IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code which has a lifetime validity. Predominantly importers merchant cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc. without IEC.
1. When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
2. When an importer sends money abroad through banks then it’s needed by the bank.
3. When an exporter has to send his shipments then its needed by the customs port.
4. When an exporter receives money in foreign currency directly into his bank account then its required by the bank.
We will collect the details & document required for IEC registration from you.
After collecting details, we will prepare your application based on the information provided & submit the – Aayaat Niryaat Form no. 2A along with the required documents on your behalf.
Once the application and the attached supporting documents are verified, ,the government department will issue a unique IEC number.
Import Export Code is a unique ten digit number allotted to a person who intends to engage in the business of export or import of goods. In case of some specified services, IEC is also required. Starting the business of Import and Export is mandatory.
There are many benefits for the companies who have an import-export code. With IEC, a company can obtain benefits from Directorate General of Foreign Trade Customs and Export Promotion Council on its exports/imports.
The government fee for applying to DGFT for allotment of Import Export Code is Rs. 500, which has to be paid online, while applying for the IE Code application.
There is no fee prescribed for modifying Import Export Code Details, provided the application for amendment is filed within 90 days of the change. However, for a delayed application the government fee is Rs. 1000/.
Following persons can apply for IEC:-
•Limited Liability Partnership
•Section 8 Company
In general, it is not necessary to obtain IEC Code for Export of Service Business, However Central Government in the Interest of National Security have specified specific services or specified technologies which may include import/export of automatic guns, nuclear weapons, etc. to register under DGFT and obtain an IEC.