Seize Global Business Opportunities with TaxKey: Obtain Your Import Export Code
Just at ₹1180 (+Govt Fee)
Say goodbye to delays and challenges! Choose India’s top company incorporation services provider to swiftly register your business. Subject to T&C*
Still having any queries?
Happy businesses & Clients.
Partnered banks & Government Orgs.
India Registered
Google Ratings
Customer Satisfaction Guarantee
OVERVIEW
IEC REGISTRATION
Every import/export business owner in India needs to have an import export code, which is a special 10-digit code. The Director-General of Foreign Trade (DGFT), Ministry of Commerce, issues the IEC code, which requires neither filing nor renewal. Importers need an IEC Number in order to clear customs, send packages, and send money to overseas banks. To deliver shipments and collect money from international banks, exporters need their IEC Code. In India, importers and exporters cannot conduct business without an IEC Number.
ADVANTAGES
ADVANTAGES OF IEC CODE
- IEC Code can be obtained quickly and easily with only the most fundamental of paperwork.
- The IEC registration enables businesspeople, especially internet retailers, to enter the worldwide market.
- Companies can make use of government programs like the MEIS (Merchandise Export from India Scheme), SEIS (Service Export from India Scheme), and others from customs and export promotion.
- After registration, there are no compliance requirements, making it reasonably easy to maintain the firm.
LICENSE
HOW CAN I REGISTER ONLINE FOR AN IEC LICENSE?
Step 1: Submit all necessary paperwork, including bank account information and a digital signature certificate.
Step 2: The Directorate General of Foreign Trade (DGFT) will receive the online IEC application
Step 3: The import export code will be given to the applicant or the organization as a soft copy when the documents and application have been approved by the authorities.
DOCUMENTS NEEDED
DOCUMENTS NEEDED FOR REGISTRATION OF IEC
The following is a list of the paperwork needed to register for an IEC License.
- PAN card for the business (not applicable in the case of the proprietor)
- PAN and Aadhaar cards of the applicant (driver's license, Aadhaar, and voter ID)
- Certificate of incorporation or Partnership Deed
- Address documentation (energy bill, lease, or office building selling deed)
- Copy of a bank certificate or cancelled check leaf for the current account held in the business's name.
USAGE
USAGE OF DSC
A method for ensuring that a document hasn’t been modified after it was created is with a digital signature. A signer can guarantee that a document is what it purports to be by digitally signing it. A copy of the digital signature certificate must be held by the signer and the recipient for the digital signature to be valid. The certificate is used to confirm the signer’s identity and verify that the signer created the digital signature.
All documents bearing an IEC code must be digitally signed according to Indian legislation. A certificate signed by an authorized representative of India’s National Informatics Centre (NIC) is necessary for documents that contain an IEC code.
CRITERIA
CRITERIA FOR IEC CODE
No matter the size, any type of business registration, including sole proprietorships, partnerships, limited private corporations, and charitable organizations engaged in import and export commerce in India, may apply for an import-export code. For the import/export of products intended for personal use and unrelated to commerce, manufacturing, or agriculture, an IEC Number is not necessary. An establishment of a business is not required.
Exemption from the Import-Export Code
- Individuals undertaking import and export goods in India for private purposes unrelated to business, agriculture, or manufacturing
- The value of each consignment imported or exported by parties or people through China, and the Indo-Myanmar border areas must not exceed US$25000 (via Namgaya Shipkila, Gunji, and Nathula ports).
- According to appendix 3, schedule 2 of the ITC, exports of materials, organisms, special chemicals, equipment, and technology (SCOMET) by central and state government ministries and departments are not excluded from the requirement to get an IEC Code.
Non-commercial PSUs and the categories of importers and exporters listed against them must use the following permanent IEC numbers for import and export purposes.
SNO |
CODE NUMBER |
Categories of Importers / Exporters |
|---|---|---|
|
1 |
0100000011 |
All Central Government Ministries, Departments, and Organizations that are totally or partially owned by them. |
|
2 |
0100000029 |
All Ministries, Departments, and Organizations owned entirely or in part by any State Government. |
|
3 |
0100000037 |
Diplomats, Indian counsellor officers, and representatives of the UN and its specialized agencies. |
|
4 |
0100000045 |
Indians who travel or return from overseas and seek benefits under the baggage rules. |
|
5 |
0100000053 |
Individuals, organizations, or hospitals that are not involved in trade, manufacturing, or agriculture but are importing or exporting items for personal consumption. |
|
6 |
0100000061 |
People who import or export items to or from Nepal |
|
7 |
0100000070 |
People who travel to or from Myanmar via the Indo-Myanmar border regions to import or export goods |
|
8 |
0100000088 |
Foster Foundation |
|
9 |
0100000096 |
Importers who are using the ATA Carnet's provisions to import items for use in or display at fairs, exhibitions, or similar occasions. According to HBPv1 Paragraph 2.29, importers may also use this IEC number when importing for trade shows or other events. |
|
10 |
0100000100 |
Director, National Blood Group Reference Laboratory, Bombay or their authorized offices. |
|
11 |
0100000126 |
Individuals importing items that have been exempted from customs duty under a notification issued by the ministry of finance for legitimate use by victims of a natural disaster, including private individuals, charitable organizations, and registered non-profit organizations |
|
12 |
0100000134 |
Subject to the value ceilings for a single consignment as stated in Paragraph 2.8(iv) above, persons importing or exporting acceptable products from or to China through the ports of Gunji, Namgaya Shipkila, and Nathula. |
|
13 |
0100000169 |
Non-commercial imports and exports made by organizations with Reserve Bank of India authorization (RBI). |
ANNUAL UPDATE
ANNUAL UPDATE OF IEC
Even though there are no changes, all IEC holders are now formally asked to update and confirm their IEC Details via the online system every year from April to June. If you don’t, your IEC will be pulled down and you won’t be able to import or export anything.
The IEC updates that are available on the DGFT portal are listed below.
- New registered address
- Add, change, or removal of Branch Location
- Changing your email and mobile numbers
- Modification of Bank information
- Partners and Directors can Be Modified, Added, or Removed
- Changing the business's focus
IEC MODIFICATION
REQUIRED DOCUMENTS FOR IEC MODIFICATION
Similar to applying for IEC for the first time, updating IEC requires the same paperwork:
- Address Evidence of the Entity (Sale Deed, Rent Agreement, Latest Electricity Bill, Latest Mobile Bill, Latest Landline Bill),
- Cancelled Cheque or Bank Certificate of the Applicant
- Applicant's Photo copy
- Self-Attested copy of Pan Card
When should you surrender your IEC License?
When one closes down his / her Business. When the IEC holder winds up his / her Company. When the IEC Holder sells his / her business of Import and Export Code. When one closes the division of the Import export in the business. However, As The IEC is a ten-digit code granted on the individual PAN or company PAN, One should not surrender an existing IEC number that is not linked with the PAN and apply a new one. As the Importer / Exporter shall not be able to apply again for IEC with the same PAN even if he gets numeric IEC surrendered/canceled.
IEC SURRENDER
DOCUMENTS REQUIRED FOR IEC SURRENDER
Similar to applying for IEC for the first time, updating IEC requires the same paperwork:
- Firm Name
- Original IEC certificate
- PAN Card of the IEC Holder
- Registered Email Address and Password
- Location and Address of the Business
- IEC License Number
- Covering letter addressed to the Additional DGFT
From completing the checklist to processing the documents, Taxkey professionals will assist you through the entire procedure. Our professionals will efficiently and affordably finish the import-export code registration process and will update you on the progress of your application.
How it works
Easy Step Process
We offer consulting services to businesses. Our experts help you achieve your financial goals.
Simplify your finances with TaxKey Accounting's seamless online platform. From registration to personalized financial plans, we're your trusted partner every step of the way.
Experience convenience with our streamlined delivery process. From order to doorstep, we ensure your items reach you swiftly and securely
Need more help?
Testimonials
Our Clients' Reviews
