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Import Export Code
In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. Doing business globally is more easy now-a-days due to the advent of internet and technology. However, before going business globally, you need to follow several procedures and laws and get various registration and license. IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing into or exporting from India. It is also known as Importer- Exporter Code.
IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code that has lifetime validity. Predominantly importer merchants cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc., without IEC.
•When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
•When an importer sends money abroad through banks then it’s needed by the bank.
•When an exporter has to send his shipments then it’s needed by the customs port.
•When an exporter receives money in foreign currency directly into his bank account then it’s required by the bank
Import Export Code Benefits
- Expansion of business
- Availing several benefits
- No return filing
- Easy processing
- No need for renewal
FAQs
IEC or Importer Exporter is a unique 10-digits alpha numeric code issued on the basis of PAN of an entity.
TO Import or Export in India, IEC code mandatory. No person or entity shall make any Import or Export without IEC code Number, unless specifically exempted.
An individual or a company who wants to do international Business can get an IEC. Individuals can use either the name of their name directly to apply for IEC.
IEC shell be not be necessary except when the service provider is taking benefits under the foreign Trade policy.
IEC is issued in electronic form (e-IEC) by Directorate General of Foreign Trade (DGFT) which is under Ministry of Commerce, Government of India.
The fees for IEC Professional Fees 2000/-
Valid Digital Signatures Token (Class II or III)
Valid PAN
Valid Mobile Number and Mail ID.
Valid Address Details of Branch Office.
Valid Bank Account in the name of IEC Holder
Valid Aadhar Card matching the details with PAN Card.
The new Portal is compatible with the latest versions of Google chrome/Mozilla Firebox/Microsoft Internet Explorer/Apple safari.
Yes, Application has to Filed online (ANF 2A format) for grant of IEC at DGFT portal.
Visit the DGFT website and login.
After Linking to IEC or Application of IEC proceed with Register Digital Signature details through navigating to My Dashboard>> View and Register Digital Signature Token
Read the information and ensure all pre-requisites for Digital Signature are met and then Click on "Register New DSC"
Select and proceed with your Digital Signature details
Once Pre-requisites for Digital Signature is done then user will be able to see list of ePass token on Click of Provider List, select the e-Pass token From the list.
Select Certificate for Signing from Certificate list, Individual based DSC is only allowed for Proprietorship type firm. Refer to the validations mentioned above.
Enter your DSC token PIN in the enter password field.
After successful Signing, success message is displayed.
Once user successfully register the Digital Signature details then you can view the Digital Signature details under current Digital Signature details, and you can perform any action on IEC with the active Digital Signature.
An IEC allotted to an applicant shall have permanent validity but it is mandatory to update the IEC annually so that the IEC is not deactivated. If the IEC updated between April-June period each year, no fee shall be charged for updation of IEC.
In case of non-updation of IEC within the prescribed time, it will be de-activated . An IEC so de-activated may be activated, on its successful updation. This would however be without prejudice to any other action taken for violation of any other provisions of the FTP.
After Successful payment you will get the Acknowledgement stating the Successful Submission of application for IEC with File No.
The Application status can be tracked using 'track status' and Receipt could again be printed.
Navigate to https://dgft.gov.in
Enter user name and password
Click services/IEC/Manage IEC
Verify your details
Click Print IEC
PDF displayed to print.
