Import Export Registration

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Import Export Code (Import export registration)

What is Import and Export code?

Import and Export Code (IE) is a registering process required for people who are importing goods or exporting goods and services from India. The Ministry of Commerce and by the DGFT (Director General of Foreign Trade) are the responsible authorities for Import export registration. The validity of this code is for a lifetime and without this code, the importers cannot proceed and the exporters cannot benefit from the exports. The code holder(IEC) does not require any sort of return filings Setting a business for the product is not required for this 10 digit code.

Today's age is all about expansion of the business. Expanding your business beyond the domestic market is the need of the hour as it has limitless possibilities. But it isn't so easy as it seems as before taking the business global one must follow certain rules and regulations. Addition to all of these things one must also get their IEC license which is also one of the required things if you are importing or exporting from India.

In India, IEC is an absolute necessity for anyone wanting to kickstart their business be it import or export.

Where is IEC Required?

Online application for IEC requires only two documents

  • To get their shipments cleared from the customs an importer has to verify it from the customs authorities.
  • IEC is required by the banks when an importer sends money to someone in foreign countries.
  • It is needed by the customs port when an exporter has to send the shipments.
  • It is required at the banks when exporter sends money which is in foreign currency directly in his/her account.

Things included in our IEC package

  • Drafting Documents
  • Application Filing
  • Payment of Government Fees
  • Application Processing & completion of Registration

Documents required Import Export Code Registration(IEC)

The following documents are required For IEC Code Registration:

  • Individual’s/Firm’s/Company’s copy of PAN Card
  • Individual’s voter id/ Aadhar card/passport copy
  • Individual’s/company’s/firm’s cancel cheque copy of current bank account
  • Copy of Rent Agreement/Electricity Bill Copy of the premise

Benefits of IEC

  • Eases expansion of business as it assists in taking your products and services to the market abroad.
  • Helps a company avail several benefits of their imports and exports from the customs, export promotion, DGFT etc.
  • Once allotted the IEC does not require filing of any returns until it is valid.
  • IEC is easily processed and the code is generated and obtained from the DGFT within 15 days after the application is submitted.
  • IEC code is effective for the lifetime of a business/entity.

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