IEC, LUT, FEMA/FLA in one bundle

Category: Industry Packages. From ₹9,999. Typical timeline: 10–15 days.

Overview

The Exports & Imports Package bundles the registrations every cross-border trading business needs before its first shipment — Import Export Code (IEC) issuance, GST LUT filing so exports move without upfront IGST, and a compliance calendar covering the annual FEMA/FLA return — into a single engagement instead of separate filings spread across DGFT, the GST portal and the RBI.

Who needs it

• First-time exporters/importers who need an IEC before their first shipment
• GST-registered exporters who want to ship without paying IGST upfront via LUT
• Businesses with foreign investment or overseas assets that trigger an annual FEMA/FLA filing
• Import-heavy businesses evaluating EPCG or Advance Authorisation for duty savings

Eligibility

• A registered business entity (proprietorship, partnership, LLP or company) with a valid PAN
• A current bank account in the business's name for IEC linkage
• GST registration already in place, or applied for alongside this package
• Any business planning to import or export goods or services, regardless of scale

Documents required

• PAN and incorporation/registration certificate of the business
• Cancelled cheque or bank certificate for the business's current account
• Digital Signature Certificate of the authorised signatory
• GSTIN (or GST application acknowledgement, if filing in parallel)
• Details of foreign assets/liabilities, if any, for FEMA/FLA scoping

Process

1. Obtain an IEC — A one-time registration with DGFT, required before any import or export shipment.
2. File LUT for GST-free exports — Avoids the working-capital drag of paying IGST and waiting for a refund.
3. Evaluate duty-exemption schemes — EPCG for capital goods or Advance Authorisation for input materials, if your trade volume justifies it.
4. Set up FEMA/FLA tracking — Load the annual return deadline into your compliance calendar from day one.

Government fees

• Import Export Code (IEC) application: ₹500
• GST LUT filing: Nil — no government fee
• FEMA/FLA annual return: Nil — no government fee, RBI portal filing only
• DSC (authorised signatory): ₹1,499

Professional fee

₹9,999 professional fee for the full bundle (IEC + LUT filing + FEMA/FLA calendar setup), in addition to DSC and government charges shown above.

Timeline

10–15 working days from the day we receive complete documents — IEC typically issues within 2–3 working days of DGFT filing, with LUT filed in parallel once GST registration is confirmed.

Deliverables

• Import Export Code (IEC) certificate
• Acknowledged LUT (Letter of Undertaking) for the current financial year
• Digital Signature Certificate for the authorised signatory
• A pre-built FEMA/FLA and LUT-renewal compliance calendar in your client portal

Frequently asked questions

Do I need an IEC if I only import occasionally?

Yes — an IEC is mandatory for any import or export shipment regardless of frequency or value, with limited exemptions for personal-use goods.

How often does LUT need to be renewed?

LUT is filed fresh every financial year — we track this renewal in your client portal so it never lapses mid-year.

Does every exporter need to file an FEMA/FLA return?

Only entities with foreign direct investment or overseas assets/liabilities on their balance sheet as of 31 March need to file the annual FLA return — we confirm applicability during onboarding.

Common mistakes

• Shipping before the IEC is actually issued, which can hold up customs clearance
• Letting LUT lapse into a new financial year and defaulting to paying IGST upfront by mistake
• Missing the FEMA/FLA deadline (15 July) because it is tracked separately from ROC/income-tax due dates
• Assuming EPCG/Advance Authorisation is automatically bundled in — these are evaluated and filed separately based on actual import volume

Penalties for non-compliance

• Shipments can be held at customs without a valid IEC on file
• Paying IGST upfront (with refund delays) for any invoice raised without a valid LUT in force
• Penalty under FEMA for non-filing or late filing of the annual FLA return

Legal references

• Foreign Trade (Development and Regulation) Act, 1992 — IEC issuance framework, DGFT
• CGST Rules, 2017 — Rule 96A (LUT for zero-rated supply without IGST payment)
• Foreign Exchange Management Act, 1999 — FLA annual return requirement, RBI