IEC Code is mandatory for any person importing or exporting goods and services to or from India. We help you get IEC License in 3 simple steps:
We do a thorough check of all the required documents you send to us for filing an IEC.
Then, we process your application online.
We also follow up with the DGFT until your code is issued. The TIN is issued within 10-15 days of the application.
An Importer Exporter Code is a unique 10-digit code, which is requisite for every import/export business owner in India. The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce and needs no filing or renewal. IEC is required by importers to clear customs and shipment, and to transfer money to foreign banks. Exporters require IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC.
To get your Import Export license online, you will need to do the following simple IEC registration procedure.
Step 1: The online IEC application form in the format Aayaat Niryaat Form no. 2A is filed with the Directorate General of Foreign Trade. Alternatively, it could also be done offline at the Regional office of DGFT.
Step 2: All the required documents, including bank details and DSC, have to be submitted
Step 3: Next, the Import Export code will be allotted and the application will be processed further
Step 4: Once the documents and application are verified by the authorities, the import export license will be granted as a soft copy to the entity.
Any type of business registration: Sole Proprietorship, Partnership, Private Limited and Charitable organization dealing with the export and import of goods should register for Importer Exporter Goods.
Any type of business registration: sole proprietorship, partnership, private limited companies, charitable organizations dealing with import and exports of goods can register for import-export code, irrespective of the size. However, IE code is not required for Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture. There is no need for a business set up.
Following permanent IEC numbers shall be used by non-commercial PSUs and categories of importers/exporters mentioned against them for import/export purposes.
Below the table, we need to write Source: DGFT
|S.No||Code Number||Categories of Importers / Exporters|
|1||0100000011||All Ministries / Departments of Central Government and agencies wholly or partially owned by them.|
|2||0100000029||All Ministries / Departments of any State Government and agencies wholly or partially owned by them.|
|3||0100000037||Diplomatic personnel, Counselor officers in India and officials of UNO and its specialised agencies.|
|4||0100000045||Indians returning from / going abroad and claiming benefit under Baggage Rules.|
|5||0100000053||Persons / Institutions / Hospitals importing or exporting goods for personal use, not connected with trade or manufacture or agriculture.|
|6||0100000061||Persons importing/exporting goods from/to Nepal|
|7||0100000070||Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas|
|9||0100000096||Importers importing goods for display or use in fairs/exhibitions or similar events under provisions of ATA Carnet. This IEC number can also be used by importers importing for exhibitions/fairs as per Para 2.29 of HBPv1.|
|10||0100000100||Director, National Blood Group Reference Laboratory, Bombay or their authorized offices.|
|11||0100000126||Individuals / Charitable Institution / Registered NGOs importing goods, which have been exempted from Customs duty under Notification issued by Ministry of Finance for bonafide use by victims affected by natural calamity.|
|12||0100000134||Persons importing/exporting permissible goods as notified from time to time, from/to China through Gunji, Namgaya Shipkila and Nathula ports, subject to value ceilings of single consignment as given in Para 2.8(iv) above.|
|13||0100000169||Non-commercial imports and exports by entities who have been authorized by Reserve Bank of India.|
Commercial Public Sector Undertaking (PSU) who have obtained PAN will, however, be required to obtain the Import Export Code number. The permanent IEC number as mentioned above shall be used by non-commercial PSUs.
Once registered the Import Export Code is permanent and becomes valid for lifetime. Hence, there is absolutely no need for renewal or update. It lasts until the business ceases to exist or the registration is surrendered. Also, the business does not have to do any monthly or annual filings like GST, PF, etc.
RCMC is Registration-cum-Membership Certificate issued by the Export Promotion Council body under the Govt of India. RCMC is required for businesses that deal with the export of restricted products, and those seeking concessions under Foreign Trade Policy like duty withdraw.
Our professionals will execute the Import Export code registration process smoothly online at best rates. The whole process will take about ten days. We will help you in getting your Import Export license online.
What is IE Code? What is Merchandise export from India (MIES) scheme?
IEC stands for Import Export code which is a 10 digit number issued by Director General of Foreign Trade, Department of Commerce, Government of India. It is a registration required for traders importing or exporting goods and services to or from India. Under the MEIS Scheme, numerous rewards and incentives are provided to exporters. Such incentives are given to exporters at a prescribed rate which varies from product to product.
Who requires an Importer Exporter Code ?
Any person/company dealing in international trade of export and import of goods and Services need to register for IE code.
Is there any tax levied based on IE Code?
IE Code is not a tax registration. However, certain customs duty may be levied depending on the product.
Can Export /Import be made without having an Importer Exporter Code ?
No. IEC is a mandatory document for recognition by Govt. of India as Exporter / Importer of goods and services. However, if the value of goods is too low, the customs authorities may permit first export by imposing nominal charges which is highly unlikely to happen.
Can individuals obtain IE Code?
Anyone who is acting as sole proprietor of a business can obtain IE code Registration.
What are the documents required for IEC registration?
To obtain IE code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a cancelled cheque of the current account is required.
How long does it take to obtain IE Code registration in India?
With Vakilsearch IEC Registration can be obtained from the DGFT in 7-10 working days after submission of all required documents and application form.
What is the penalty levied for not registering for IE code?
As trade is not possible without a valid IEC, the penalty levied may be the pay duty depending upon the quantum of the goods.
Can Export /Import of good and services be made without Importer Exporter Code ?
No. IEC is a mandatory document for recognition by Govt. of India as exporter/importer. However, if the value of goods is very low, the concerned customs officer may permit the first export (only one time) by imposing penal charges.
Does Custom department use IEC?
Yes, IEC number is reflected in all customs documents related to exports and imports.
How many IECs can a person get?
A single business owner can get only one License.
Can any changes be made in IEC?
Yes. In order to make changes, you need to raise a request with the DGFT and produce the relevant documents to make the modifications. Some government fee may be charged for the same.
How to cancel IEC?
IE code can be cancelled by initiating a formal request to the DGFT online. On receipt of such intimation, the authorities will cancel it electronically.
Is company registration required to get IEC?
No, there is no need for a customer to start a company to apply for IEC Certificate.
Owing to lockdown, the Central Board of Indirect Taxes and Customs (CBIC) has permitted businesses to import and export goods without showing bonds to the customs people till 15th May.
Now, Paracetamol and Hydroxychloroquine (HCQ), has been placed in the licensed category and these will be exported. There was pressure from the US government to relax the ban. These drugs help in batting the COVID-19 infection.