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IEC Registration Online

Simplify IE Code Registration online with us. Essential for Indian companies in import-export endeavors. The 10-digit IEC Code, issued by DGFT, is mandatory for trade within India.

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Overview of IEC Registration Online in India

  • IEC Registration is a crucial requirement for individuals or businesses looking to initiate import and export operations in India. This code facilitates the seamless movement of goods across international borders and is an essential step to legally engage in import and export activities. To register for IEC, specific documents are necessary to complete the process. Online IE Code Registration is designed to streamline this procedure, making it easier for all Indian companies intending to conduct import and export operations. This unique 10-digit license is issued by the Director-General of Foreign Trade (DGFT), a part of the Department of Commerce in India.

  • Import Export Code (IEC) is a mandatory code for Indian companies seeking to engage in import and export business operations. This code is essential for businesses planning to expand their activities in the import and export domain. IEC is issued by the Directorate General of Foreign Trade (DGFT), which operates under the Ministry of Commerce & Industries. It consists of a unique ten-digit code that serves the purpose of regulating and managing foreign trade operations in India.

  • The IEC registration is vital for conducting import and export activities within India. Without an IEC code license, businesses are not allowed to engage in these operations. Moreover, if a company aims to diversify its business activities to include import-export transactions, obtaining an IEC code registration is a necessity. This registration not only enables businesses to legally conduct international trade but also offers them access to various government schemes designed to support and benefit them.

  • In today's rapidly evolving business landscape, companies face intense competition from their counterparts in the market. The constant influx of fresh ideas and successive innovations in business operations, coupled with the rise of e-commerce, has prompted domestic businesses to recognize the significance of expanding their operations on a global scale through international trade.

  • Indeed, Import Export Code (IEC) registration for individuals or online IEC registration in India is a one-time process. The obtained license allows the company to engage in international trade activities. However, as per recent announcements, IEC holders are now required to electronically update their IEC details annually during the period from April to June.

Benefits of IEC Registration Online in India

Expansion of Business:Acquiring an IEC enables businesses to expand their operations into the international market, tapping into global opportunities. This license empowers companies to export their products and goods beyond their national borders, thus establishing brand recognition in the international market.

Availing Multiple Benefits: Depending on the basis of IEC registration, businesses can unlock a range of advantages offered by entities like the Export Promotion Council, Directorate General of Foreign Trade (DGFT), and Customs.

No Return Filing: Once the online IEC registration in India is granted, there is no requirement for return filing. The legitimacy of the IEC remains intact without the necessity of filing any return, even during export transactions.

Hassle-Free Procedure: The process of obtaining IEC from DGFT is straightforward and can be completed within 0-15 days after submitting the application. No export or import documents are needed for obtaining the import export code number.

Valid for Lifetime: Once a business is registered with an IEC license, the benefits associated with it remain accessible indefinitely. The IEC license is valid for a lifetime, eliminating the need for any renewal process.

Government Authorized Proof: Import Export Code (IEC) is a government-issued identity number granted by the DGFT. It serves as an authorized identification number that can be presented during the shipment clearance process, affirming the business's authenticity and compliance.

  1. For Import-Export Operations: IEC registration is essential for businesses involved in importing and exporting goods and products internationally. It serves as an authorization on the vendor code information linked to the specific port through which goods or services are traded.

  2. Control Illicit Goods Movement: IEC helps reduce the unlawful movement of goods. Obtaining an import-export code requires the submission of comprehensive information about the items being traded or imported, making it more challenging for illicit goods to move unnoticed.

  3. Customs Clearance: Custom authorities will only permit the shipment of goods if the trader or importer possesses a valid IEC number. It serves as a crucial document for clearing shipments through customs.

  4. Foreign Transactions: Banks require an IEC registration code for foreign transactions. It ensures that international transactions are conducted in compliance with regulations and standards.

  5. Clearing Shipments: Exporters need IEC registration at the custom port to facilitate the clear and legal movement of their shipments.

  6. Receiving Foreign Currency Payments: If an exporter receives payment in foreign currency to their bank account, having an IEC registration in India simplifies the process without unnecessary hurdles.

  7. Government Affirmation: Depending on the application process for IEC code, foreign governments recognize and affirm the trader's legitimacy.

IEC registration in India becomes necessary in various scenarios for businesses engaged in import and export activities:

  1. Import-Export Operations: Obtaining an IEC registration certificate is crucial for businesses engaged in importing and exporting goods and products internationally. It serves as an authorization, linking the vendor code information with the specific port through which goods or services are being imported or exported.

  2. Control of Illicit Goods: IEC registration helps curb the illegal movement of goods. Since acquiring an import-export code requires the submission of comprehensive data about the traded or imported items, it becomes more challenging for illicit goods to pass through unnoticed.

  3. Customs Clearance: Custom authorities will grant permission for your shipment only if the trader or importer is registered with a valid IEC number. It's an indispensable document for navigating customs procedures.

  4. Foreign Transactions: Banks demand an IEC registration code for foreign transactions. This ensures that international financial dealings adhere to regulatory standards and guidelines.

  5. Facilitate Shipments: Exporters need IEC registration at the customs port to ensure the smooth and lawful movement of their shipments.

  6. Receipt of Foreign Currency Payments: If an exporter receives payments in foreign currency to their bank account, having an IEC registration in India simplifies the process, streamlining financial transactions.

  7. Government Recognition: Depending on the IEC code application process, foreign governments acknowledge and affirm the legitimacy of the trader.

Documents Required for IEC Registration in India

  • PAN Card of the company or the applicant
  • Bank account statement of the company or applicant
  • Photocopy of Driving License
  • Photocopy of the cancelled cheque
  • A copy of Aadhar/Voter ID
  • Certificate of Partnership Deed/Incorporation
  • Address proof of the registered office premise

Key Features of IEC Registration

  • No business operation can involve in Import/Export business activities without obtaining IEC new registration
  • It works as a proof for a company which is involved in import/export of products and goods Once registered with IEC, it exists for a lifetime which means there is no requirement for any renewal.
  • It is not necessary or not needed for any individual or legislative functions to involve in import or export of products and goods
  • IEC or Import Export Code is irremissible for making foreign money transactions
  • It is significant for all parts of exporters or importers business.

Registration Procedure of IEC Registration in India

Certainly, here's a step-by-step breakdown of the IEC registration process:

1. Visit the Directorate General of Foreign Trade (DGFT) website at www.dgft.gov.in.

2. Click on the option 'Apply for New Import Export Code (IEC) or Modify existing IEC.'

3. Fill in the PAN details of the applicant, including Name (as per the PAN), Date of Incorporation or Date of Birth, and Captcha Code.

4. Submit the basic details.

5. Enter your mobile number and email address, and then generate an OTP by clicking 'Generate OTP'. Enter the received OTP and submit it.

6. Proceed to generate the E-Commerce number. Provide details including Company Name, Address, Mobile Number, Email Address, Name on PAN card, Date of Company Incorporation, Nature of Company (e.g., Private Limited, Public Limited, Proprietorship, LLP, etc.), Business Activity (e.g., Merchant Exporter, Service Provider, Manufacturer Exporter), and Bank Account Details.

7. Submit the application.

8. Fill in Branch Details, including Branch SI. No, 6-digit PIN, and Branch Address. Update the information of Director/Partner/Proprietor/Karta/Managing Trustee.

9. Upload required documents like Address Proof, Cancelled Cheque, or Bank Certificate.

10. Proceed with the fees payment and verification as per the application instructions.

11. Review the completed application, thoroughly checking for accuracy, and then click 'Print Application'.

12. The final step involves submitting your application with or without the Digital Signature Certificate (DSC) of the applicant.

By following these steps diligently, you'll be able to complete your IEC registration process and gain the necessary authorization to engage in import-export activities in India.

FAQ

Frequently Asked Questions

Import-Export code or IEC is not a tax registration; nevertheless, based on the product, the certain custom duty can be enforced.
Business who wishes to get IEC can apply for it by submitting an application along with needed documents at Joint Director General of Foreign Trade
With the use of IEC Registration, you can get various advantages from the DGFT, Customs, export promotion council, and so on.
No, the IEC Registration is valid for a lifetime. So there is no need to renew it.
No, Import Export Code is a permanent license and is not product-based.
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