Introduction:-

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. Import Export Code is a 10-digit code which has a lifetime validity. No export or import shall be made by any person without an IEC number unless specifically exempted. 

How To Obtain IEC Certificate:-

With te ease of doing business the government has simplified the process for obtaining the IEC certificate. For obtaining the license we have to follow the following steps:-

1. We have to go on the link  www.dgft.gov.in.
2. Then in the service tab we have to click on the online IEC application.
3. Once the application is opened we have to fill the Pan Details of the applicant along with the mobile number on which an OTP will be received.
4. In the next step an Application for applying the IEC code will be open, there we will have to fill the requisite information (along with the necessary documents to be uploaded).

Note:- After filling and updating the application the entity/proprietorship has an option to fill its branch details (if any) as the second alternative for import and export code.

Fees and Mode of Payment

Fees:- Legal fess for applying IEC certificate is Rs. 500 (Can be changed by the authorities from time to time).

Mode of Payment:-  You can make the payment by using any the Debit/ Credit Card or can be by Net Banking or Wallets payment facility is also available.

Documents Required To Submitted Along With The Application:-

• The applicant should have a PAN Card.
• He should have a Current or Savings bank account in a bank which deals in Foreign Exchange.
• He should have sale deed, rental/lease deed, electricity/phone bill for address verification
• If an applicant is Non-Resident Indian (NRI) or there is Non-Resident interest in the firm/company they are required to submit the scanned copy of RBI approval letter.
• He should have an email-id and mobile number linked with adhaar card.
• He should have a Cancelled Cheque with Entity’s or Individual’s name pre-printed on it OR he should have Bankers Certificate in the prescribed format

Generation of IEC Certificate:-

Once the aplication is submitted along with the requisite documents in support and after the payment of requisite fees, the option of print and preview of the application to be submitted is enabled.

After reviewing the application the final submission is to be made and then IEC Certificate is generated.

Categories Exempted For Obtaining IEC:-

1. Importers covered by clause 3 (1) [except sub-clauses (e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of the Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
2. Ministries/Departments of the Central or State Government.
3. Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
4. Persons importing/exporting goods from/to Nepal provided the CIF value of a single consignment does not exceed Indian Rs.25,000.
   Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas provided the CIF value of a single consignment does not exceed Indian Rs.25,000.

Benefits of IEC Registration:-

• Business expansion:

Registering for Import Export Code will help you in expanding your business and reaching out to a larger market on a global scale, thereby helping your business to grow by leaps and bounds.

• No return filing: 

Registering for Import Export Code will mean that you need not file any returns. Once the code has been allotted to you, you will not be required to follow some kind of process to ensure that its validity is sustained.

• No requirement for renewal:

 The validity of an Import Export Code lasts until the entity exists.

• Simple processing: 

Obtaining an Import Export Code from the Director General of Foreign Trade is fairly simple. Applications are usually processed within 10 to 15 days once submitted.

• Other benefits:

Companies that register for Import Export Code could make the most of several other benefits offered by customs, the Export Promotion Council, and the Director General of Foreign Trade.