Import Export Code ( in short IEC ) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export.
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Import Export Code ( in short IEC) is a ten digit number granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export.
1) Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India.
2) IE Codes when issued can be used by the entity throughout its existence and doesn’t require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
3) There is no compliance requirement for IE Code.
4) IEC once issued it is issued for lifetime and there are no renewal fees for IEC registrations.
5) IEC is mandatory if you are dealing in export and import.
> PAN of Company/LLP/ Proprietor
> Certificate of Incorporation, if any
> Proof of identity (PAN)(Authorised Person)
> Proof of address (Aadhar/Passport/Electricity Bill)( Authorised Person)
> Address proof of registered office (Electricity Bill/Rent Agreement/Lease deed)
> Cancelled Cheque
Make an online application with DGFT Department
Verification of details provided in an application by the authorities
Uploading of various documents with DGFT Department
Payment of fees
Approval of application and issuance of IE Code
1. India has a policy, exports the goods and not the taxes and therefore aligns various export incentives.
2. IE Code can help to claim refund of various taxes paid while exporting of the goods.
3.In many cases government even waive the import duty if the same goods are exported within the certain time frame.