Importer Exporter Code Registration Online

Importer Exporter Code (IEC Code) Registration Online

A essential company identification number that is necessary for exporting from or importing into India is known as an Importer Exporter Code (IEC). Nobody may export or import without first getting an IEC, unless they are expressly exempted. However, unless the service provider is receiving benefits under the Foreign Trade Policy, IEC for services exports is not required. IEC that is issued now has the same PAN as the firm as a result of the implementation of GST. On the basis of an application, the DGFT will nevertheless publish the IEC separately. Creating an IE Code application is thoroughly examined in this tutorial.

Import Export Code (IE Code)

The business entity must obtain an import and export code in order to import goods into or export goods from India. IEC numbers are also referred to as import and export codes. The Directorate General of Foreign Trade's (DGFT) Import & Export Code is a ten-digit, one-of-a-kind number.

A company engaged in import and export must have an IEC registration certificate. So, before starting to import products into India, an importer must make sure that the importing firm has a GST registration and an IE code, both of which are necessary to pass customs.

The products will be held at the port and start accruing demurrage fees or may be destroyed if an importer does not have an IE code and a GST Registration.

Importance of Import Export Code

Exporting and importing the goods and services that their companies provide gives them a wonderful opportunity to break into the global market. Since it helps the firm to some extent in its growth and development, the IE code is a crucial need when entering the worldwide market. Getting an import export code comes with a number of benefits. Several of them are listed below:

• International market unlocks: As the IE Code is a requirement for the import and export business, they allow the products to reach the global market. IE code makes the entry of the international Indian company smoother and opens doors for growth and expansion.
• Online registration: The process to find the IE Code is entirely online and hassle-free with short document submission.
• Less document requirement: It is not required to submit many documents to obtain an IEC.
• Lifetime Validity: IE Code is a lifetime registration valid as long as the business exists. Hence, there are no issues with updating, filing, and renewing Import Export Code registration. The IE registration is valid until the company exists or the registration is not revoked or surrendered.
• Reduces illegal goods transportation: The most basic requirement for the Import-Export code is that you need to provide authentic information. Without giving proper information, IE code cannot be obtained. This criterion makes the transportation of illegal goods impossible.
• Availing Several Benefits: IE code has enormous benefits for importers and exporters. The registered business entities can get help through subsidies from the Customs, Export Promotion Council or other authorities. With LUT filing under GST, the exporters can make exports without paying taxes. If the exports are made with tax payment, the exporter can claim the refunds of the paid tax amount.
• Compliances: Unlike other tax registration, the person carrying import or export does not require to fulfill any specific compliance requirements such as the annual filing or the return filings.

Validity of IE Code

As already stated, registration for the IE Code is perpetual and good forever. The IEC registration will therefore be updated, filed, and renewed without difficulty. It remains in effect so long as the firm is still operating or the registration is not cancelled or given up. Additionally, unlike tax registrations like GST registration or PF registration, importers and exporters are not required to submit any paperwork or adhere to other compliance criteria like annual filing.

As IE code registration is one-time and requires no additional compliance, it is recommended for all exporters & importers to obtain IE code after incorporation.

Nature of the Firm obtaining an IEC

The nature of the Firm obtaining an IEC may be any of the follows:

• Proprietorship Firm
• Partnership Firm
• Limited Liability Partnership
• Limited Company
• Trust
• Hindu Undivided Family (HUF)
• Society

Pre-Requisites for Applying for IEC

• Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal)
• IEC may be applied on behalf of a firm which may be a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, and Society.
• The Firm must have an active Firm’s Permanent Account Number (PAN) and details like Name as per Pan, Date of Birth, or Incorporation.
• The Firm must also have a bank account in the Name of the Firm and a valid address before applying.

Note: These details will be validated with the Income Tax Department site.

Documents required for IEC Code registration

The list of scanned documents required for IEC Registration is listed as follows:

• Proof of establishment/incorporation/registration: The following type of Firm needs to submit the establishment/incorporation/registration certificate:

• Partnership
• Registered Society
• Trust
• HUF
• Other

• Proof of Address: Proof of Address can be any one of the following documents:

• Sale Deed
• Rent agreement
• Lease deed
• Electricity bill
• Telephone landline bill
• Mobile, post-paid bill
• MoU
• Partnership deed
• Other acceptable documents (for proprietorship only):

• Aadhar card
• Passport
• Voter id

Note: In case the address proof is not in the Name of the applicant firm, a no objection certificate (NOC) by the firm premises owner in favor of the Firm, along with the address proof, is to be submitted as a single PDF document.

• Proof of Firm’s Bank Account

• Canceled Cheque
• Bank Certificate

• User should have an active DSC or Aadhaar of the Firm’s member for submission.
• Active Firm’s Bank accounts for entering its details in the Application and making online payment of the application fee.

Procedure to submit IE Code Application

The procedure to get the Importer Exporter Code Certificate is explained in detail below:

Step1: Visit the official DGFT website. Click on the ‘Services’ tab on the homepage and Select the ‘IEC Profile Management’ option from the drop-down list.

Step2: A new page will open. Click on the ‘Apply for IEC’ option on the Page.

Step3: Click on the ‘Register’ option. Enter the required details and click on the ‘Sent OTP’ button.

Step4: Enter the OTP and click on the ‘Register’ button.

Step5: Upon successfully validating the OTP, the User will receive a notification containing the temporary password, which can change after logging into the DGFT website.

Step6: After registering on the DGFT website, log in to the website by entering the user name and password.

Step7: Post login, click on “Apply for IEC” on the Dashboard. Click on the “Start Fresh Application” button or the “Proceed with Existing Application” button if the User has already saved a draft application.

Step8: Fill out the application form (ANF 2A format), and Enter the details in the General Information Section:

• Select nature of Concern/Firm
• Enter Firm Name
• PAN Details
• Select Preferred Activities
• Enter corporate entity number (CIN)
• Enter GSTIN Number of Concern/Firm
• Enter Firm Mobile Number
• Firm Mail ID
• Enter firm address
• Attach address proof of the Firm
• Enter the details in the “Details of Proprietor/Partner/Director/Karta/Managing Trustee” Section
• Enter the details in the “Bank Account Details” Section
• Enter the details in the “Other Details (Exports Sectors preferred)” Section

Step9: Under the declaration, accept the terms and conditions by clicking on the check box.

Step10: Check the Application Summary and click on the Sign button to sign the Application using a digital signature certificate or Aadhaar.

Note: These details will be verified in real-time from the CBDT database.

Step11: Confirm and proceed to make the payment against the Application.

Step12: After Successful Payment, the Page shall be redirected to the DGFT Website, and the receipt shall be displayed; the User can also download the ticket.

Get Importer Exporter Code Certificate

When applying for an IEC, the User will receive the IEC Certificate through email. If necessary, the User can get the IEC Certificate by logging into the DGFT and using the "Print Certificate" function in "Manage IEC."

The IEC must be communicated to CBIC, and you may verify the transmission status by going to "My IEC" and comparing the IEC Status bar with "CBIC Transmission Status."

For the purpose of starting import-export activities, the Import Export Code is a key document. Obtaining the IE code is required before exporting or importing any goods or services.There are several advantages of IEC for business expansion. Of course, given that IE code registration is required, you cannot dismiss its importance. An Import Export code can be requested through IndiaFilings, and you can get one in 6–7 days.

Documents Required For Importer Exporter Code

PAN Card

Aadhaar Card

Incorporation Certificate

Cancelled Bank Cheque

Electricity Bill

Rental Agreement