IEC [Import/Export Code]

Global Growth Opportunities: An IEC license enables your business to tap into international markets, enhancing your brand's presence and recognition worldwide.

Diverse Advantages: Depending on the IEC registration type, your business can access a range of perks provided by the Export Promotion Council, DGFT, and Customs authorities.

No Filing Obligations: After your IEC registration is processed online, there are no ongoing return filing requirements. Additionally, DGFT does not impose any filing issues for export transactions.

Streamlined Process: Securing an IEC license from DGFT is a simple and efficient process, typically completed within 0-15 days post-application. You don't need to provide export or import documents to obtain your import-export code.

Lifetime Validity: Once your business acquires an IEC license, you benefit from its privileges indefinitely, without needing to renew it.

Official Government Endorsement: An IEC, or Import Export Code, registration online is an officially recognized identity number issued by DGFT. It serves as proof of identity during shipment clearance.

Securing an IEC registration certificate is crucial if you're looking to engage in importing or exporting goods internationally. This certificate provides essential details such as the vendor code and the specific port involved in the transaction. Having an IEC registration not only streamlines the import-export process but also helps curb illegal trade activities by ensuring complete transparency regarding the items being transported.

Without an IEC number, your shipments cannot be cleared by customs authorities, making this certification indispensable for smooth international trade. Furthermore, banks necessitate an IEC registration code for processing foreign transactions, and exporters must present this code at customs ports to facilitate shipment clearance.

Additionally, an IEC registration code is required when an exporter receives foreign currency payments in their bank account. The foreign governments will verify traders based on their IEC application process, making it a key component for international business operations.

For those importing or exporting goods solely for personal use, and not engaging in trade, manufacturing, or agriculture, obtaining an import-export license is not required.

Business owners who conduct export or import operations with Myanmar, Nepal (via Indo-Myanmar border areas), or China with individual shipments valued up to Rs. 25,000 are exempt from IEC registration.

However, this exemption does not apply to exports involving Special Chemicals, Organisms, Materials, Equipment, and Technologies (SCOMET) as specified in Appendix - 3, Schedule 2 of ITC (HS).

Core Benefits of IEC Code Registration

1. Mandatory for Business Activities: To participate in import/export operations, obtaining a new IEC registration is essential.
2. Proof of Business Engagement: The IEC code serves as official confirmation of a company's involvement in importing or exporting goods.
3. Lifetime Validity: Once issued, the IEC code is valid indefinitely, removing the need for periodic renewals.
4. Exemption for Individuals and Government: Individuals or government entities are not required to secure an IEC for their import/export activities.
5. Foreign Currency Transactions: IEC registration is crucial for engaging in transactions involving foreign currency.
6. Business Necessity: The IEC code is indispensable for managing all aspects of an exporter's or importer's business.

If your business is engaged in import-export activities in India, securing an Import Export Code (IEC) is a crucial step. This code, once issued, remains valid for the lifetime of your business. The process to acquire this code can be completed online through the Directorate General of Foreign Trade (DGFT) portal.

Here’s a simplified guide to help you through the IEC registration process:

1. Visit the DGFT Website
   Navigate to the official DGFT website at www.dgft.gov.in.
2. Select Registration Option
   Click on 'Apply for New Import Export Code (IEC) or Modify Existing IEC.'
3. Enter Basic Details
   Provide the PAN number of the applicant along with other required details, including the applicant’s name (as per PAN), date of incorporation/birth, and the captcha code.
4. Submit Basic Information
   Click ‘Submit’ after entering the information.
5. Verify Contact Details
   Input your mobile number and email address to receive an OTP. Enter the captcha code to generate this OTP, then input the OTP to proceed.
6. Fill Company Information
   Enter the E-commerce number along with details such as the company name, address, mobile number, email address, nature of the company, and its business activity.
7. Bank Details
   Provide the account holder's name, bank details, and applicant information.
8. Submit Application
   After filling in all the required information, submit your application.
9. Branch and Director Details
   Include branch information, such as branch SI. No, 6-digit PIN, and branch address. Update the details of the Director/Partner/Proprietor/Karta/Managing Trustee.
10. Upload Documents
    Upload necessary documents like address proof, canceled cheque, or a bank certificate.
11. Fee Payment and Verification
    Make the payment and verify the application fee as specified.
12. Review and Print
    Review the completed application, ensure all details are correct, and click ‘Print Application.’
13. Submit with DSC
    Finally, submit your application with or without the DSC (Digital Signature Certificate) of the applicant.