IMPORT EXPORT CODE

An Import Export Code, otherwise called IEC is a code allotted to persons or organizations bringing merchandise into or sending out products from India. It is a 10 digit number which is given by the DGFT, Ministry of Commerce. 

The Ministry of Commerce and Industry of the Government of India has assigned the liability of execution of the import and fare Policies of India to the Directorate General of Foreign Trade (DGFT)

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    Requirement and Restrictions on IEC Code

    Eligibility

    Importers-Importers who are hoping to bring goods into India are required to enroll for IEC. The merchants additionally need to quote the IE Code while clearing the customs. Moreover, banks require the IE code of the business/individual while sending money to abroad. 

    Exporters-Exporters who are hoping to send out goods from India are required to register for IEC. The exporters additionally need to quote the IE Code while sending shipments. Likewise, banks require the IE code of the business/individual while accepting money from abroad. 

    Proprietors-It isn’t important to incorporate a company so as to get an IE Code in your name, individual owners of a business can likewise acquire an IE code

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    Validity, Duplicate, Surrender of IE Code

    Validity: The IEC number allocated against one PAN is valid for the whole lifetime for the applicant/business and it is legitimate for every one of its branches/divisions/factories. 

    Duplicate: if there should be an occurrence of a lost IEC number the giving position, DGFT, will consider a request for the issue of a duplicate IEC number, in the event that it has been delivered with an affidavit. 

    Surrender: In the event that the trader wishes to end their operations, they may give up their license to the issuing authority. At the point when the authorities get such an intimation of cancellation from the trader, the authority cancel the license with quick impact and transmit the equivalent electronically to the DGFT, and furthermore for sending the transmission towards Customs and Regional Authorities.

    Benefits

    Potential Global Exposure:

    IEC empowers organizations to extend their potential effort by moving from local markets to national markets and over and across the borders to worldwide markets. 

    Advantages from the government:

    The government of India is continually assisting with empowering exports from the nation. To this end, the DGFT, Customs and Exports promotion Council provide companies with export scheme benefits enabling and encouraging exports via the IEC Code Registration.

    No Renewal Hassle: 

    The DGFT gave IE Code is substantial for the whole lifetime of the candidate and thus there is no requirement for restoring your Import Export License, again and again, leaving you with just one-time enrollment costs. 

    Yearly Compliances:

    Transactions and shipments finished with the assistance of the IEC number don’t need to be repeated anyplace rather than Tax Returns. There are no obligatory yearly compliances for exchanges done by means of the IEC enrollment 

    Anybody, Anywhere:

    As referenced beforehand, it isn’t important to be a business entity so as to register IE Code any individual hoping to be associated with the import-export of goods.

    Documents Required

    Sl No Particulars Documents required
    1 Proprietorship Photocopy of PAN card
    Digital Photograph (3x3cms)
    Photocopy of any one of these 

    • Photocopy of Voter’s ID-Card
    • Passport (first and last page)
    • Driving License
    • Aadhaar card
    Sale deed in case business premise is Rental/ Self-Owned/ Lease Agreement
    If office is rented/ leased or latest Telephone /Electricity Bill
    Bank Certificate as per ANF 2A(I)(Physical Application) and E-IEC(Online Application)/ Cancelled Cheque with pre-printed name of applicant and A/C No
    2 Partnership Firm Photograph of the Managing Partner (3x3cms)
    Photocopy of PAN card of the applicant unit
    Photocopy of any one of these 

    • Photocopy of Voter’s ID-Card
    • Passport (first and last page)
    • Driving License
    • Aadhaar card
    Duplicate copy of Partnership Deed
    Sale deed in case business premise is Self-Owned or Lease /Rental Agreement
    If office is rented/ leased or latest Telephone/ Electricity Bill
    Bank Certificate according to ANF 2A (I) (Physical Application) and E-IEC(Online Application)/Cancelled Cheque with pre-printed name of the applicant unit and A/C No.
    3 HUF(Hindu Undivided Family) Photograph of the Karta (3x3cms) 
    Photocopy of PAN card 
    Photocopy of any one of these 

    • Photocopy of Voter’s I-Card
    • Passport (first and last page)
    • Driving License
    • Aadhaar card.
    Sale deed if business premise is Self-Owned or Rental/ Lease Agreement
    If office is leased / rented or latest Telephone/ Electricity Bill
    Bank Certificate according to ANF 2A(I) (Physical Application) and E-IEC(Online Application)/ Cancelled Cheque with pre-printed name of the applicant and A/C No.
    4 Society or Trust Digital Photograph of the signatory applicant/Secretary or Chief Executive (3x3cms)
    Photocopy of PAN card of the applicant unit
    Any one of these  

    •   Photocopy of Voter’s I-Card
    •   Passport (first and last page)
    •   Driving License
    •   Aadhaar card
    Sale deed if business premise is Self-Owned or Lease/ Rental Agreement
    In case office is Rented/ Leased latest Telephone / Electricity Bill
    Bank Certificate according to ANF 2A(I) (Physical Application) and E-IEC(Online Application)/ Cancelled Cheque with pre-printed name of the Registered Trust / Society and A/C No.
    Duplicate copy of the Trust Deed / Registration Certificate of the Society

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