With increased globalization, a gradual shift of businesses is observed from the local market to the international market. To make the presence felt and serve the international market, import and export activities are carried out which leads to the need of Import – Export Code.
Import Export Code is a 10 digit unique code allotted to the business entities that allow imports and exports. The code is allotted by the Directorate General of Foreign Trade (DGFT) to the applicants.
IEC code requires one-time registration and comes with lifetime validity. The process for import export code registration has become simpler with online IEC application supported by a few documents.
Global Markets at Fingertips
Unless the entity holds IEC, it is not allowed to import or export goods/services into the foreign market. It is a key to enter the international market and widening the scope of business. With IEC, one can take their products or services to the global market and expand business with ease.
Compliance – Free
Once the import-export code is obtained, there are no adaptational formalities. Unlike other tax registrations, the IE code holder also does not need to comply with any kind of annual filing or return filing. Also, the code is valid for a lifetime so there is no need for renewal.
The complete process of applying for importer-exporter code is simple and hassle-free with the online Import-Export license application. It merely takes 3-4 working days for obtaining the importer-exporter code. The applicant can immediately download the e-IEC through the link provided in the mail after uploading documents and payment of the fee.
The importers and exporters are eligible to benefit from many Government schemes. The entities are eligible for the schemes under DGFT on their import/export. They can avail the subsidies from Customs and Export Promotion Council or similar government organizations.
A scanned copy of a PAN card of the applicant or the company
Sale Deed/ Rent Agreement/ Latest Electricity Bill/ Telephone Bill in name of an applicant
A cancelled cheque of the current account bearing entity’s pre-printed name or Bank Certificate in form ANF-2A(i)
PAN card of Director or Partner
For a company/partnership, PAN card of the Director/Partner is a must
Certificate of Registration
An Entity should provide the registration certificate with MoA- AoA / LLP Agreement, or a Partnership Deed as applicable