Import Export Code (IEC)
Get IEC from DGFT @ ₹ 1,499/-
We help you to start your Import export business by seeking an Import Export Code (IEC) from DGFT. In our packages, we provide consultancy in documentation and information, Applying for IEC online and follow-up for IEC Approval.
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Introduction to Import Export Code
Import Export Code (IEC) is a ten digit alphanumeric code allotted to businesses carrying out import or export of products or services. No importing or exporting activities can be carried out by any business if it does not possess the Import and Export Code. The IEC is issued by the regional office of the Director General of Foreign Trade or DGFT and is used for the unique identification of import and export businesses by tax authorities like Customs and DGFT officers across India. Moreover, IEC code is used by the DGFT to regulate the importing and exporting activities of Indian businesses and secure the financial health of the Indian economy.
Play Video about Import Export Code Registration in India
Benefits for Import Export Code Registration
The Import export code registration is a simple process that must be undertaken by businesses involved in foreign trade. The Indian government has made IEC registration mandatory so that import export businesses can avail a number of benefits offered by the Indian government for the purpose of assisting their growth and prosperity. A few important benefits of IEC registration for import export businesses have been mentioned below.
- Avail government benefits like export subsidies, import subsidies, low custom duty, etc
- Explore the global consumer base in the global markets
- Trade legalized in foreign countries
- Lifetime validity of registration with no requirement for renewal
- Easy and 100% online PAN-based application for registration
How to apply for Import Export Code?
The process to register for IEC is extremely simple and 100% online. All you need to do is visit the official website of DGFT and register your business entity. After a successful registration on the website, you can fill out the application for IEC registration, attach necessary documents with it, pay the prescribed application fee, and finally submit the application form. Following the registration of IEC of your business, you will receive a registration certificate along with the allotment of IEC, which you can further use for foreign trade activities.
STEP 1 – Documentation
Before beginning the process of IEC code registration, you must arrange all the documents that are required to be submitted with the application for registration. A list of all such documents that must be submitted with the application have been mentioned in the section below. A failure to produce any of the prescribed documents, or filing of incorrect documents might result in the rejection of your entire application, and you might have to file a fresh application again. Therefore, it is advised that you carefully arrange all the documents beforehand to avoid any hassle or hindrance in the filing of application. STEP 2 – Visit the DGFT website
To begin the process of IEC registration, you must visit the official website of the Director General of Foreign Trade (DGFT). On the homepage of the website, you will have to click on the “Services” tab, and from the dropdown that appears on the screen, you will have to choose the “ IEC Profile Management” option. On clicking this option, you shall be directed to the Registration page of the website. STEP 3 – Register yourself on the DGFT website
On the new page that appears for registration, click on the “Apply for IEC option”, following which you can click on the “Register” option. The registration form will appear on the screen where you will be required to fill basic details like name, nature of business, contact number, contact email, and detailed address. STEP 4 – Conduct OTP-based validation
After filling out the details in the registration form, you shall be required to generate an OTP for the validation of the contact details mentioned in the form. The OTP will be received on the email ID and mobile number mentioned in the registration form, after their successful validation, a temporary password will be generated, which you can later use to login and fill out the detailed application form for online import export registration. STEP 5 – Login and fill out the application form
Using the temporary password, the next step is to login on the DGFT website and fill out the complete application, attach / upload the prescribed documents with it, and pay the prescribed application fees. After the application is complete, you can click on the “submit” option, and wait until your application is being processed. Note that the application to be filled out shall be available in the ANF 2A format. STEP 6 – Issuance of IEC code and IEC certificate of registration
After the application for IEC registration has been successfully processed, the DGFT will allot an Import Export Code and issue a registration Certificate to the applicant, as a conclusive proof of his registration of IEC. Only receiving the IEC code and the registration certificate, the applicant can begin import or export activities and conduct legitimate foreign trade. Documents required for Import Export Code Registration
Documentation is a significant part of the entire process of Registration of IEC, as it may either result in the approval or rejection of the application. The documents prescribed to be submitted with the IEC application depends on the type of entity that is applying for it. In the table given below, we have mentioned a complete list of documents required for registration of IEC, based on the type of entity that is filing the application.
| Individual | Proprietorship | Partnership Firm |
|---|---|---|
|
|
|
| LLP/ Company | Trust / Society | HUF |
|---|---|---|
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Frequently Asked Questions About IEC Registration
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IEC is a unique ten digit number allotted to a person who intends to engage in the business of export or import of goods.
Registration of IEC is mandatory for all entities who are involved in foreign trade or import and export of goods and services. However, there are a few exemptions which we have discussed below.
Following are entities can apply for IEC registration:
- Individual traders
- Sole Proprietorship
- Partnership Firm
- Limited Liability Partnership
- Private limited Company
- Public Limited Company
- Government undertaking
- Section 8 Company
- Registered Society
- Trust
- HUF
A class II DSC is used to sign an application for registration of IEC.
The government fee for applying to DGFT for allotment of IEC is Rs. 500, which has to be paid online while applying for the IE Code application.
There is no fee prescribed for modifying Import Export Code registration details, provided the application for amendment is filed within 90 days of the change in the details. However, for a delayed application filing the late fee charged is Rs.1000.
Businesses exempted from the requirement of IEC code include the following:
- Imports and exports for personal consumption
- Import and export from Myanmar and Nepal, where a the cost of a single consignment does not exceed Rs.25,000
- Import and export by Government departments and ministries
- According to Schedule 2, Appendix 3 of ITC, import and export of SCOMET, which are special chemicals, organisms, materials, equipment, and technologies
Once issued, the IEC registration certificate shall be valid for lifetime, without any need for its renewal. The certificate shall be valid unless the IEC registration of the entity is canceled or is voluntarily surrendered.
An Import Export Code is needed in the following circumstances:
- When the imported shipments of the businesses need a customs clearance
- When the exported shipments of the businesses need a customs clearance
- When the importer is sending money abroad, IEC is required by the banks
- When the exporter is receiving money from abroad, IEC is required by the banks
It usually takes 10-15 working days for the issue of IEC, from the date of submission of the application.
No, there are no further legal compliances to be fulfilled after the issue of IEC code and IEC registration certificate. Once you have obtained the registration, you can begin your import / export business without any hassle or hindrance.
No penalty is imposed for not having IEC registration. However, the only consequence is that you will not be allowed to carry out foreign trade through import and export of goods and services if you have not obtained the IEC registration.
The application for IEC registration may be rejected on the following grounds:
- Incorrect documentation
- Inadequate documentation
- Incorrect information furnished in the application
- Outdated or forged bank certificate / cheque
- Invalid legal drafts like LLP deed, partnership deed, sales deed, etc
Yes, after filing an online application for IEC registration, a Certificate of IEC registration is issued in the digital format and not issued in the physical form.
The IEC registration certificate can be downloaded directly from the DGFT website. Since the certificate is not issued in the physical form, no physical delivery of the certificate is possible.
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