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IMPORT EXPORT CODE REGISTRATION

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KNOW ALL ABOUT IMPORT EXPORT CODE

What is IE CODE?

IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.

The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad. IEC Registration can be done through LegalRaasta in Delhi NCR, Mumbai, Bengaluru, Chennai & all other Indian cities.

IEC DOCUMENTS IN RESPECT OF INDIVIDUAL/ PROPRIETOR/ PARTNER/ DIRECTOR

Copy of PAN Card

Passport size photograph

Copy of Aadhaar Card/ Voter identity card

Authorization letter (In case of Partnership)

Authority from other Directors on letter head (In case of company)

Copy of Partnership deed (In case of Partnership)

Board Resolution/self declaration (In case of Company)

Telephone Bill in the name of the Individual (In case of individual)

IEC DOCUMENTS IN RESPECT OF ENTITY

Copy of PAN Card firm/company

Copy of Property papers (If owned property)

Copy of Rent agreement (If rented property)

Landlord NOC (Format will be provided by us)

Cancelled cheque of firm

Electricity/ water bill (Business Place)

Telephone Bill in the name of the business

Copy of Service Tax returns (In case of Proprietorship)

Certificate of incorporation (In case of company)

Bank statement of firm/company

FEATURES OF IMPORT EXPORT CODE


 
 

Step1: Application Preparation

An application must be made in the Aayaat Niryaat Form 2A format to the DGFT in that region where the registered office of the company is established. Government has also arranged online filing facility for obtaining IEC.

Step 2: Application Processing

Details of the business and its proprietors, directors or partners, bank account details and a bank certificate are the basic requirements of ANF 2A. All the required documents for IEC need to be submitted with ANF 2A. Digital signature is required on the ANF2A form.

Step 3: IEC fee payment

Once the application if complete, it should be filed with DGFT and an application fee need to be paid to the government. IEC department may send back your application for correction / change. You need to reply back to the DGFT in 15 days.

Step 4: IE Code Issuance

Once the application is completely verified by the department, the Directorate General of Foreign Trade will allot an IE Code for your business. This IE code comes in both soft copy and hard copy. You receive the softcopy via email and can start the import export transaction with this.

STEPS TO APPLY IMPORT EXPORT CODE


 
  • Business growth: Taking your services or products to the international market will enlarge your businesses. IEC enable you to sell products outside India
  • Export Subsidies: On the basis of IEC, companies or firms can benefits and subsidies their exports/ imports from DGFT, Customs and export promotion council.
  • Lifetime validity: IE Code is issued for the lifetime of the entity and requires no renewal. So once an IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.
  • No Return Filing: IE Code does not require filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.
  • Individuals can have IE Code: Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.

FREQUENTLY ASKED QUESTIONS


 
 
1. Who must obtain Import Export Code Registration?
– Any person who intends to import or export goods and services from or to India must obtain Import export Code.
 
2. Is there any tax levied on Import Export Code?
– No, tax is not levied on Import Export Code. However, custom duty maybe levied. Custom duty depends to the category of the products imported or exported. This can be found at the custom departments’ website.
 
3. What is the time taken to acquire Import Export Code?
– After submitting all the requisite documents IEC is typically allotted by DGFT in 5-10 days. It is not necessary to show proof of any import or export to obtain IE Code. Now a days, as IEC can we partially applied online with the help of digital signature, IEC can be obtained in less than a week.
 
4. How can I get a duplicate IEC Certificate?
– If you have taken IEC Certificate in new process e-IEC online, then you can download your certificate any time by login into the IEC portal with your username details. But if you had taken your IEC in physical process, you have to re-apply for e-IEC with all the documents and DGFT will provide you certificate in new online format.
 
5. How do I modify my IEC license?
– If you or a company wants to modify any details in IEC license, then you can do it online in your IEC application. IEC modification required resubmitting the application with the DGFT once again with all the required documents. Also, IEC modification fee needs to be submitted with the department.
 
6. Are any monthly returns required to be filed under Import Export Code?
– IEC is only a license permitting the import and export of goods. Therefore, no return is required to be filed under IEC code.
 
7. Who is not required to obtain IEC?
– You will not need an IEC code under the following cases:

  • Person exporting or importing goods for personal use and not for activities related to business.
  • Persons exporting or importing goods to/from Nepal or Myanmar through Indo-Myanmar border areas, a value of which does not exceed Rs.25,000/- in a single assignment.
  • Ministries or departments of central government do not require obtaining IEC
 
8. In which cities does LegalRaasta provide IEC registration?
– LegalRaasta provides IEC application services across India in all cities. We have done IEC registration in Mumbai, Delhi, Gurgaon, Noida, Bangalore, Chennai, Hyderabad, Ahmedabad, Kolkata, Surat, Pune, Jaipur, Lucknow, Kanpur, Nagpur and other Indian cities.
 
9. Why should I choose LegalRaasta for IEC registration?
– Legalraasta.com is one of the best online service portals to help companies register IE Code in India. We have 10 years of experience in application of IE Code. LegalRaasta is having its 30+ regional offices in India and expand its network in India with 2000+ customers for IE Code.

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