Online Import Export Code (IE Code) Registration & Its Benefits

Last Updated at: March 03, 2020
1928
Online Import Export Code (IE Code) Registration & Benefits

For Importing or Exporting goods and services from India it is necessary to have an Import Export Code (IEC). It is a 10-digit number issued by the Director-General of Foreign Trade (DGFT) and has lifetime validity.

The code is required by the exporters/importers when

  • Importers have to clear their shipment
  • Money is sent abroad by the importer through his bank
  • Shipment is sent by the exporter, custom port ask for IEC
  • Exporter receives money directly in his bank in a foreign currency

However, when the export and Import is by central government or it is for defence purposes or falling under the list in Foreign Trade (exemption from application in certain cases) Order, 1993 then in such cases IE code is not required. Further, export and import when done for personal use do not require the person concerned to hold Import Export Code.

What are the documents required for IEC Registration?

    1. An individual person
    2. PAN card of either the Individual or the firm/company
    3. An identity card of the individual which can either be his voter id, Aadhar or passport copy.
    4. Keep along either a rent agreement or electricity bill details or any other document for furnishing address proof.

Get IEC Registration

Procedure Involved in IEC Registration

Step 1: Visit DGFT page by using the following link https://dgft.gov.in/ and on the horizontal red tab choose the Service option.

Fig -1 IEC Registration

Step 2: Once you click on the Service option a drop-down will appear. Click on the IEC application and choose the Online IEC option

Fig -2 IEC Registration

Step 3: Once you click on the Online IEC application option, the following page would appear

Fig -3 IEC Registration

Kindly fill in the PAN card number according to the requirement. It can be of a proprietor or the firm or the company. On one PAN card, only One IEC will be issued.

Once the PAN card number is entered click on the NEXT option.

Enter the Mobile Number and the concerned email id. Kindly enter the Captcha given and click on the Generate Token Option.

Step 4: After you fill in the PAN card number, you would be required to fill in the name of the individual/entity/company and the date of birth in the case on a proprietor and date of incorporation in case of legal entities and then submit the details.

Fig -4 IEC Registration

Step 5: Once CBDT verifies your PAN card details, kindly enter your mobile number and email address that you have provided while applying for PAN card and fill in the Captcha.

One-time Password would be sent on the registered mobile number

Fig -5 IEC Registration

Once you get the OTP, fill in on the required box and submit.

Step 6: Fresh IEC application form will appear. It will have on its left-hand side am ECOM Reference number which would be used by the applicant for future reference.

Fig -6 IEC Registration

Fill in the details asked for such as the name and designation of the applicant, his PAN card details, the address of the entity, pin code, details of the bank account, etc.

Once all the details and being entered into, Update and save the information to avoid the error.

Step 7: Details of the Bank account has to be entered of the proprietor/entity on Step 2 (Bank Details) option. An amount of Rs 250 will be paid from the Bank details that you will enter in the columns.

Fig -7 IEC Registration

Once all the details are filled, click on the ADD option and move on to Step 3.

Step 8: Based on the entity type fill in the required details on the Director/Partner column. Details required would be of Director/Partner/Karta/Proprietor etc. such as his PAN card details, date of birth, address, etc

Fig -8 IEC Registration

Once all the details have been filed correctly, click on the ADD option and move on to the Upload document option on the horizontal tab.

Step 9: To avoid future issues, kindly upload the correct documents. Documents that the applicant would require includes; a copy of the PAN card, Bank certificate, a photograph of the applicant, etc.

For address proof, sale deed/electricity bill/Memorandum of Understanding/etc any of the following documents can be uploaded.

Fig -9 IEC Registration

Step 10: On the fee payment option you will be required to pay the specified amount as the application fee which may either be Rs 500 or Rs 250.

Payment can be done through Debit card/credit card/ net banking, etc. Once the payment is done, verify the payment done.

Fig -10 IEC Registration

Step 11: On successful completion of the above details, preview the application form to make sure that all the details have been correctly filled and the correct documents have been uploaded. In case you find any error, you can go back to the relevant page and made the required changes.

The information entered into should be in conformity with the documents Uploaded.

When you will review the application, a check-list box will appear to make sure that tall the relevant documents and details have been entered into.

Fig -11 IEC Registration

Step 12: Submit the IE application form. The concerned DGFT office will be auto-selected and you have to click on Proceed Further option and then Submit and generate IEC certificate.

Digital Signature Certificate is not mandatory now.

 

 

 

 

Fig -12 IEC Registration

What are the benefits of Import Export Code?

IEC helps in spreading the business worldwide without having any burden of visiting the concerned department at every step and avoid the lengthy paperwork in custom.

It helps exporters and importers in the International market, and has the following other benefits:

  1. Availing the tax incentive. The exporter may claim a refund of the amount of tax paid while exporting the goods.
  2. Development of business worldwide.
  3. Easy documentation process and it has lifetime validity.
  4. There is no annual maintenance fee and there is no requirement of filing the returns.
  5. It is a simple and easy online process.
  6. No compliance requirement, the applicant just needs to furnish the PAN card details while filling the form online.

IEC is a one time process and helps the applicant from availing benefit and incentive from DGFT, Custom authorities and Export Promotion Council.

0

Online Import Export Code (IE Code) Registration & Its Benefits

1928

For Importing or Exporting goods and services from India it is necessary to have an Import Export Code (IEC). It is a 10-digit number issued by the Director-General of Foreign Trade (DGFT) and has lifetime validity.

The code is required by the exporters/importers when

  • Importers have to clear their shipment
  • Money is sent abroad by the importer through his bank
  • Shipment is sent by the exporter, custom port ask for IEC
  • Exporter receives money directly in his bank in a foreign currency

However, when the export and Import is by central government or it is for defence purposes or falling under the list in Foreign Trade (exemption from application in certain cases) Order, 1993 then in such cases IE code is not required. Further, export and import when done for personal use do not require the person concerned to hold Import Export Code.

What are the documents required for IEC Registration?

    1. An individual person
    2. PAN card of either the Individual or the firm/company
    3. An identity card of the individual which can either be his voter id, Aadhar or passport copy.
    4. Keep along either a rent agreement or electricity bill details or any other document for furnishing address proof.

Get IEC Registration

Procedure Involved in IEC Registration

Step 1: Visit DGFT page by using the following link https://dgft.gov.in/ and on the horizontal red tab choose the Service option.

Fig -1 IEC Registration

Step 2: Once you click on the Service option a drop-down will appear. Click on the IEC application and choose the Online IEC option

Fig -2 IEC Registration

Step 3: Once you click on the Online IEC application option, the following page would appear

Fig -3 IEC Registration

Kindly fill in the PAN card number according to the requirement. It can be of a proprietor or the firm or the company. On one PAN card, only One IEC will be issued.

Once the PAN card number is entered click on the NEXT option.

Enter the Mobile Number and the concerned email id. Kindly enter the Captcha given and click on the Generate Token Option.

Step 4: After you fill in the PAN card number, you would be required to fill in the name of the individual/entity/company and the date of birth in the case on a proprietor and date of incorporation in case of legal entities and then submit the details.

Fig -4 IEC Registration

Step 5: Once CBDT verifies your PAN card details, kindly enter your mobile number and email address that you have provided while applying for PAN card and fill in the Captcha.

One-time Password would be sent on the registered mobile number

Fig -5 IEC Registration

Once you get the OTP, fill in on the required box and submit.

Step 6: Fresh IEC application form will appear. It will have on its left-hand side am ECOM Reference number which would be used by the applicant for future reference.

Fig -6 IEC Registration

Fill in the details asked for such as the name and designation of the applicant, his PAN card details, the address of the entity, pin code, details of the bank account, etc.

Once all the details and being entered into, Update and save the information to avoid the error.

Step 7: Details of the Bank account has to be entered of the proprietor/entity on Step 2 (Bank Details) option. An amount of Rs 250 will be paid from the Bank details that you will enter in the columns.

Fig -7 IEC Registration

Once all the details are filled, click on the ADD option and move on to Step 3.

Step 8: Based on the entity type fill in the required details on the Director/Partner column. Details required would be of Director/Partner/Karta/Proprietor etc. such as his PAN card details, date of birth, address, etc

Fig -8 IEC Registration

Once all the details have been filed correctly, click on the ADD option and move on to the Upload document option on the horizontal tab.

Step 9: To avoid future issues, kindly upload the correct documents. Documents that the applicant would require includes; a copy of the PAN card, Bank certificate, a photograph of the applicant, etc.

For address proof, sale deed/electricity bill/Memorandum of Understanding/etc any of the following documents can be uploaded.

Fig -9 IEC Registration

Step 10: On the fee payment option you will be required to pay the specified amount as the application fee which may either be Rs 500 or Rs 250.

Payment can be done through Debit card/credit card/ net banking, etc. Once the payment is done, verify the payment done.

Fig -10 IEC Registration

Step 11: On successful completion of the above details, preview the application form to make sure that all the details have been correctly filled and the correct documents have been uploaded. In case you find any error, you can go back to the relevant page and made the required changes.

The information entered into should be in conformity with the documents Uploaded.

When you will review the application, a check-list box will appear to make sure that tall the relevant documents and details have been entered into.

Fig -11 IEC Registration

Step 12: Submit the IE application form. The concerned DGFT office will be auto-selected and you have to click on Proceed Further option and then Submit and generate IEC certificate.

Digital Signature Certificate is not mandatory now.

 

 

 

 

Fig -12 IEC Registration

What are the benefits of Import Export Code?

IEC helps in spreading the business worldwide without having any burden of visiting the concerned department at every step and avoid the lengthy paperwork in custom.

It helps exporters and importers in the International market, and has the following other benefits:

  1. Availing the tax incentive. The exporter may claim a refund of the amount of tax paid while exporting the goods.
  2. Development of business worldwide.
  3. Easy documentation process and it has lifetime validity.
  4. There is no annual maintenance fee and there is no requirement of filing the returns.
  5. It is a simple and easy online process.
  6. No compliance requirement, the applicant just needs to furnish the PAN card details while filling the form online.

IEC is a one time process and helps the applicant from availing benefit and incentive from DGFT, Custom authorities and Export Promotion Council.

0

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A lawyer with 14 years' experience, Vikram has worked with several well-known corporate law firms before joining Vakilsearch.