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Import Export Code Registration

Need to register import export code?

Import Export Code Registration Starting at Just Rs.2,999/- (Inclusive of all Govt. Fees).

About Import Export Code Registration

Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and doesn't require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.

IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 - 20 working days or less.

Taking your product or services to the international market will expand your businesses. But visualizing an import/export operation itself can be difficult for an uninitiated person, and her job is made more difficult by the various commercial jargons and legal procedures that international trade has. In this present article we shall deal with a small part of import and export, called Importer Exporter Code.

HIGHLIGHTS OF Importer Exporter Code

All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad.

All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.

IE Code is issued for the lifetime of the entity and requires no renewal. So once a IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.



IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.

Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.

IE Code can easily be obtained from DGFT within 10-15 working days after submission of the application along with all the necessary information. It is not necessary to show proof of any import or export to obtain IE Code.

Importer Exporter Code Process

Application Preparation

An Businessgig Tax Expert will prepare your IE Code Application in the prescribed format along with the necessary supporting documents and obtain your signature in the application.

Application Processing

Once the application is prepared, Businessgig will submit the IE Code Application to the Directorate General of Foreign Trade for further processing and allotment of IE Code.

IE Code Allotment

Once the application and the attached supporting documents are verified, the Directorate General of Foreign Trade will allot an IE Code for your business.


Success is focusing the full power of all you are on what you have a burning desire to achieve.

IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, and Government of India to Indian Companies.

Full Form of IEC Code is: “Importer Exporter Code”. To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number.

Directorate General of Foreign Trade (DGFT) issued a Policy Circular No.15 (RE-2006)/2004-2009 Date: 27th July, 2006) for New System for issuance of Importer-Exporter Code Number.

Eligibility condition and Legal Provisions are given for IEC Code Number Application in Foreign Trade (Regulation) Rules, 1993 Ministry of Commerce, and Notification No. GSR 791 (E), dated 30-12-1993.

Mandatory Requirements to apply for IEC Code Number

 


Mandatory Requirements to apply for IEC Code Number

  • PAN Number
  • Current Bank Account
  • Bankers Certificate
  • IEC Code Number Application Fee Rs 250.00 (Expert TIP : Pay via EFT (Electronic Fund Transfer ), and submit IEC Online Application form, If you wish to receive IEC Number instantly)
  • The physical application containing required documents should reach DGFT RLA concerned within 15 days of its online submission.
  • E-mail is not mandatory. If it is provided it will facilitate faster communication.

Check List of Documents to apply for IEC Code

  • Covering Letter on your company's letter head for issue of new IEC Code Number.
  • Two copies of the application in prescribed format (Aayaat Niryaat Form ANF 2A
  • Each individual page of the application has to be signed by the applicant.
  • Part 1 & Part 4 has to be filled in by all applicants. In case of applications submitted electronically.
  • No hard copies of Part 1 may be submitted. However in cases where applications are submitted otherwise, hard copy of Part 1has to be submitted.
  • Only relevant portions of Part 2 need to be filled in.
  • Rs 250.00 Bank Receipt (in duplicate)/Demand Draft/EFT details evidencing payment of application fee in terms of Appendix 21B.
  • Certificate from the Banker of the applicant firm in the format given in Appendix 18A.
  • Self-certified copy of PAN issuing letter or PAN (Permanent Account Number) Card issued by Income Tax Authority.
  • Two copies of passport size photographs of the applicant duly attested by the Banker of the applicant.
  • Self-addresses envelope with Rs.25/- postal stamp for delivery of IEC certificate by registered post or challan/DD of Rs.100/- for speed post.

Procedure for obtaining IEC

An application must be made in the Aayaat Niryaat Form 2A (ANF 2A) format to the Regional Authority of the Directorate General of Foreign Trade (DGFT) in the region where the registered office of the company is situated.

Following documents are required for obtaining new IEC:


Sr. No. Documents For Proprietorship For Partnership For Private Ltd./ Ltd.
1 PAN Card Personal PAN Card Company’s PAN Card Company’s PAN Card
2 List of Partners/ Directors Residential address, Pin Code, Phone Number, Father’s Name Residential address, Pin Code, Phone Number on letter head. List of Directors with, residential address, Pin Code, Phone Number on letter head.
3 Memorandum and Articles of Association N.A. Partnership Deed-duly notarized, copy duly self-certified. MOA
4 Current Account Any National / International Bank
5 Bank Certificate As per Appendix attached
6 Photographs (Passport Size) 4 Nos. Any one of Signing Authority – (4 Nos.) Any one of Signing Authority – (4 Nos.) with mobile number
7 Company’s Letter heads Two Nos. Two Nos. Two Nos.
8 Phone and E-mail Applicable
9 Type of Exporter Merchant/Manufacturer/Service/Other/Merchant cum Manufacturer (if manufacturer, SSI(MSME)/IEM/Ind.Licence)
10 Date of formation of company As per Pan Card As per Deed agreement As per Registrar Of Companies

The DGFT has provided online filing facility for obtaining IEC and other authorizations. Form ANF 2A requires basic details of the business and its proprietors, partners or directors (as applicable), bank account details and a bank certificate (where the business has an account) stating the period for which the business has an account with the bank.

One thing to be kept in mind is that the Permanent Account Number (PAN) is pre-requisite for grant of an IEC. And only one IEC can be issued against a single PAN.

The IEC issued is valid for all the branches or factories of the importer/exporter, as the case may be. Applications winch are complete in all respects are normally disposed of within two days. For practical purposes, you can provide for a week’s time (after factoring in the time required to make any changes in case your initial application is incomplete in some respect).

FAQ

What is IE Code?

IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.

Why is IE Code required?

All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.

Is there a tax levied based on IE Code?

No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied.

Who must obtain IE Code registration?

Any person who proposes to import or export goods and services from or to India must obtain IE Code.

Can individuals obtain IE Code?

Yes, individuals acting as Proprietors of a business can obtain IE Code Registration.

What are the documents required for IE Code registration?

To obtain IE Code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a letter from the banker is required

How long does it take to obtain IE Code registration?

IE Code Registration can be obtained from the DGFT in 10-15 working days after submission of all required documents and application.

What is the penalty for not having IE Code?

IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code.

Do I have to file any returns for IE Code?

No. Returns need NOT be filed for IE Code.

How long is the IE Code valid for?

IE Code is valid for life-time of the entity and renewal is also not necessary.

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