India's import/export business owner needs an import export code, which is a unique 10-digit code. The code is given by the Ministry of Commerce's Director-General of Foreign Trade (DGFT) and does not require filing or renewal. Importers need IEC to clear customs and transfer money to foreign banks.
Exporters must have an IEC to send shipments and receive funds from international banks. In a nutshell, no importer or exporter can do business in India without obtaining an IEC.
1. The IEC registration allows traders to enter the worldwide market by registering with online e-commerce operators.
2. Customs and export promotion programs are available to businesses, such as the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS).
3. Because there are no compliance obligations after registration, running a firm is relatively simple.
4. The procedure for acquiring IEC is simple and may be completed with only a few essential documents.
You must complete the following basic IEC registration requirements to obtain your import export license online.
Submit all relevant documents, including bank account information and a DSC.
Submit the online IEC application to the Directorate General of Foreign Trade (DGFT).
After the authorities have reviewed the documents and application, the entity will be given a copy of the import/export code in soft form.
• PAN and Aadhaar card of the applicant (driver's license/Aadhaar/voter ID)
• The company's PAN card (not applicable in case of the proprietor)
• Certificate of incorporation (In case of company)
• Partnership deed ( In case of partnership firm)
• Proof of address (electricity bill, rent agreement, or office location selling deed)
• Copy of a cancelled cheque leaf/banker certificate for the company's current account
• We'll keep informing you of the progress of your application.
• Our professionals will finish the import export code registration process quickly and efficiently.
• With us, the whole process took about 7-10 days.
• We will guide you through the process of getting your import export license online.
The director-general of international trade, department of commerce, the government of India issued an import export code, which is a 10-digit number. It is a need for traders who are importing or exporting goods and services to or from India.
Any person or company involved in the international trading of goods and services must have an IE code.
It is important to note that the IE code is not a tax identification number. Customs duty under custom act applied, depending on the commodity.
Anyone functioning as a sole proprietor of a business can register for an IE code.