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 : 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-3 : 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-4 : 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-5 : 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.