IEC Code Registration

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IEC Code Registration

IEC Code is “Importer Exporter Code”. To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number.

What Is The Meaning Of Import Export Code (IEC) License In India?

Import Export Code (also known as IEC) is a 10 digit identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also known as Importer Exporter Code. It is mandatory for companies and businesses to obtain this code to start a business that deals with import and export in the Indian Territory. It is not possible to deal with export or import business without this code.

IEC (Import Export Code) License is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code which has validity of lifetime. Predominantly importers merchant cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc. without IEC.

IEC Stands for IMPORTER EXPORTER CODE

Trademarks typically need to be renewed every 10 years to maintain their legal protection, with the renewal process initiated around six months prior to the expiration date.

No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer.

On the basis of IEC, companies can obtain various benefits on their exports/ imports from DGFT, Customs, and Export Promotion Council etc.

  • Only one IEC would be issued against a single PAN number. Any proprietor can have only one IEC number and in case there are more than one IECs allotted to a proprietor, the same may be surrendered to the Regional Office for cancellation.
  • In case of more than one proprietorship firm belonging to one proprietor, they will be indicated as branch offices of the first firm.
 

Normally two working days for processing. For cancellation of IEC 15 working days.

No, IEC is a permanent document issued to the Importer/Exporter only once and the same is not item based. The exporter/importer can venture into any item of Import/Export based on the IEC issued.

IEC Code Registration

The Import Export Code also referred to as IEC, is the first registration required for anybody importing or exporting goods or services from India. The International Economic Code (IEC) is a ten-digit code provided by the Directorate General of Foreign Trade (DGFT). It is a required document in the import and export industry.

Import Export Code is a criterion that may assist you in taking your business to the next level. Once issued, an IEC can be utilized by a business entity for the duration of its existence, with no need for renewal or filing. Importers who bring products into India must register for an Import-Export Code. Similarly, all exporters who ship items out of the nation must have an Import Export Code. In addition to all of this, you’ll need an IEC if you want to send money abroad., reach out to Efiling Center and get your IEC License!

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Can Individuals Apply For IEC Code?

Individuals with a PAN card who wish to start an import/export business can apply for an IEC code. To receive IEC from DGFT, you do not need to operate a business or have a registered business name.

Which Documents Are Required For IEC Registration?

 

The Following Documents Are Required For Import Export Code Registration:

 

  • A duplicate of a person’s PAN card, a firm’s PAN card, or a company’s PAN card, a voter id, Aadhar card, or a passport copy of an individual are required for IEC Code Registration.
  • Individuals, organizations, and firms can cancel cheque duplicates of existing bank accounts.
  • A copy of the property, a copy of the lease, or a copy of the utility bill
  • A self-addressed envelope for the IEC certificate’s registered postal delivery.