file online application for Import Export Code (also know as IEC, IE Code) at Directorate General of Foreign Trade (DGFT). Our price are inclusive of IEC government fees fixed by DGFT. Ourtaxpartner.com now serve clients all over the major and minor cities in India like Delhi, Mumbai, Chennai, Bangalore, Kolkata, Hyderabad, Kochi, Ahmadabad, Surat, Jaipur, Thane, Pune, Indore etc. The price for Import Export Code online application registration is fixed for all over in India. We provide best price and value for our clients.
Why business obtain Import Export Code Registration ?
Chapter III of the Act describes the Importance, need and Registration of Import Export Code. As per chapter III, “ No person shall make any import or export except under an Importer – Exporter code Number granted by the Director General or the officer authorized by the Director General in this behalf”. So every importer or exporter must take IEC before doing the EXIM business and it is mandatory for them except notified statutory bodies. Import Export Code Registration is like a profiling of an Importer or Exporter. Now these days IEC issued by the DGFT uses as KYC Documents for banks, GST Registration, and other statutory bodies in India. It is increasing the importance of Import Export Code Certificate in our country.