Import Export Code (IE Code) HOW TO APPLY, BENEFITS AND LATEST CHANGES- VIRTUAL AUDITOR3 min read

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IE Code (Import export Code)

IMPORT EXPORT CODE (IE Code) 

Import Export Code (IE Code) ,IEC registration or IE Code abbreviated as Import Export Code is required by a person for exporting or importing goods.It is a 10 digit code based which is issued by the Directorate General of Foreign Trade (DGFT). , After implementation of GST, Director General of Foreign Trade has made the IEC PAN

All businesses which are engaged in Import and Export of goods require registering Import Export Code to register, best form of business is a private limited company registration

What is the IE Code? ( Import Export Code)

IEC registration is required by a person for exporting or importing goods, ( as per the latest amendment vide Trade Notice 23/2018-19 dated 8th August 2018.

What is the validity of IE Code? ( Import Export Code)

IE code has lifetime validity.

What are Requirement of IE Code (Import Export Code)

Now the first thing one require to start Export Import business is Import Export Code (IEC). It is same as the PAN, however, it is compulsory to apply for IEC and register the firm with DGFT.

IEC is issued to any bonafide Individual or Company.

As a Passport is mandatory for traveling abroad, similarly an IEC Code is mandatory to Export or Import anything from/into India.

NO IEC CODE IS NEEDED NOW FOR SERVICE EXPORTERS  unless benefit is claimed under Foreign trade policy

Application for IE Registration

IEC can be obtained from any of the Zonal and Regional offices of Director General of Foreign

Trade depending on area/region where the individual/company is located. An application has to be submitted online at DGFT web site http://dgft.gov.in duly filled in alongwith required documents and fees.

  • First of all we have to prepare an application form in the prescribed format i.e.AayaatNiryaat form 2A format and filed with the proper DGFT Regional office.
  • In the second step we have to prepare the necessary documents related to the applicant identity & address proof and legal entity proof with the bank details & certificate in respect of ANF2A.
  • In the third step once application has been completed, we file with the DGFT through DSC of the applicant and pay the appropriate fee or cost of the IEC Registration.
  • Once application has been approved then you will get the IEC Code in the soft copy from the government department.
  • Requirement of having to sign with DSC is done away with (No DSC required for IEcode)

    What are the Documents Required for Import Export Code (IE Code) Registration?

  • IEC Code Registration required following things:
  • Individual Person
  • Personal or Company or Firm Pan Card Copy.
  • Personal aadhar card or voter id or passport copy.
  • Personal or company or firm current bank account cancel cheque copy.
  • Electricity Bill Copy or Rent Agreement or Sale deed of the premise copy.Features of the Import Export Code (IEC) Registration

CHANGES IN EXPORTER-IMPORTER CODE (IEC CODE) PROCEDURE

DGFT VIDE Trade Notice No 23 dt-8.8.18 has made significant changes in the IE Code Procedures

No export or import shall be made by any person without obtaining an IEC number unless specifically exempted.

For service exports , IEC shall be necessary as per the provision in Chapter 3 only when the service provider is taking benefits under foreign trade policy. 

 

For any assistance of IE Coder registration contact virtual auditor support team @ [email protected]

 

Summary
IE CODE ( Import Export Code)
Article Name
IE CODE ( Import Export Code)
Description
IE CODE ( Import Export Code) , procedure and applicability
Author
Viswanathan
Publisher Name
Virtual Auditor
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