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Import Export Code (IEC)
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Get Your IEC Code for Only ₹3,000!
IEC Certificate Issued in 3-4 Days.
The Import Export Code (IEC) is a ten-digit unique identifier assigned to individuals or companies, required for any import or export activities. Obtaining an IEC is the initial step for businesses aiming to enter international markets by exporting or importing goods and services. Trade benefits not only individual businesses but also bolsters the country’s economy. The government has prioritized trade facilitation to lower transaction costs and processing times.
The Foreign Trade Policy seeks to simplify import and export processes through improved trade facilitation measures. These initiatives support both import and export activities, with a strong emphasis on promoting business growth. Expanding into global markets is often the first step toward this goal. To maintain compliance with regulations, annual IEC renewal is mandatory for all IEC license holders.
Exporters can also register ports through the ICEGATE portal, a process streamlined by AD Code Registration following the issuance of an IEC. The Foreign Trade Policy consolidates various provisions to foster a conducive environment for import and export activities. Implementing these initiatives can significantly enhance an organization’s growth, providing access to new markets and opportunities in international trade.
Overview of Import Export Code Registration
Complete the IEC registration Application Form
Provide us required Documents
Make an Online Payment
Our expert team will manage the Application process IEC Registration
Certificate of IEC registration will be mailed after completion of registration
How to register IEC registration with Corporate Shastra
Advantages of IEC to Your Business
When discussing business, profit is always a primary concern. At Corporate Shastra, our aim is to help your business leverage legal advantages, focusing on how the Import Export Code (IEC) can enhance your operations. The government has prioritized trade facilitation to lower transaction costs and processing times, making Indian exports more competitive. Various provisions of the Foreign Trade Policy and government initiatives have been consolidated to support businesses.
Curious about how IEC can benefit your business? Let’s explore its advantages for both exporters and importers:
Expand into International Markets: The IEC enables you to take your business global. It’s essential for engaging in international trade, opening avenues for growth and expansion in foreign markets.
Legalize International Trade: The IEC acts as your license to export goods and services to other countries and import necessary materials. It ensures that your cross-border trade is both legal and smooth.
Convenient Online Service: You can now obtain your IEC online from the comfort of your home. As long as you provide the necessary documentation, there’s no need to visit government offices.
Access to Export/Import Subsidies: Businesses with an IEC can benefit from government programs, including export subsidies and excise tax concessions for imports. These benefits can lead to tax relief if specific conditions are met.
Essential for Customs Clearance: The IEC Code is necessary for customs clearance. It must be provided to customs authorities, and all bills of lading must include the importer’s IEC Code.
Enables Electronic Fund Transfer (EFT): Exporters can use EFT to pay their license fees online, eliminating trips to the bank. This convenient method is part of the government’s push towards fully electronic payments, with only electronic applications now being accepted.
Before diving into the import export license process, let’s review the documents required to obtain an Import Export Code (IEC) license online in India. The type of entity applying for an IEC can be one of the following: Sole Proprietorship, Partnership, LLP, Private Limited Company, Public Limited Company, Trust, HUF, or Society.
The documents required for an IEC code are as follows:
PAN of the business entity
Address Proof of the applicant’s entity (electricity bill)
Registration/Certification Number
Bank account details of the entity with Cancelled Cheque
Identity proof (Aadhaar Card, Voter Id Card, Passport)
Passport size photograph
Documents Required
How to acquire Import Export Code (IEC)
You can apply for an Import Export Code (IEC) both online and offline. Here’s a breakdown of the process into five simple steps:
Step 1: Register on Government PortalStart by registering online through the official DGFT (Directorate General of Foreign Trade) portal.
Step 2: Prepare Required Documents
Once registered, gather and prepare all the necessary documents for your application, as previously outlined.
Step 3: Submit Application for IEC
Complete the ANF2A (Aayat Niryat Form 2A) and attach the required documents. This form is crucial for applying for the Import Export License.
Step 4: Verification by DGFT
After submission, the DGFT will verify the uploaded documents. Your application may be approved or rejected based on the accuracy and completeness of your submission, so ensure all documents are uploaded correctly to avoid issues.
Step 5: Approval and Issuance of IEC
If your application is approved, you will receive your IEC. For online applications, the e-IEC will be available on the DGFT website, and you will be notified via email once it’s ready.
Renewal and Validity of Import Export Code
The Import Export Code (IEC) does not have a defined expiration date like other government licenses. However, due to amendments made on February 12, 2021, in Chapters 1 and 2 of the Foreign Trade Policy, it is now necessary to renew the IEC annually. This change requires all holders of IEC or e-IEC to update their information on the DGFT portal each year. Even if there are no updates to the details, a confirmation must still be submitted online.
To maintain compliance, make sure to renew your IEC every year with the help of Corporate Shastra!
To sum up, having the Import Export Code (IEC) is crucial for businesses engaged in global trade. This valuable tool enables entry into worldwide markets and enables seamless cross-border transactions. Possessing an IEC helps companies comply with customs regulations, expand their international reach, and discover fresh possibilities. Obtaining an IEC is a vital measure to foster development, ensure adherence, and establish a solid position in the constantly changing realm of international commerce.
At Corporate Shastra, we assist businesses and manufacturers throughout the entire IEC registration process. Our knowledgeable team offers thorough support to guarantee a smooth and efficient registration experience.
Summary
Frequently Asked Questions (FAQs)
How to apply for New IEC application online?
There are few steps that you have to follow :
Go to Official site
Apply for new IEC
Fill all the details
Receive temporary password
Successfully registered
Submit documents
Get IEC
What is IEC code registration?
How long does it take to get IEC code?
Which DSC is required for the IEC code?
Can I surrender my IEC number?
How to obtain an Import Export Code?
How can an NRI apply for IEC?
Do we need to renew our IEC license from now onwards?