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Import Export Code (IEC)

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

Talk to an expert for Free: 70661 55000

Import Export Code (IEC)

  • SureTax Fincare simplifies the process of Registration, Compliance & Management of your business, by making it more convenient than ever.
  • Completely online, Quick & Hassle free process – Our Services can be availed from any Location in India or Abroad.
  • Our team of CA-accredited professionals provide expert guidance throughout every stage of the process

Talk to an expert for Free: 70661 55000

Overview

✔ The IEC (Import Export Code) Registration is a 10-digit code issued by the Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India.

✔ It is required for individuals or companies to import or export goods and services in India. The code acts as a proof of a registered business engaged in international trade.

FEATURES OF IEC

Unique 10-digit code:

The IEC is a unique 10-digit code assigned to each registered entity.

Permanent validity:

The IEC is valid for the lifetime of the business, unless the business is closed or the IEC is surrendered.

Pan-India validity:

The IEC is valid for all customs locations in India, allowing for import/export operations from any port.

Transferability:

The IEC can be transferred from one entity to another, as long as the transfer is approved by the DGFT.

Required for various transactions

The IEC is required for various transactions related to import/export, such as opening a Letter of Credit and claiming benefits under government schemes.

Digital format:

The IEC is now available in a digital format, making it easier to access and verify.

Updateable:

The IEC details can be updated as required, such as change of address or bank details.

Document Requirement

Required in Soft Copy Only

Documents of Individual

  • PAN & AadharCard
  • Email id and Mobile Number
  • Bank Details
  • Address Proof (owned) ( Electricity Bill / Water Bill / Property Tax / Driving Licence)
  • Address Proof (Rented) ( NOC / Rent Agreemet)
  • Colour Photo
Required in Soft Copy Only

Other than Individual

  • PAN Card of Business
  • Mobile No. & Email ID
  • Bank Details
  • Address Proof (owned) ( Electricity Bill / Water Bill / Property Tax / Driving Licence)
  • Address Proof (Rented) ( NOC / Rent Agreemet)
  • Color Photo of Authorised Signatory
  • Partnership deed/ Certificate of Incorporation, MoA & AoA / LLP Deed

Frequently Asked Question

No, IEC is a mandatory registration for every importer/exporter of goods & services.
Only 1 IEC can be issued against a single PAN. Such single IEC is valid for multiple branches/divisions of the business entity. If more than 1 IEC are wrongly issued, the entity should surrender the duplicate IEC to the jurisdictional Regional Office.
IEC code is a permanent registration which is valid for lifetime. It is valid until the business exists or registration is surrendered/revoked. No returns are to be filed in respect of IEC. But from F.Y.2021-22, it has been made compulsory to update details of IEC online once in every year.
Yes, IEC is PAN based. As such, IEC can be allotted to any individual/HUF/Trust/Partnership/LLP /Company.
Following category of persons are exempted from obtaining an IEC:

Import and export by central government/state governments or agencies or undertakings for defense purposes Import or export of goods for personal use.
Individuals who export/import goods to/from Nepal and Mynamar through Indo-Myanmar border areas and China (through Gunji, NamgayaShipkila and Nathula Ports) where single consignment does not exceed Rs. 25,000.
However, all PSUs which have obtained a PAN will be required to obtain IEC for any export/import.
If an IEC holder does not wish to operate allotted IEC number, he may surrender the same by informing the issuing authority i.e. jurisdictional regional office. On receipt of such intimation, the Issuing Authority shall immediately cancel it and electronically transmit it to DGFT and customs authorities.
RCMC is a “Registration-cum-Membership Certificate” issued by the Export Promotion Council body under the Government of India. Only persons holding IEC may apply for RCMC registration. This certificate is issued for 5 years by Export Promotional Councils or Commodity Board of India relating to that line of business.
RCMC is required for businesses that deal with export of restricted products and those seeking concessions under Foreign Trade Policy.
A class II DSC is used to sign an application for registration of IEC.

Yes, there are further legal compliances to be fulfilled after obtaining IEC (Import Export Code) Registration:

 

GST (Goods and Services Tax) Registration: If the business is involved in the supply of goods or services, GST registration may be required.
FSSAI (Food Safety and Standards Authority of India) Registration: If the business is involved in the export of food items, FSSAI registration may be required.
DGFT (Director General of Foreign Trade) Declaration: An annual declaration must be submitted to the DGFT, declaring the company's import/export transactions.
Customs Declaration: A customs declaration must be submitted for each import/export transaction, declaring the details of the goods or services being traded.
Compliance with Foreign Trade Policy (FTP): The business must comply with the provisions of the Foreign Trade Policy, including the requirement for maintaining export-import data and obtaining licenses for restricted items.
No penalty is imposed for not having IEC registration. However, the only consequence is that you will not be allowed to carry out foreign trade through import and export of goods and services if you have not obtained the IEC registration.

An application for IEC (Import Export Code) Registration can be rejected on the following grounds:

1Incorrect or false information: If the information provided in the application form is incorrect or false, the application may be rejected.
 
2Incomplete application: If the application is not complete, with missing or inadequate information, it may be rejected.
 
3Prohibited activities: If the business activities are restricted or prohibited under Indian laws, the application may be rejected.
 
4Lack of PAN or bank account: If the applicant does not have a PAN (Permanent Account Number) or a bank account in the name of the business, the application may be rejected.
 
5Non-compliance with FTP (Foreign Trade Policy): If the business does not comply with the provisions of the Foreign Trade Policy, such as obtaining licenses for restricted items, the application may be rejected.
 

 

Yes, after filing an online application for IEC registration, a Certificate of IEC registration is issued in the digital format and not issued in the physical form.

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