Import-export code registration– How to Apply for it?

Every import or export business owner in India requires an IEC code, which is a unique 10-digit code. The code is provided by the Ministry of Commerce’s Director-General of Foreign Trade (DGFT) and does not require filing or renewal. Importers need IEC to clear customs and ship their goods, as well as to transfer money to foreign banks. Exporters must have an IEC in order to send shipments and receive funds from foreign banks. No importer or exporter can operate a business in India without first getting an IEC code.

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Who can apply to get iec code online?

The import export code registration is applicable for all company registrations:

• Sole Proprietorship
• Private limited companies
• Section-8 Company
• Partnership
• OPC (one-person company)
• LLP Company

If any of the above is involved in the export or import of goods, you must apply for import export code registration right away. The IEC Code, on the other hand, does not apply to the import and export of personal goods that are not related to trade, manufacturing, or agriculture.

Import export code registration process: Steps to get iec code online

Step 1: Application Form

To begin, prepare an application form in the required format Form ANF-2A and submit it to the appropriate DGFT Regional office.

Step 2: Documents collection 

Once you have seen the form you must arrange all the documents like ID and Address proof, legal entity proof, and bank account details with an ANF2A certificate.

Step 3: Filing Application

Once your application is completed, you need to file with DGFT via DSC and pay the necessary fee for the import-export code registration.

Step 4: Check iec status

At last, once your application has been approved, the government will send you a soft copy of the IEC Code. Keep a track of iec status on mail or number you provide.

Documents Required to get iec code online

The documents needed to register with the IEC are relatively simple to gather. There are only a few documents that must be submitted, which are listed below. 

1. The company’s PAN card (not applicable in case of the proprietor).
2. PAN and Aadhaar card of the applicant (driver’s license/Aadhaar/voter ID).
3. Certificate of incorporation/partnership deed or other registration documents, if applicable
4. Proof of address (electricity bill, rent agreement, or office location sale deed or other).
5. Copy of a cancelled cheque leaf/banker certificate for the company’s current account.

You can take online ca services and upload documents easily. 

Benefits of iec code online

1. The IEC registration allows traders to enter the global market by allowing them to register with online e-commerce operators.
2. Customs and export promotion schemes such as the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others are available to businesses.
3. Because there are no compliance requirements after registration, running a business is relatively simple.
4. The procedure for obtaining IEC is simple and can be completed with only a few basic documents.

Validity of iec code online

The registration of an IE Code is a continuous process that lasts a lifetime. As a result, updating, filing, and renewing your IE Code registration will be a breeze. It remains in effect until the business ceases to exist or the registration is canceled or resigned. Furthermore, unlike tax registrations such as GST or PF, the importer or exporter is not required to file any filings or follow any other compliance requirements such as annual filing. Because IE code registration is one-time and requires no additional compliance, it is permissible for all types of corporations.

You must go to the DGFT IEC portal to check the IEC code, from which you can also verify iec status online.

Check IE code/ verify iec code

To verify iec code visit the DGFT website. Go to the DGFT IEC section under the service category. And tap on the verify IEC Code option. By entering the requisite details you will be allowed to verify iec code.

Check status by following steps. Customs and DGFT have formed connectivity to increase trade and avoid separate registration of importers and exporters at multiple custom houses under the Indian Customs EDI system. Kindly check out the following IE code registrations from various DGFT offices to automatic and semi-automatic customs locations to track the status of IE code registration:

1. The PAN-based IE code is derived by DGFT offices across the country and compiled at DGFT headquarters. Click the IE Code @ DGFT button to see if your IE code has reached DGFT headquarters and to double-check the accuracy of your IE code details.
2. The data is sent to customs ICEGATE from the DGFT HQ. Please insert your IE code in the textbox and tap the IE Code @ ICEGATE button to check the status and rightness of your IE code at the customs ICEGATE location.

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Exemption of IEC code

• Importing and exporting goods for personal reasons unrelated to trade, agriculture, or manufacturing.
• The parties/individuals who import/export goods to/from Nepal and Myanmar with a single shipment must not exceed the amount of 25,000 through Indo-Myanmar border regions and China (via Namgaya Shipkila, Gunji, and Nathula ports).
• Exemption from getting an IEC for components, organisms, special chemicals, tools, and technologies is mentioned in appendix 3, schedule 2 of the ITC (SCOMET).
• Central and state government ministries and departments.
• Commercial public sector undertakings (PSUs) that have received a PAN must also procure an import export code number. Non-commercial PSUs must use the permanent IEC number.

How Long Will It Take To Get An IEC Code Through The Online?

Obtaining your Import Export Code/IEC License usually takes only one day. However, because it is based on final approval from the DGFT, it may take another day in some cases. As a result, the time it takes to receive your Import Export License registration certificate ranges from 1 to 5 working days.

Conclusion

 In case any problem arises to verify iec code, check iec status or in import-export code registration process contact our ca services online. LegalPillers is the best in town ca firms near me.

 

• Also Read – WHAT IS AN IMPORT EXPORT CODE?
• Also Read – TYPES OF COMPANY REGISTRATION IN INDIA FOR STARTUPS
• Also Read – ALL ABOUT CA SERVICES