IEC Registration

Import Export Code Registration - An Overview

An import export code, a unique 10-digit code, is required for every import/export firm owner in India. IEC is a 10-digit code that can be found on the website of the Directorate General of Foreign Trade (DGFT). The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, and neither filing nor renewal are necessary. IEC is required for importers in order to send money to overseas banks, pass through customs, and ship products. Exporters require their IEC to transport shipments and receive money from foreign banks. In India, in order to conduct business, importers and exporters must get the IEC.

Benefits of import export code

• The IEC code registration enables business owners to register with online e-commerce companies and otherwise enter the worldwide market.
• Businesses can take use of government programmes like Merchandise Export from India Scheme (MEIS), and the Service Export from India Scheme (SEIS) for services, among others from customs and export promotion.
• IEC can be acquired swiftly and simply with the simplest of paperwork.

IEC Registration process

You must complete the following IEC registration steps in order to obtain your import export license online. Step 1: For import export licenses, the Certification Authority bestows a digital signature that is signed using the CA's private key. PKI, or public key infrastructure, technology is used by digital signatures. You must submit all necessary paperwork, including your bank account information and your digital signature certificate. Typically, a digital signature includes the information like Public key information, including the owner's name, public key expiration date, issuer's name, serial number, and digital signature. Step 2: Submit a form of application to the DGFT. The Directorate General of Foreign Trade will receive the online IEC application (DGFT). Users can go to the DGFT online portal to submit an application for IEC registration. Before completing the registration procedures, users must first establish a legitimate account on the aforementioned portal to fulfil this purpose. Step 3: Submit the required documentation using the format specified. The candidate will be asked for the aforementioned documentation when filling out the application. Take the necessary steps to submit the materials in the format requested by the application form. Also Read - Is GST Registration Mandatory for company Step 4: After submitting the application form and application costs, go to the payment section to submit the required fees. Step 5: The import export license will be issued to the firm as a soft copy for documentation examination after the authorities have verified the application and all related paperwork. The responsible authority must start the inspection procedure after receiving the IEC registration application in order to perform some legal checks. Step 6: Following a successful review of the application and supporting evidence, the authority will grant the IEC registration.

Documents Needed for Registration of an Import Export Code

• PAN card of the company is required for import export licenses (but not in the case of the proprietor).
• Certificate of incorporation or partnership deed for an import-export license.
• The most recent Electricity Bills or Telephone Bills or Gas Bills or Mobile Bills, or any other utility bills as address proof.
• Bank statements or cancelled check are necessary for current account in business name.

Eligibility to Get IEC license

Regardless of size, any type of business registration, including sole proprietorships, partnerships, private limited corporations, and charitable organizations engaged in the import and export of goods, may apply for an import-export code. An IEC is not necessary for the import or export of products intended for personal use that are unrelated to commerce, manufacturing, or agriculture. An establishment of a business is not required.

Import-Export Code Exemption

• Individuals who import and export commodities for personal reasons and for purposes unrelated to commerce, agriculture, or manufacturing.
• The parties/individuals who import/export products to/from Nepal and Myanmar with a single consignment must not exceed the amount of Rs25,000 through Indo-Myanmar border areas and China (through Namgaya Shipkila, Gunji, and Nathula ports).
• The exemption from acquiring IEC for the export of materials, organisms, special chemicals, equipment, and technology is not applicable, as stated in appendix 3, schedule 2 of ITC (SCOMET).
• Departments and ministries of the federal and state governments.

How can LegalRaasta assist with IEC Registration?

• Our experts will guide you through the entire process, from filling out the checklist to processing the paperwork.
• We'll keep you informed on the status of your application.
• Our experts will complete the import export code registration process quickly and affordably.
• Two-day IEC application submission guarantee in the DGFT office.
• We will help you fill out an online application for an import-export license.
• In only 3 simple steps, the IEC Registration Process is made simple and easy:

Also Read - What is The Import Export Code registration

1. Contact a member of our team.
2. Submission and document verification.
3. Inspection of the application is followed by the issuance of the certificate for import and export.