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IEC full form is Import Export Code. IEC is a mandatory registration for those who wants to start a Export or Import Business in India. IEC code is issued by the Directorate General of Foreign Trade (DGFT). Earlier IEC was numeric code but now instead of issuing numeric code as IEC Directorate General of Foreign Trade (DGFT) has started issuing PAN as Import Export Code (IEC). In simple words if you apply for IEC than your PAN will be alloted as your IEC.
If you are not in import and/or export of any goods than you do not need to take IEC Code. Validity of IEC Code is lifetime/unlimited and there is no need of IEC Code renewal. Single IEC Code is valid for all divisions / factories / units of a company or person.
WHY IEC CODE IS REQUIRED?
All importers who want to Import Export their goods are required to register IEC Code.
And all Exporters who want to Export or import their goods are required to register for IEC code.
TYPES OF IEC REGISTRATION APPLICATION
- Application for New IEC code.
- Modification/Change in existing IEC code.
BENEFITS OF IEC CODE REGISTRATION
- No Filing Returns
Import Export Code holder don’t requires to file any type of return. Whether you make any import export or not you don’t need to worry as no compliance is required.
- Life – Time Validity
Once you register your IEC Code it is registered for the lifetime. No need of any type of renewal of this Registration.
- Easy to Register
You can apply for IEC code online while sitting at your home/office. You don’t need to visit any officer complete process is online.
- Business Expansion
IEC is helps you in taking your goods and services on the world wide global market and it expands your business easily outside India.
DOCUMENTS REQUIRED FOR IEC CODE REGISTRATION
- Cancelled Cheque
- Address Proof : Aadhar Card, Rent Agreement , Electricity Bill , Telephone bill etc.
PROCESS OF IEC CODE ONLINE
Step 1 : First you need to go to the login page , and login with the help of your company details such as PAN, Mobile No. & Email Id.
Step 2 : Fill the application and attach all the required documents such as PAN, Aadhar, Cancelled Cheque and Address Proof.
Step 3 : After completing your application you need to make payment of Rs. 500/- as Government fee for applying IEC Code and than submit the application.
Step 4 : Final step, after approval of the application you would receive the IEC Code in your mail as mentioned in the IEC code application.
IEC CODE REGISTRATION FEES
IEC Code registration Government Fees is Rs. 500/- and such fees will be paid before submitting application for IEC Code online. Government Fees for IEC Code Registration can be paid online by using your Internet Banking.
COMPLIANCE AFTER IEC CODE REGISTRATION
You don’t require any type of return filing after the IEC Registration. You just need to give your IEC Code at the time of import and export and also when you make payment to abroad through banks against your import.
In simple words after obtaining IEC code from DGFT you do not need to file any type of monthly/quarterly or yearly return. IEC code holder do not require to do any type of compliance.
MODIFICATION IN IEC CODE REGISTRATION
Modification of IEC is a very easy and fast process. By following online web portal it will take few steps to modify the details of our Registration. This will take only one day in completing the whole procedure.
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