Importer Exporter Code, also known as IEC, is a code given to those who are in the business of imports and exports. Any individual or a business entity whose business activities involve import and export will mandatorily have to apply for IEC. Without IEC import and export of goods and services cannot be made for business activities. However, import and export for the sake of personal use, IEC is not required.
According to Section 7 of the Foreign Trade (Development and Regulation) Act, 1992, no person can import or export any goods or services expect under an dgft IE Code Registration Online India number. This 10 digits unique number is granted by the Director General of Foreign Trade (DGFT) in a prescribed manner.
Mode of application
There are 2 modes to apply for the registration of dgft IE Code Registration Online India, they are as follows,
- IEC form – The registration form can be downloaded from the Section of DGFT website under the link Appendices and AayaatNirayaat form (ANF2A).
- Online application – The applicant also has an option to apply for IEC online on DGFT website.
The following are the minimum documents required in order to get IEC number,
- Bank receipt showing the proof of payment of Rs. 250 which is the application fees or Demand Draft drawn in favour of DGFT.
- Certificate from the Banker of the application attesting the name, address, telephone number and photograph of the applicant is necessary.
- Self-certified copy of Permanent Account Number (PAN) issued by the Income Tax Authorities (Both the sides)
- Two additional photocopies of the applicant should b provided.
- Additional documents –
- a) For companies registered the Companies Act, along with the above-mentioned documents the company will also have to submit Incorporation Certificate issued by the Registrar of Companies and Memorandum of Articles and Association.
- b) Foe partnership firms, along with the above-mentioned documents, the firm will also have to submit the Certificate of registration issued under Section 59 of the Indian Partnership Act, 1932 along with the consent of letters of all partners for the issuance of import export code online registration India.
- c) For Proprietorship firms, along with the above-mentioned documents, the proprietor is required to submit Registration certificate.
Normally for processing of an application for IEC, it takes 2 days. Once the IEC is issued it will ease the whole process of import and export. Section 12 of the Director General of Foreign Trade (Regulation) Rules, 1993 mandates every person who holds the IEC to declare the IEC number on every import or export out of any port in the Bill of Entry or in the Shipping Bill. It helps in maintaining proper track of the total number of import into the country and the total number of exports from the country. This information will be useful in awarding benefits to the IEC holders, calculating tax, maintaining the balance of payments and for many other purposes.
For the application of import export code online registration India number without any hindrance, it is better to have the assistance of an expert in the same. A leading law firm like Company Vakil renders its assistance to the applicants in filing for the IEC number.