What is IEC


If you are in business of Importing and Exporting of goods in India, it mandatory to have 10 digit Import Export Code. Many a times Import Export Code is abbreviated as IEC. Import Export Code is required for all persons or enterprises involved in Import or Export of goods. Import Export Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. Import Export Code has Lifetime Validity.

Needs of IEC


LegalDocs is India biggest Import Export Code Agent serving customers across India.

  • Importer need IEC License for custom clearance.
  • Exporters need IEC License for export subsidy.
  • Bank requires IEC License for sending and receiving money to foreign customers.
  • For Food Licensing and APEDA Licensing IE Code is Required.

Benefits of IEC



  • Open International Market
  • Product scaling and Increased Revenue
  • Sell your product on international e-commerce Platforms
  • On Exports claim tax benefits.

Procedure for Import Export Code Registration



  1. Consultation
  2. Document preparation
  3. Digital Signature
  4. online application
  5. IE Code generation

Document Requirements for IE Code


  • Import - ExportLLP/ Company/ Proprietor’s PAN
  • Import - ExportAddress proof of Establishment - Any utility Bill/ Rent Agreement
  • Import - ExportCancelled Cheque of Company Account, Proprietary Account
  • Import - ExportCompany Incorporation/ Partnership/ Proprietorship Documents
  • Import - ExportPartners/ Directors/ Proprietor PAN Card
  • Import - ExportPartners/ Directors/ Proprietor Adhaar Card
  • Import - ExportPhoto of partners/ Directors/ Proprietor
  • Import - ExportResolution from the company/ partnership authorising any one designated partner to apply for IEC Registration and the authorised designated partner’s digital signature.

IEC Process



Process Takes around 5-7 working days once complete Documents shared.

Frequently Asked Question(FAQs)


  • 1. What is IEC?+
  • A. IEC Stands for IMPORTER EXPORTER CODE Legal Provisions As per section 7 of Foreign Trade (Development and Regulation) Act, 1992 Importer-Exporter Code Number – “No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General.
  • 2. Who requires an IEC? +
  • A. Any bonafide person/ company starting a venture for International trade.
    Following categories of importers or exporters are exempted from obtaining IEC number:
    (i) Importers covered by clause 3(1) [except sub-clauses(e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
    (ii) Ministries / Departments of Central or State Government.
    (iii) Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
    (iv) Persons importing / exporting goods from / to Nepal,Myanmar through IndoMyanmar border areas and China (through Gunji, Namgaya Shipkila and Nathula ports), provided CIF value of a single consignment does not exceed Indian Rs.25, 000. In case of Nathula port, the applicable value ceiling will be Rs.100,000. However, exemption from obtaining IEC number shall not be applicable for export of Special Chemicals, Organisms, Materials, Equipments and Technologies (SCOMET) as listed in Appendix- 3, Schedule 2 of ITC (HS) except in case of exports by category (ii) above
  • 3. Can Export/Import be made without IEC?+
  • A. No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer
  • 4. What are the benefits of IEC?+
  • A. On the basis of IEC License, companies can obtain various benefits on their exports/ imports from DGFT, Customs, and Export Promotion Council etc.
  • 5.+Whether more than one IEC can be issued against one PAN?
  • Only one IEC would be issued against a single PAN number. Any proprietor can have only one IEC number and in case there are more than one IECs allotted to a proprietor, the same may be surrendered to the Regional Office for cancellation. ** In case of more than one proprietorship firm belonging to one proprietor, they will be indicated as branch offices of the first firm.
  • 6. How much time does it takes to get an IEC? +
  • A. Normally two working days for processing. For cancellation of IEC 15 working days
  • 7.In case the IEC is returned undelivered, what are the documents required for proving the genuineness of the firm?+
  • A. Information to Post Office, Proof of Address-Copy of ownership Title, Registered copy of Lease Deed, copy of Telephone Bill, Electricity Bill, Registered copy of Rent deed etc. are required to confirm about the genuineness of the address. Applicant may also be asked to attend interview before the IEC issuing officer if necessary.
  • 8. Can IEC be hand delivered/Over the counter? +
  • A. No, IEC issued are dispatched by Speed Post to the address mentioned on the self addressed envelope enclosed with the application. Only Deficiency Letters along with Application form/Document will be delivered at the IEC counter to the authorized person/Applicant having the acknowledgement receipt. If Deficiency Letter is not collected within 5 days then it will be sent by post to the applicant.

FEATURED ON


My Story
The Indian Express
Axilor
Entrepreneur Magazine

WHY CHOOSE LEGALDOCS


Consultation from Industry Experts.

Value For Money and hassle free service.

50000+ Happy Customers.

Money Back Guarantee.

Call Us on : +91-913-716-4494

© 2018 RSE LegalDocs Pvt Ltd. All rights reserved.