IEC code Online Registration
IEC code Online Registration
IEC code Online Registration

IMPORT EXPORT CODE REGISTRATION

 

Ministry of Commerce & Industry |
Directorate General of Foreign Trade |
Government of India.
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Hassle Free Online Process
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Dedicated CA & Account Manager
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Advisory Session From Experts

What is Import Export Code(IEC) Registration?

Import Export Code (IEC) is issued by the Director General of Foreign Trade, Department of Commerce. It is a 10 digit number which is required to obtain by every person involved in international trade of Export and Import or in other words we can say that it is required to be obtained by every person who is engaged in the business of selling of goods or services in the international market. Each type of business which involves foreign transfer is required to obtain an IEC number. IEC Registration can be done digitally hence there is no need to visit DGFT.

Advantages of Import Export Code(IEC)

Businesses can benefit through import and export business to unlock the international market for their product or services they are involved in. IEC code is the main requirement to enter into international market which supports the growth and development of the business to a certain standard. Here are the Benefits or Advantages of IEC Registration for Businesses:

  1. Global Market Reach

As said, it is the primary requirement for the import into and export from India for the goods and specified services which enables the businesses to unlock the opportunities across the globe in international business market. It increases the global reach of the business and hence opens door for growth and expansion.

  1. Simple Document Requirement

The Import – Export Code can be obtained by any business entity or an individual. Below are the mandatory documents that are required for the Import Export Code Registration. PAN Card of the Applicant Cancelled Cheque Address proof of the Business

  1. PAN Based Registration

The Code is provided based on the Permanent Account Number of the business organisation. Therefore, the registration is not required based on place of business rather, a single business entity may require only one registration. As and when the business is dissolved, the registration is also revoked or surrendered.

  1. Life Time Validity

IEC registration is permanent registration which is valid for life time. Hence there will be no hassles for updating, filing and renewal the IEC registration. It is valid till the business exists or the registration is not revoked or surrendered.

  1. Import/Export Benefits

IEC code has huge benefit for importers as well as exporters. The registered business entities would be able to avail benefits in form of subsidies or otherwise declared by the Customs, Export Promotion Council or other authorities. After filing LUT under GST, the exporters can make exports without payment of taxes. In case the exports are made with payment of taxes, the exporter is able to claim refunds of the amount paid as tax.

  1. No Compliance

Unlike other tax registrations, the importer or exporter does not require to fulfil any specific compliance requirement such as Annual Filings or return filings. The code possesses no need of compliance after registration.

Documents Required for IEC Registration

  • PAN Card Of Entity
  • Bank Certificate / Pre-printed Cancelled Cheque
  • Address Proof of the firm
    Rent agreement | Lease Deed | Electricity bill | Telephone Land line bill | Mobile Postpaid bill | MOU | Partnership Deed
    Other acceptable documents(for Proprietorship only): Aadhar Card | Passport | Voter Id

IEC REGISTRATION FORM

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