Overview

If you wish to import and export of goods then you must know about IEC registration and in case you are an existing importer and exporter, then you must have IEC code. IEC stands for Import Export Code. IEC registration is necessary for entering in integration market.

IEC registration, also recognized as Importer Exporter Code registration, is very crucial for any individual or business, wishing to engage in import or export activities in India. IEC has a unique 10-digit code having lifetime validity, issued by the Director General of Foreign Trade (DGFT) is essential for customs clearance, opening a foreign exchange account, complying with foreign trade policies and regulations, avail various benefits and incentives provided by the government for exporters and establish the credibility in the global market.

The process of obtaining an IEC registration consists the following such as submitting an online application along with supporting documents, then it is followed by verification and approval by the concerned authorities. We will explore more of it in details in the blog, let’s continue to read about IEC registration fees, process, document requirements and more. IEC registration opens up the wide street for different businesses to participate in global trades. It is a strategic move for the business to expand it globally.

Why

1. Unlocks Global Market: - As IE code/registration is required to start the import and export from India and with the help of this you can also expand your business globally. IEC allows to access the international markets for the business trade. 

2. Lifetime Validity: - Once you obtain the IEC code, it has lifetime validity and can be used for multiple import and export transactions. Therefore there is no requirement to update or renew of IE code.

3. Prohibits Illegal transport of Goods: - It is one of the most basic points of registration for the IEC, in order to stop the illegal practice of importing and exporting goods, IEC plays vital role. If you have an Import-Export code, it means you have provided authentic information and you are authorized by Government to import and export of products.

4. Government schemes: - IEC does not only come up with the authority of import and export, apart from this, it carries plenty of benefits for importers and exporters. If any business or entity is registered and carries IE code then it can be entitled to get government subsidies, Duty drawback, export promotion capital goods scheme and export subsidies.

5. Enhance Credibility with Brand Building: - IEC adds more trust and credibility of your business in the international market among international trading partners. Ultimately it enhances your number of sales and customers, because of an authorized importer and exporter from India. Therefore, organizations must prioritize IEC registration as a fundamental step for increasing their global competitiveness and ensuring compliance with international trade regulations

Process

1. The procedure of online IEC (Import Export Code) is mentioned below step by step: -

2. Visit the official website of DGFT for IEC registration in India.

3. Login on the porter by creating your account, you need to provide basic details such as name, address, email and phone number.

4. After you have successfully created account, now login using your registered mobile number or email ID.

5. Now you need to file online application for IEC registration, where you have to enter your necessary details and submit all the required documents along with the application.

6. Pay the required fee for the IEC registration.

7. After submitting the application successfully, you can track the status of the application, after the IEC is issued, you will receive it on your registered email ID.

Documents

There are various documents required for the IEC registration, make sure you have all of the mentioned below documents ready for successful registration:

1. Proof of establishment, incorporation, or registration certificate

2. PAN Card

3. Bank certificate or canceled cheque

4. Valid Address Proof such as rent agreement, lease document or utility bill, etc.

5. Digital-sized photograph of the authorized persons

6. Letter of the Authorization

7. GST certificate (if any)

Note:- Address might be verified physically by the DGFT before issuing IEC. 

Fee

A brief information about the fee for fresh IEC registration and any modification in the IEC profile is given below:- 

1. The government fee for the fresh IE code registration is Rs. 500/-.

2. In case of any modification and amendments in your IEC profile, the fee is Rs. 200/-. 

Note:- Updatation of IEC is mandatory every year.

Timeline

To be updated.

FAQs