The Import Export Code is a crucial document for getting into international sales transactions. it's acquired significance for it's a government-specified pre-requisite before any commercial shipments are often imported or exported. during this post, we highlight the importance of import-export code and specify the procedure to submit your IEC application online.
Who is required to get an Import Export Code?
As per the Foreign national trading policy in India, no import or export are often avoided a legitimate IEC granted by the Director-General of Foreign Trade or a politician authorised by the Director-General. Thus, every importer or exporter of products (whether Indian or foreign firm) into India has got to obtain an Import Export Code.
The IEC could also be applied on behalf of a firm – which may be a partnership, LLP, Ltd. , trust, HUF or society. A firm needs a legitimate address, PAN (Permanent Account Number) and a checking account for applying for IEC.
Is IEC necessary just for goods and certain services?
No, your business would wish this not just for import or export, but there are other advantages linked to IEC. The IEC number is now necessary for availing advantages under schemes of the DGFT or Ministry of Commerce like duty drawback, credit , subsidies on import of capital equipment etc.
What documents are required for submitting an IEC application online?
Scanned Documents for Upload within the System
1. Proof of establishment/incorporation/registration of the Partnership, Registered Society, Trust or HUF
2. Proof of Address, which may be anybody of the subsequent documents:
3. Sale Deed, Rent agreement, lease deed, electricity bill, telephone landline bill, mobile, postpaid bill, MoU, Partnership deed
4. Further, other acceptable documents (for proprietorship only): Aadhar card, passport, voter id
Just in case the address proof isn't within the name of the applicant firm, a no-objection certificate (NOC) by the firm premises owner in favour of the firm along side the address proof is to be submitted as one PDF document.
1. Proof of Firm’s checking account
2. Cancelled Cheque
3. Bank certificate
What are the other requirements for filing an IEC?
1. Digital Signatures Token
3. Mobile Number and Email ID.
4. Moreover, Address Details of Branch Office
5. Bank Account within the name of IEC Holder
6. Aadhar Card matching the small print with PAN Card
How to submit an IEC application online?
Step 1 – As a replacement user, you'd need to register on the web site of the Directorate General of Foreign Trade. this will be accessed at – https://www.dgft.gov.in/CP/. For this purpose, you'd got to enter your email address, mobile number, pin code, district, state and city. Further, you'd even have to settle on “Importer/Exporter” within the menu on the new user creation portal. You’d got to enter the OTP received on the registered mobile number.
Step 2 – After successful registration, the new details can apply for IEC. To do so, click on the “services” tab from the menu bar and choose “IEC”. Additionally, from this, choose the “Online IEC Application” tab.
Step 3 – Here, enter your PAN number, name, date of birth or details of incorporation as applicable. Further, you’d even be required to enter your registered mobile number and click on on “Generate OTP”.
Step 4 – At the landing page, enter the subsequent details – Branch details (if your business has multiple branches), details of directors and partners with their residential proofs and email IDS
Step 5 – Upload proofs of the above-mentioned documents, cancelled cheque or bank certificate. Likewise, please note that the IEC application system only accepts PDF format with files up to five MB only.
Step 6 – Click on the “Fee Payment” portal. you'll make the requisite fee payment of ₹250 via net banking, debit or mastercard . Further, the portal also will generate a DGFT reference number to see the status of your IEC application.
Step 7 – Once the appliance is submitted after paying the fee, you'll take a print of the appliance . Further, at this page, you would like to pick the “Submit and Generate IEC Certificate”
Format of the IEC certificate issued by the Ministry of Commerce is as follows –
1. User name
3. Name and Designation of Applicant
4. Address of Branch, if any
5. IEC Number
6. Date of issue
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