What is an Importer-Exporter Code (IEC)?
 

An Importer -Exporter Code (IEC) is an identification number which comprises of 10 digits of alpha numeric code, it is compulsory for imports and exports to and from India. No business shall export or import without acquiring an Import Export Code unless indicatively absolved. This code can also be obtained by applying online on the DGFT website. It has a lifetime validity. Any person intending to extend their business globally has to mandatorily obtain this code. Whenever an importer has to clear his shipment at the customs this code has to be submitted, it is also necessary when an importer receives or an exporter sends money from foreign countries.

The only requirement for an Import Export Code is a business that wants to expand its operation globally and engage in the import and export of goods and services.

List of Documents required for the Registration
 

• A copy of company’s PAN Card
• A copy of Aadhar card, voter Id and passport 
• Proof of company’s current bank accounts
• Rental agreement and utility bills of the business premise
• Address of the business premise for delivery of IEC certificate

What is the procedure for registration?
 

• Enter the DGFT website.
• Choose the ‘Services’ tab in the homepage.
• A drop-down would appear in which select the IEC Profile Management option. 
• It will take you to a new page, in this page select the ‘Apply for IEC’ option.
• Choose the ‘Register’ option. A series of details have to be filled in and ‘Send OTP’ button has to be clicked.
• The OTP would be sent, post entering the OTP, click on the ‘Register’ button.
• On validation of OTP, applicants will receive a notification with a temporary password which can be changed after logging into the website.
• After completion of registration on the website, the user has to login to the website using the registered user name and password.
• Upon login, choose the ‘Apply for IEC’ option on the website.
• On choosing the option an application would appear, fill the application form (ANF 2A format), upload the above-mentioned documents, pay the prescribed fees and select on the ‘Submit and Generate IEC Certificate’ option.
• A code will be generated by the DGFT. A printout of your certificate can be taken once the IEC code is generated

What are the advantages of registration?
 

• IEC assists in expansion of your services or product to the world market and improving your businesses.
• The Companies can avail various benefits of imports/ exports of the DGFT, like export promotion council, etc.
• The trader possessing IEC code needn’t file for IT. Once the code is allotted, there is no requirement of any sort of process for sustaining its validity. No returns are required to be filed for the export transactions also. 
• It is easy to procure an IEC code from the DGFT website. It could be obtained within a period of 10 to 15 days of submitting the application. The applicant is not even required to provide proof of any export or import transactions for obtaining an IEC code.
• An IEC code has perpetual validity. It is effective as long as the entity exists and requires no renewal. After it is procured, it can be utilized by the entity for all export and import transactions.

• According to the updated notification of the government, IEC is not required for all traders registered under GST. In all the cases where the trader has GST, the PAN card of the trader will be considered as IEC code for the import and export purposes. 
• Import Export Code (IEC) is not required in cases where the goods are imported or exported for personal use and not for commercial purpose. 
• Export/ Import done by the Government of India Departments and Ministries and the Notified Charitable institutions also don’t require IEC.

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