IEC Registration or Import Export Code Registration is required for entities involved in Import or Export businesses. A 10-digit code is issued by the Director-General of foreign trade with lifetime validity. IEC code is an essential prerequisite for a hurdle-free import or export. However, import export code is not required when goods are imported for personal use only.
IEC Registration is not required when imports or exports are done by the Government of India, its Departments, and Ministries, and notified charitable institutions. IEC is not required for the traders who are registered under GST, PAN number of Trader will be treated as IEC code. IEC application is available online to expedite the process.
Entities having IE Code can avail benefits of DGFT Export Incentives schemes and other Scheme of Export promotion council.
Getting an IEC Registration is now a completely online process. DGFT has made the process simpler as the IEC number is instantly issued, as soon the application is filed on the portal. The Code is issued basis the PAN number of the entity.
Most of the registrations in India require post-registration compliance to be done for maintenance of that registration. IEC registration is free of post-registration compliances. There is no filing of returns to the DGFT of any kind.
IEC Registration certificate once issued has a Lifetime validity. There is no need to renew the import export registration certificate. IEC can be cancelled by following proper procedure and after obtaining approval of DGFT.
By obtaining IEC Registration for imports and exports, opportunities for businesses are enhanced. Any business that wants to expand on a global scale can do so by obtaining the import export code.
Make the payment of professional registration fees.
Provide documents required for IEC registration as per the list provided by us.
An application is filed through the IEC Portal.
IEC Registration Certificate is provided.
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IEC stands for Import and Export code. IEC is 10 Digit code issued by Director General of Foreign Trade.
A person may make an application for the grant of a licence to import or export goods. Export and Import of goods cannot be done without IEC code.
Following are the advantages of IEC code
Entities desirous of obtaining IEC code may apply online on http://184.108.40.206:8080/dgftiec/panSearch.jsp.
Following Documents are required for obtaining IEC code
There is no Post-registration compliance; there is no provision of filing any return.
IEC is valid for a lifetime; it does not have any expiry.
Modification in IEC can be done online through the same portal as used for registrations https://dgft.gov.in/services/iec/online
Yes, PAN of Entity is Mandatory for IEC code. IEC is issued on all India basis, and all units/Divisions of the same entity can be covered in single registrations.
If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities.
No, IEC code is not Product specific. No need to obtain different IEC for different products.
Export Code is not a tax registration, unlike GST. There is no tax involved in the IEC code registration. However, there can be customs duty which is levied as per the norms set by the concerned departments.
NRI needs to follow the same IEC code online application procedure in order to get the Import Export code. In some exceptional cases, they need to get permission from RBI for the same. Otherwise, the procedure for obtaining the license remains the same.
No, there is no penalty for not applying for import export registration. However, it would be impossible to conduct import and export business without IEC certification.
There are no filing requirements after procuring the IEC code. It is a code which is mandatory to carry out import and export business.
Yes, if you can obtain a duplicate IEC by paying the fees of Rs 200.