The Digital age has allowed Businesses to look beyond the domestic markets. It is easier than before to conquer overseas trade. But, you need certain Registration and Certificate before establishing an Exim (Export-Import) business in India.
Import Export Code (IEC) is such a certificate mandatory to have any export or import business in India. Import Export (IE) Code is a 10 digit code issued by DGFT. Import Export Code (IEC) certificate remains valid for a lifetime. The IEC creates a database of India’s exporters and importers with the Customs Department. Import export code used to be a random number, but after GST implementation, it is the same as your PAN number.
Table of Contents
Benefits of Import Export Code (IEC)
- Eligibility for Export Import Business: By having an import export code on your name or firm’s name, you are eligible to do import and export. However, few products are restricted (such as import of Ornamental fish, fish food, rubber scrap, etc.) and need specific import permits over IEC.
- Export/Import Incentives: You can only avail of export/import incentives through the Import export code certificate. DGFT provides Export incentives such as MEIS (Merchandise Export from India Scheme), SEIS (Service Export from India Scheme), RoSCTL Scheme(Rebate of State and Central Levies and Taxes) etc. and Import incentives such as Advance Authorization, EPCG (Export Promotion Capital Goods).
- Global Expansion: IEC Certificate is required to trade-in or with overseas markets. IEC will open the door for you to global expansion.
- Lifetime Validity & No Return Filling: Import Export code will be valid for the lifetime. You also don’t have to file any returns like GST Certificate.
- Easy Process: You can apply for the Import Export Code online with the basic documents. The IEC will be issued within a day after submitting the application properly.
Applicability/Usage of Import Export Code
- When an Importer has to clear their consignment, IEC must be presented in front of the Customs authorities.
- When an Exporter is dispatching products to be exported, IEC must be presented in the Customs office.
- When an Importer wants to make the payment to the firm located overseas, Bank will need Import Export Code.
- When an Exporter receives the payment from overseas, Bank will need Import Export Code.
- When you want to claim export/import incentives, you need IEC.
Documents Required for Import Export Code (IEC) online Registration
- Pan Card copy of Individual or Firm or Company.
- Identity Proof copy like Voter ID/Aadhar/Passport
- Copy of Cancelled Cheque of Individual’s Bank Account (can be Personal Account). Current Account cancelled cheque in case of Firm and Company.
- Copy of rent agreement or electricity bills of the premises (Individual’s residential address will work)
Import Export Code (IEC) Online Registration Process
- Visit DGFT website
- Click on the Service tab on the Homepage and click IEC Profile Management from the dropdown.
- Click on Apply for IEC and submit ‘Registration’ details.
- Click send OTP and then submit OTPs you received on mobile and email.
- Upon successful OTP validation, you’ll receive a temporary password over email that you can change after logging into the DGFT website.
- Login into the DGFT website with the username and revised password
- Click ‘Apply for IEC’ on DGFT website
- Fill in the required details(ANF 2A format), upload required documents, pay the applicable fee, and click on the ‘Submit and Generate IEC Certificate’ button.
- The DGFT will generate the IEC code. You can download the certificate to take a printout. IEC is ready now.
Exceptions where you don’t need Import Export Code (IEC)
- Ministries or Departments of Central or State Government.
- Persons importing/exporting goods from/to Nepal and Myanmar through Indo-Myanmar border areas provided the CIF value of a single consignment doesn’t exceed Indian ₹ 25,000.
- Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
You can check complete exemption categories details by clicking here.
Scroll To Top