Import Export Code

How Many Days Does It Take To Get An Export License In India

An announcement was issued by the Ministry of Commerce on 31 August. Exporters are required to submit an export license application by 2020 regarding shipments of N95/FFP2 masks. The Directorate General of Foreign Trade (DGFT) will consider applications submitted by such exporters only from 7 September to 9 for granting export licenses.

Introduction To Get An Export License In India

Starting a business in India requires fulfilling various requirements. These may range from seeking permission from the government to arranging funds and getting the required license to operate. In this blog, we will be highlighting a few facts about the Export License in India.If you are planning to start an import-export business in India, then you need first to get an Import Export license from the government. Registration plays a key role in ensuring this. Once you get the license approved, then you will get an Import Export Code, which is a 10-digit code. The Directorate General of Foreign Trade (DGFT) issues this code. DGFT is a part of the Ministry of Commerce and Industry. If you wish to run a seamless import and export business in India, then you need this license. Learn more about Start up business ideas

Steps to get Import Export License

The following steps will guide you through the complete process of getting the import-export code:

One of the first things that you must take into consideration is that you need to choose the product which you want to export. You will get the IEC for the product category that you have applied for. The next thing that you need to decide is the name of the company. The name of the company should end with Exports. You also need to register your firm if you have still not registered.

  • You can apply for IEC online, and a fee of ₹ 250 needs to be paid. 
  • Next, you need to go for EDC Registration, i.e. you need to register your company with the nearest airport or seaport.

Online Application for IEC

  • Collect all the necessary documents and have digital copies of the same before you begin the process of online application.
  • Log on to the official portal by clicking here and submit the form for registering your firm.
  • To begin this, you would need your PAN number. After entering the PAN number, you will be redirected to either create a new IEC Application or open an existing one.
  • Once you have entered the IEC Master Document, you need to fill in other details like location, PAN details, bank account, date of establishment of the firm, and other details. Once you have filled in all the details, you will be directed to make the payment. Here you will be required to pay a fee of ₹ 250. This payment is made online from designated banks. 
  • After payment of fees, you will next have to upload all the documents pertaining to your IEC application.
  • After successful uploading of documents and completion of the form, you can print the completed IEC form and submit it to the DGFT office that includes your location. Once you have submitted the documents, you will get a screen wherein you will have your Ecom Ref. number along with the name of your company and the DGFT office where your application has been submitted for processing.
  • With these few steps, you will be easily able to complete the online application for IEC, and you will get the IEC code.
  • The entire process is completed in 3 days to a week.

Documents for IEC Application

As we have mentioned above, you need to have certain documents for the successful processing of your IEC form. We have brought together the list of those documents, but you must know here that the documents will vary based on the kind of company you have. Let’s illustrate the same:

Proprietorship

  • You would need a photograph of 3*3.
  • Identity cards like voter ID, driving license, passport or Aadhaar card
  • Address proof like a utility bill
  • Bank certificate, or you can give a cancelled cheque with the name of the applicant and account number. 

Partnership

  • You would need a photograph of the managing partner of 3*3.
  • PAN card of partnership firm
  • ID proof like an Aadhaar card, passport, driving license
  • Address proof, you need to have a sale deed if the property is self-owned; in the case of rent, you would need a lease agreement along with a utility bill.
  • Bank certificate, or you can give a cancelled cheque with the name of the applicant and account number. 

LLP and Company (both public and Pvt ltd)

  • You would need photographs of the director of 3*3

PAN card of the applicant of the LLP firm

  • Certificate of incorporation
  • ID proof like an Aadhaar card, passport, driving license
  • Address proof, you need to have a sale deed if the property is self-owned; in the case of rent, you would need a lease agreement along with a utility bill
  • Bank certificate or you can give a cancelled cheque with the name of the applicant and account number

With these basic steps and documents, you will get the export license within three days to one week.

Conclusion

We hope we have provided you with sufficient information pertaining to your concern; however, if you would like any further assistance, please don’t hesitate to leave a comment below or feel free to contact us directly if you need more assistance.

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