Import Export Code (IEC) Registration
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The Import Export Code (IEC) is a ten-digit unique code assigned to individuals or companies, imperative for all import and export operations. Initiating business expansion on a global scale involves the exchange of products and services through import and export activities. Beyond individual business advantages, international trade contributes significantly to the overall benefit of the country. Recognizing the pivotal role of trade, the government has prioritized trade facilitation, aiming to diminish transaction costs and streamline processes, fostering a conducive environment for businesses to thrive.
The Import Export Code (IEC), a ten-digit distinctive code essential for all import and export transactions, is allocated to individuals or companies by the Director General of Foreign Trade (DGFT). As the acronym suggests, DGFT stands for Director General of Foreign Trade and is entrusted with the responsibility of issuing these crucial Import Export Codes.
Though the complete term for IEC is Importer Exporter Code, it is more commonly referred to simply as the import-export code. This code plays a pivotal role in facilitating international trade by serving as a unique identifier for entities engaged in cross-border commerce.
The following documents are required for IEC registration:
The Government fees for Import-Export Code (IEC License) registration stand at ₹500. Complementing this, the professional fees for IEC code registration are ₹999. Consequently, the comprehensive cost of obtaining an IEC certificate totals ₹1499, combining the government fees of ₹500 with the professional fees of ₹999.
| IEC Registration Fees | |
|---|---|
| Aayaat Niryaat Form no. 2A | NIL |
| Filing at DGFT | NIL |
| Professional Fees | Rs. 999 |
| Govt. Fees | Rs. 500 |
| Rs. 1,499 Only/- | |
IEC serves as a gateway to global market access, empowering businesses to expand by introducing their products and services on an international scale.
Companies leveraging their IEC registration can unlock various benefits for their imports and exports through entities such as DGFT, Export Promotion Council, Customs, etc.
Acquiring an IEC code from DGFT is a streamlined process, typically taking 10 to 15 days upon application submission. The procedure is straightforward, with no requirement for evidence of export or import, ensuring a hassle-free experience.
IEC eliminates the need for filing returns. Once allocated, it maintains validity without necessitating any ongoing processes. Even in the case of export transactions, there is no obligation to submit returns to DGFT.
An IEC code remains effective for the entire duration of an entity's existence and does not require renewal. Once obtained, it seamlessly serves the entity across all import and export transactions, offering a perpetual and efficient solution.
Steps for Obtaining Import Export Code (IEC):
Initiate the process by registering online through the DGFT government portal. This serves as the primary step in obtaining an Import Export License.
Following registration, gather and organize all required documents for the application. Ensure that you have a comprehensive understanding of the necessary documentation, as discussed earlier.
Proceed to the application phase, where you fill out the "ANF2A" (Aayat Niryat Form 2A) and upload all essential documents. This step involves a combination of form filling and document submission.
After submitting your application, it undergoes verification by the Directorate General of Foreign Trade (DGFT). The approval or rejection of your application depends on the accuracy and completeness of the uploaded documents. Exercise caution during this stage.
Upon successful verification by DGFT, your Import Export Code (IEC) is approved, and the code is issued. For online applications, an e-IEC is provided once approved by the competent authority. Notification of the availability of your e-IEC is communicated through email, and it can be accessed on the DGFT website.
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