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ICE Import Export Code Registration

Introduction

Import Export Code, which is commonly abbreviated as IEC is the first registration required for the business entities who are dealing in Importing or exporting of goods and services from India. IEC is issued by the Directorate General of Foreign Trade (DGFT). It is a passport for import and export business.

Ten digit IEC number allotted by DGFT is a mandatory registration for commercial importers and exporters in India. Apply online and get your IEC registration in less than three days.

Eligibilty for IEC Code Registration

Any type of business registration: sole proprietorship, partnership, private limited companies, charitable organizations dealing with import and exports of goods can register for import-export code, irrespective of the size. However, an IEC is not required for import/export of goods for personal use, which are not connected with trade, manufacture, or agriculture. There is no need for a business set up.

DOCUMENTS REQUIRED FOR IMPORT EXPORT CODE

1. Passport Size Photograph.

2. PAN Card.

3. Bank Account Details.

4. Pre Printed Cancel Cheque.

5. Certificate from Bank.

6. Address Proof.

Features of the Import Export Code(IEC) Registration

International Exposure : IEC Code helps you to grow your business from local market to international market and expand your product or service across the global.

Government Benefits : Govt of India always promote the export activity in india so through IEC Code Registration you can avail all the export scheme benefits from DGFT, Customs and Export Promotion Council.

No Renewals : IEC Code issued by the DGFT for the lifetime validity so you have not required renew every year so its a just one time cost of the registration.

No Annual Compliance : IEC Code have no annual compliance like returns filings etc. Even you have not show anywhere the transactions.

Individual person : IEC Code can be obtain by the individual person also, they have not required to register the legal entity.

BENEFITS OF IEC

  • Open International Market IEC helps you in taking your organization and products to the worldwide market and develop your organizations. You can also sell your products on international platforms.
  • Product scaling and Increased Revenue there will be a vast increase in the revenue of the organization.
  • Several benefits are availed the organization and various companies can avail several benefits from DGFT, customs, etc as per the IEC registration. On Exports the organization can claim tax benefits as well.
  • Filing of return is not required IEC does not require the recording of any profits. When allocated, there isn't any necessity to pursue any kind of procedures for supporting its legitimacy. Notwithstanding for fare exchanges, there isn't any necessity for recording any profits with DGFT.
  • Easiest procedure It is genuinely simple to acquire IEC code from the DGFT inside a time of 10 to 15 days subsequent to presenting the application. There isn't any need to give a proof of any fare or import for getting IEC code.
  • No need of any renewal IEC code is successful for the lifetime of a substance and requires no recharging. It could also be utilized by a substance against all fare and import exchanges.

    • FAQ’s

    What is IEC?

    A. IEC Stands for IMPORTER EXPORTER CODE Legal Provisions As per section 7 of Foreign Trade (Development and Regulation) Act, 1992 Importer-Exporter Code Number – “No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General.

    A. No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer.

    A. On the basis of IEC License, companies can obtain various benefits on their exports/ imports from DGFT, Customs, and Export Promotion Council etc.

    A. Normally two working days for processing. For cancellation of IEC 15 working days.

    Any person or business type who intends to import or export goods and services from or to India must require an Import Exports Code.

    Any individual involved in the import and export of goods or services for the purpose of conducting business can make IE Code application. They can obtain the IE code by filing an online application accompanied with required documents. In case the person does not have a current account for the business, he/she may provide canceled cheque of the savings account for the purpose of filing IE code application.

    18 + years above age any person can become director in a company.

    Import Export code is allotted with lifetime validity and therefore it does not require any renewal.

    18 + years above age any person can become director in a company.

    No, there is no compliance to be fulfilled after the import-export license registration is obtained.

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