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Import Export Code (IEC) Registration
To do business globally some several laws and procedures are required to be followed. They help you get different licenses and registration. The import-export code or IEC is one of the licenses that is needed when you want to import or export from India. IEC is also known as the importer-exporter code. It does not need renewal that means it is issued for a lifetime.
At our company, we believe in providing services not only for domestic businesses but also for businesses that are growing beyond the domestic market.
Importance of IEC or Import-Export Code
Import-Export code license is needed by an individual who is going to start his or her business of export or import in a country. Directorate General of Foreign Trade or DGFT issues it. It contains 10- digit code. Import-Export Code is important as importers shall be able to import goods with it. Similarly, the exporters also will not be able to avail benefits to get an export scheme from DGFT without IEC. Therefore, we can say that Import-Export Code is required by the following people-
- Importers from custody authority who need it for clearing shipments.
- By an exporter for sending shipments by customs port.
- By an exporter who is receiving money in a foreign currency directly to his account.
- By people who need to avail benefits on import and export of goods from Customs or Directorate General of Foreign Trade etc.
Documents required for registration
- PAN card copies of the company, firm or individual.
- Aadhar card, voter id passport of an individual.
- Cancel cheque copies of the current bank account of companies, firms or individuals.
- Copies of electricity bill or rent agreement of the premises.
- Also, for delivering the ICE certificate by a registered post, a self-addressed envelope is required.
Steps in applying for IEC
- Application form- The first step is to prepare an application form in a detailed format. That is the ANF-2A format or Aayaat Niryaat Form and file concerning the regional office of DGFT.
- Documents- The next step is to prepare the required documents. This is concerning your legal entity or identity and also address proof along with your bank details. In addition, a certificate concerning ANF2A.
- Filing Application- After your application is complete, you need to file it with DGTA through a digital signature certificate or DSC. After this, you need to pay the required amount for registration.
- ICE code- The last step is receiving the IEC code. After your application has been approved the government will send you a soft copy of your IEC code.
Benefits of Import-Export Registration
In expanding business
IEC helps you in taking your products or services to a global market. Therefore, helping your business grow globally.
Availing many benefits
DGTF, Customs, Export Promotion council etc. help the companies avail numerous benefits of their imports and exports based on their IEC registration.
There will be no filing returns
You are not required to file for returns under IEC. Once you are allotted you are not required to follow any processes for keeping up its validity. Also, for export transactions, there is no requirement for the filing of returns with DGFT.
Processing is easy
It can be considered easy to get IEC code from DGFT in a period of 10 to 15 days after submission of the application. There is no need to provide proof of import or export to get the IEC code.
Renewal is not needed
Import-Export code is valid for the lifetime of a company and it requires no renewal. After getting an IEC code it can be used by a company for all import and export transactions.
Contacts
Visit Us Daily
S-21, Greater Kailash-1, New Delhi - 110048, India
Have Any Questions?
+91-9953332076
Mail Us
kkcafirm@gmail.com