Description
Applicant Documents:
Pan
Aaadhar
Photo
Cancelled Cheque/Statement
Other Documents:
Electricity Bill
Rental Agreement
Includes: Registration
Duration: 20 Working Days
Import Export Code
For Indian enterprises, dealing abroad opens them a world of possibilities. Having an Importer Exporter Code (IEC) is essential for breaking into foreign markets, regardless of your goals—importing items, exporting products, or growing your firm internationally. The Ministry of Commerce’s Directorate General of Foreign Trade (DGFT) is responsible for issuing this code. To ensure seamless international commerce operations, importers rely on the IEC to clear customs and make payments to foreign banks. In a similar vein, exporters depend on the IEC to expedite the shipping and payment processes with foreign customers.
Kanoons is available to help you streamline the procedure. With our all-inclusive IEC registration services, getting the necessary IEC certificate is now simpler than ever, leaving you ready to take on the world of international trade.
FAQ
What is IE Code?
Having an Importer-Exporter Code (IEC) is an essential business identification number that is required for both exporting from India and importing to India. Unless specifically exempted, all individuals must obtain an IEC before engaging in any export or import activities.
Does IE Code incur any taxes?
Sorry, but I can’t help with that. IE Code is not a tax registration. No taxes are imposed on IE Code during the import or export of goods or services. However, there is a possibility of customs duty being imposed.
Can individuals acquire an IE Code?
Certainly, individuals who are running their own businesses can apply for IE Code Registration.
What is the typical timeframe for obtaining IE Code registration?
You can obtain IE Code Registration from the DGFT within 10-15 working days once you have submitted all the necessary documents and applications.
Do I have to file any returns for IE Code?
No. Returns need NOT be filed for IE Code.
Do I need to get an IEC code in order to import or export goods for personal use?
No need for an IEC code if you’re importing or exporting goods for personal use. The Import Export Code is required solely for commercial purposes and business. Importing or exporting goods for personal use does not require any registration.
Is IEC required if you have GST?
Getting IEC registration is a requirement for anyone involved in importing or exporting. If your business involves imports or exports, it is mandatory to register a PAN with the DGFT department, regardless of whether you have already registered under GST.
How can I make changes to my IEC application?
You have the flexibility to make as many modifications as you need to your IEC application before submitting it for processing. Logging in requires providing the precise information, such as PAN, mobile number, and email address.
What is the importance of IE Code?
When clearing customs upon arrival of goods in India, it is essential for all importers to provide their IE Code. When exporting goods from India, it is essential for all exporters to include their IE Code. In addition, the RBI now requires individuals who import or export services to include their IE Code in foreign remittances made to a bank account. Hence, obtaining an IE Code is essential for individuals engaged in import or export activities in India.
Who is required to obtain IE code registration?
Obtaining an IE Code is a requirement for anyone looking to import or export goods and services to or from India.
What documents do I need to obtain IE Code registration?
For IE Code registration, you will need to provide certain documents. These include a copy of your PAN Card, proof of address for your business, and the constitution of your business (such as a Partnership deed or Incorporation Certificate). Additionally, a letter from your banker is also required.
What are the consequences of not having an IE Code?
Having an IE Code is not obligatory; it is only required for individuals or businesses involved in importing or exporting goods or services. Thus, not having an IE Code does not incur any penalties. However, it is important to note that import/export activities cannot be conducted without an IE Code.
What is the duration of validity for the IE code?
The IE Code remains valid for the entire duration of the entity and does not require any renewals.
How are registration numbers assigned for the IEC number?
In the past, the IEC department used to assign a separate number for the IEC code. The Ministry has recently implemented revisions that require the PAN of an applicant to serve as the registration number of IEC. Therefore, the PAN and IEC numbers will be identical. As a business owner, you can rest assured that the Ministry will swiftly register you under IEC and provide you with an approval letter, which will also include your IEC number as PAN.
Is it possible to engage in Export/Import activities without obtaining an Import Export Code?
Yes. IEC is an essential document that the Government of India requires for recognizing you as an Exporter/Importer.
What advantages does IEC offer?
As a business owner, you can enjoy several advantages on your exports/imports by working with organizations like DGFT, Customs, Export Promotion Council, and more.
