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Importer/Exporter Code

Importer/Exporter Code (IEC) is a 10 digit business identification number which is mandatory for exports and imports.IEC Licence granted by Directorate General of Foreign Trade, Ministry of Commerce and Industry, Government of India https://dgft.gov.in

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How to get Importer/Exporter Licence?
Tax my Tax helps to get your Importer/Exporter code in three simple and quick steps
Step 1: Online support

One of our team support you to know about the concept of IEC code and the documents require for registration

Step 2: Docs submit and upload

Submit the documents and then we upload the forms.

Step 3: Certificate/Licence

We follow up with the DGFT to get your IEC code and repond to their query, if any.

General Overview and Concept

The first requirement before you start an import/ export business in India is to obtain an IEC. An IEC is necessary for import/export of goods. IE Code  is one time permanent registration which is valid until the business exists or the registration is revoked or surrendered. Hence, there will be no worry for updating, filing and renewal of IE Code registration. 
The nature of the firm obtaining an IEC may be any of the follows- "Proprietorship, Partnership, LLP, Limited Company, Trust, HUF and Society." Consequent upon introduction of GST, IEC number is the same as the PAN of the firm. The IEC would be separately issued by DGFT.

IE Code Exemption

The following category of persons are exempted from obtaining an IE Code:
  1. Importers who are covered by clause 3(1) [except sub-clauses (e) and (l)] and exporters who are covered by clause 3(2) [except sub-clauses (i) and (k)] of the Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
  2. Ministries or Departments of the State or Central Government.
  3. Persons or entity is importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
  4. Persons importing/exporting goods from and to Nepal provided that the CIF value of a single consignment does not exceed Rs.25,000.
  5. Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas provided that the CIF value of a single consignment does not exceed   Rs.25,000.
However, the exemption from obtaining Importer-Exporter Code (IEC) number is not applicable for the export of Special Chemicals, Organisms, Materials, Equipment and Technologies.

Benefits of IE Code 

The following are the benefits of registering for Import Export Code:

Business Expansion: Registering for Import Export Code will help you in expanding your business and reaching out to a larger market on a global scale, thereby helping your business to grow.

No return filing: Registering for Import Export Code will mean that you need not file any returns with the Director General of Foreign Trade.
 
Online Registration: Online Registration of IE Code reduce the legal compliances and made the process more faster.

Other benefits: Companies that register for Import Export Code could make the most of several other benefits offered by customs, the Export Promotion Council, and the Director General of Foreign Trade.

Documents required to get IE Code

Following documents are required to get the Importer/ Exporter Code
  1.  Scanned copy of company’s or firm’s or proprietor’s PAN card.
  2. Scanned copy of  passport or Aadhaar card or Voter’s ID of the individual.
  3. Scanned copy cancelled cheque of the current bank account of the firm or company or proprietor.
  4. Scanned copy of premise’s electricity bill or rent agreement.

Need of IE Code

The following are some situations when you need Importer/ Exporter Code.
  1. When importers have to clear their shipments from customs, the customs authorities will ask the importers for an Import Export Code.
  2. When importers send funds overseas via banks, the bank will ask the importer for an Import Export Code.
  3. When exporters have to send their shipments, the customs port will ask the exporter for an Import Export Code.
  4. When exporters are paid in foreign currency and the money is transferred directly into the exporter’s bank account, the bank will ask the exporter for an Import Export Code.

FAQ's

How can I get IEC code for private limited company?

With the following documents you get the IE Code 1. Passport size photograph of the applicant. 2. Copy of Permanent Account Number PAN Card (personal) 3. ID proof (passport / voter id / driving license / Aadhar card) 4. Bank certificate OR cancelled cheque that has the printed name of applicant and bank a/c number.

How many IEC do you get?

Authority will issue only One IEC against a single PAN (i.e. One PAN = One IEC). Any proprietor can have only single IEC number. Incase there are more than one IEC’s allotted to a proprietor, the same may be surrendered to the Regional Office for Cancellation.

Is there any tax on IEC?

No, there is no tax on IEC. However, you have to pay custom duty, which depends on the category of the products imported or exported.

Is there any penalty on not having an IE code?

There is no penalty on not having an IE code but import and export is not possible without an IE code.

Who issues an IEC?

IEC is issued by Directorate General of Foreign Trade and its regional offices established all over India.

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