Import Export Code License (IEC) in India
Import Export Code License (IEC) in India
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry in the Government of India provides a unique 10-digit identification number called an Import Export Code (IEC). Any business operating in India that engages in import or export is required to possess it. Companies can participate in global commerce through the IEC, which essentially serves as a permit.
What is an Import Export Code License (IEC)?
The Import Export Code (IEC), also known as the Import and Export Code Registration or IE code registration, is a key identifier for importers and exporters. It's a PAN-based registration that enables a business to clear customs, ship goods, and receive various benefits from the government for their trade activities. It's valid for the lifetime of the business and doesn't require renewal, as long as the information provided is up-to-date.
How to Get an IEC Code Online
It is easy to apply for an Import Export Code (IEC) online through the Directorate General of Foreign Trade (DGFT). Here's how to obtain your IEC code online, step-by-step and point-by-point:
1. Visit the DGFT Portal:
2. Register as a New User:
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The "Apply for IEC" or "IEC Profile Management" options should be clicked.
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A new user profile can be created by selecting the "Register" option.
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Enter the following basic information: name, email address, and phone number.
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Your mobile number and email address will receive an OTP (One-Time Password) for verification.
3. Log in and Start the Application:
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After registering, use your new login information to access the portal.
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On your dashboard, click on "Apply for IEC."
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Launch a "Fresh Application" and provide the necessary information.
4. Fill Out the Application Form:
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PAN Details: The IEC is PAN-based. You will need to enter your Permanent Account Number (PAN) details, and the system will verify them.
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General Information: Provide details of your business, such as the name, address, and date of incorporation/formation.
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The applicant's information: The owner, partner, or director's name, address, and PAN should be provided.
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Bank Details: Provide your business's bank account information, including the account number and IFSC code.
5. Upload Required Documents:
A duplicate PAN card belonging to an individual or organization.
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Proof of Business Address: Proof of business address can be found in a recent utility statement (phone, electricity, or mobile bill), lease agreement, sale deed, or rent agreement. A No
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An Objection Certificate (NOC) must be shown by the property owner if the address proof is not in the firm's name.
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Bank Account Proof: Either a bank certificate or a cancelled check bearing the application entity's name pre-printed on it is required.
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Identity Proof: The owner's passport, Aadhaar card, or voter ID is required for a proprietorship.
6. Pay the Application Fee:
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After filling out the form and uploading documents, you will be directed to the payment gateway.
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Pay the application fee (typically a nominal amount) using online payment methods like credit/debit card or net banking.
7. Submit and Track Your Application:
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Review all the information before final submission.
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Submit the application. You will receive an application reference number.
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You can track the status of your application on the DGFT portal using this reference number.
8. Receive Your IEC Certificate:
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Your IEC code will be issued and forwarded to the email address you registered with after the DGFT has approved it.
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As an alternative, you can print your IEC certificate by logging in and selecting the "Print IEC" option on the DGFT website.
Key Documents Required:
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PAN card of the individual or the company.
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Aadhaar card of the applicant.
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A cancelled cheque or bank certificate.
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Proof of address.
Updates and Renewal of IEC Codes
Although the IEC code is always valid. Companies must update their information once a year. This procedure—often called iec code renewal—is essential to guaranteeing adherence. Companies that fail to update their information risk having their IECs deleted. Additionally, the DGFT website is used to complete the renewal procedure online. With this annual update, the DGFT is guaranteed to have the most up-to-date data on companies engaged in international commerce.
Benefits of IEC Registration
Businesses can get a plethora of advantages and prospects by obtaining an IEC code online, such as:
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Expansion of business: It allows you to enter international markets and grow your business beyond domestic borders.
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Government benefits: Companies holding an IEC are eligible for a number of government programs and grants that encourage and facilitate exporting.
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No compliance burden: Unlike other licenses, the IEC doesn't require a lot of ongoing compliance, making it easy to maintain.
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Lifetime validity: Once issued, the IEC is valid for the lifetime of the business, saving you from the hassle of frequent renewals.
Frequently Asked Questions – IEC Registration
An Importer-Exporter Code (IEC): What is it?
The Director General of Foreign Trade (DGFT) issues a 10-digit business identification number called an IEC, which is necessary to carry out import or export activities in India. Unless specifically exempted, no business is allowed to import or export without an IEC.
2. Who can submit an application for an IEC?
An IEC can be applied for by organizations such sole proprietorships, partnerships, LLPs, corporations, societies, trusts, and HUFs. It is required to have a firm address, a bank account in the business's name, and a valid PAN.
3. Is it necessary to register with IEC?
Yes, importers and exporters must do it, unless they are exempted by certain laws, such as those pertaining to government agencies, diplomatic missions, SEZ businesses with specific transactions, or personal use products.
4. Can I update or change my IEC information?
Indeed. To make changes to your address, email, cellphone number, or bank account information, log in to the DGFT portal and select "Manage IEC." Such changes might need the Regional Authority's (RA) approval.
5. What happens if I wish to connect an existing IEC to a new DGFT account?
Go to "Link IEC" after logging in to the DGFT portal, input the IEC number, and confirm with DSC or Aadhaar e-sign. The IEC is connected to the new account after it has been confirmed.
6. How can my IEC number be confirmed?
Make sure your IEC is valid by using the ICEGATE portal.