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IEC is a key business identification number which is mandatory for export and imports.RegisterKaro.in is a leading online service for online IEC registration anywhere in india
For a limited time period, get your import export code register online for ₹499/-, Just submit your details and our business expert will get on a call with you to explain the process.
*Government Statutory fees would be charged seprately
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STEP 1: Application Form
IEC Registration Steps
First, you need to prepare an application form in the specified format – Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.
STEP 2: Call From Expert
Once the form is fill our expert will call you and explain and guide you through the whole procedure of registering import export code.Along with these expert support you through email,phone and chat during business hours.
STEP 3: Document
After the expert call you need to prepare the required documents with respect to your identity & legal entity and address proof with your bank details & the certificate in respect of ANF2A.
STEP 4: IEC Code
Finally, once your application is approved then you would receive the IEC Code in a soft copy from the government.
With the rapid upsurge in globalization, nowadays, the opportunity of having a cross border business is also increased. Moreover, an IEC Registration also assists an individual in unlocking the growth opportunities of the international business. Further, every individual who wants to expand his business on a global platform by dealing with the Import and Export business is mandatorily required to obtain IEC Registration.
Hence, having an IEC (Import and Export Code) is one of the basic and essential prerequisites for expanding and running a business at the global level. Moreover, an IEC has various advantages annexed to it. One such benefit of an IEC Code is that it not only assists in unlocking the international market but also helps in increasing the business's growth level.
IEC is a 10-digit code which has a lifetime validity. 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.
Features Of IEC Registration
The Following Listed are the Features of IEC Registration:
No business can indulge in the activities concerning Import or Export without obtaining IEC registration.
IEC works as evidence for the firm involved in the import or export of goods and products
Once an individual has obtained IEC, then the same remains valid for a lifetime. This means this code does not require any filing or renewal.
IEC Code is not required for the goods or services imported or exported either for individual or legislative purposes.
An IEC is obligatory and mandatory for making foreign bank transfers.
It is considerable for all parts of importers or exporters business.
When is IEC Registration is Required?
When an importer wants to clear his shipments from the customs authorities, this code is required by the customs authorities.
Whenever an importer sends money abroad by way of banks, then the banks need this code.
If an exporter wants to send his shipments abroad, this code is required by the customs port.
Whenever an exporter receives money in the form of foreign currency directly into his bank account, then this code is required by the bank.
For obtaining Food Licensing and APEDA Licensing, having IE Code is a must.
Whenever an exporter wants to avail of some export subsidy, then this code is required by the export promotion council.
Benefits Of IEC Registration
Procedure for IEC (Import Export Code) Registration
The Following Listed are the Benefits of IEC Registration:
1.Expansion Of Business:
One of the main benefits of applying for IEC is to expand business opportunities. This can be achieved not only through exports, but also imports into India. Any entrepreneur or company can have seamless experience without any compliance burden.
2.Availing Serval Benefits:
Registering under the IEC system would automatically provide the business with benefits. Any form of compliance related provisions can be adhered by the business. Apart from this, there would be certain schemes which would provide benefits to businesses.
3.No Need to File Return:
No returns are required to be filed under this system. Hence one the code is assigned there is no requirement to prove the certification’s legitimacy by filing of returns.
4.Hassle Free Processing:
The system related to IEC registration is completely online. Hence, processing time would be quick when compared to the offline procedure. Under this system the applicant is provided an OTP number when an initial application for registration is made. Hence through this system, seamless processing times can be achieved.
5.Free For Lifetime:
As per the requirement of the business, this compliance for registration has to be carried out only once. Though a business cannot carry out any activities related to export and import without this license. However, when a business or proprietor takes this license, there is no requirement to renew this license.
6.Authorised by Government:
When carrying out exports from India, products which are shipped would be certified as per the requirements of the DGFT. Hence through this process, increased reputation can be achieved.
Documents To Be Submitted for IEC Registration
Photos Of Applicant
PAN Card of Entity
Cancel Cheque of entity
Cases Where Export Import Code (EIC) is Not Mandatory
According to the latest circular issued by the government, IEC is not mandatory for all traders who are registered under GST. In all such cases, the PAN of the trader shall be construed as new IEC code for the purpose of import and export. Import Export Code (IEC) isn’t required to be taken in case the goods exported or imported is for personal purposes and isn’t used for any commercial purpose. Export/ Import done by the Government of India Departments and Ministries, Notified Charitable institutions need not require getting Import Export Code.
Disclaimer: The materials provided herein are solely for information purposes. No attorney-client relationship is created when you access or use the site or the materials. The information presented on this site does not constitute legal or professional advice. It should not be relied upon for such purposes or used as a substitute for legal advice from an attorney licensed in your state.