Import Export Code (IEC) License Registration
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Import Export Code Registration?
One who intends to grow or expand their business globally must follow through with standards and directions of The Foreign Tarde (Development and Regulation) Act, 1992 to obtain their Import Export Code (IEC) License. An IEC is a 10-digit code mandatory for carrying import-export business over the globe issued by the Director of Foreign Trade in India.
IEC and PAN act as two peas in a pod for import-export registration procedures. IEC follows a PAN-based procedural approach which accounts for the latest trade circular by DGFT, which includes PAN as an alternative for the IEC license. Since the implementation of GST, a GSTIN may also be used for export/import in India. However, as GST registration is not mandatory of every person henceforth, for uniformity in the entity identification, the PAN of the entity will be used for the same.
Along with import-export registration one also needs to make taxation registration and registration of their respective business structures to successfully run their business. An IEC is required to be presented before the customs authorities by an importer if they have to clear their shipments from the customs. It is needed by an importer who has to send the money abroad as legal authorization to the banks. IEC must be acquired by an exporter who wishes to send their shipments or when they are to be paid in foreign currency directly into their banks.
The foremost step to obtain an IEC license includes an application made with DGFT. Further, one needs to get their document verification done and obtain Digital Signature Certificate (DSC) to complete the registration process. Finally, one receives a soft copy of the IEC code after the successful approval of their registration.
Here’s how it works
1. Fill Form
Simply fill the above form
to get started.
2. Call to discuss
Our expert will connect with you
& prepare documents.
3. Get certificate
Get your Company
Incorporation certificate
Benefits of Import Export Code
Business Expansion
Registering your business with DGFT will help you take it to the global heights by introducing it in the global market and reaching out to a larger market.
No return filing
After registering with IEC the business owner does need to file any returns or worry about the validity of the license. Even the export transactions will not be required to file with DGFT.
No renewal
An IEC license have the life span as same as that of the business. The license sustains until the business sustain therefore there is no time or money consumption for license renewal.
Easy documentation
Registration for an IEC does not need requires numerous documents. It consists of only a small list of four documents. Essentially, a passport size photograph, a copy of PAN card, a copy of ID proof, and a canceled cheque.
No compliance
Being similar to a PAN card, IEC need not be filed for any periodical returns or require any fees for its annual maintenance thus, making it less compliant with very relaxational maintenance.
Online Conduction
Registering and obtaining an IEC is a complete internet-oriented procedure. One does not need to fear bureaucracy and kill their time as in a real-time registration.
Documents required for IE Code Registration
Company/Firm Name
Company/Firm Object
PAN Card (Proprietor/Partner/Director)
Aadhaar Card (Proprietor/Partner/Director)
Voter ID / Driving License
Company/Firm Cancel Cheque
Latest Electricity Bill (For Address Proof)
Rent Agreement (If the office is Rented)
Email ID’s (Proprietor/Partner/Director)
Mobile Number’s (Proprietor/Partner/Director)
Photo’s (Proprietor/Partner/Director)
Startup
Economy
Business
Corporation