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Import Export Code (IEC) is a registration required for persons importing or exporting goods and services from India. IEC is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IEC when issued can be used by the entity throughout its existence and doesn't require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
Importer Exporter Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 3 to 7 working days or less.
IEC is known as many names like Importer Exporter code, Import Export Code, Import Export Licence, Import Licence, Export Licence, Import Export Number, Import Number, Export Number, IEC Code etc.
You just need to send us scan copy of your Documents online. ieccodeonline.com can help your business obtian IEC (Import & Export Code) in 3 to 7 working days, subject to Government processing time.
An ieccodeonline.com IEC Expert will prepare your IE Code Application in the prescribed format along with the necessary supporting documents and obtain your signature in the application.
Once the application is prepared, ieccodeonline.com will submit the Import Export Code Application to the Directorate General of Foreign Trade (DGFT) for further processing and allotment of IEC.
Once the application and the attached supporting documents are verified, the DGFT will allot a Import Export Code for your business.
All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad.
All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
IE Code is issued for the lifetime of the entity and requires no renewal. So once a IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.
IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.
Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.
IE Code can easily be obtained from DGFT within 3-7 working days after submission of the application along with all the necessary information. It is not necessary to show proof of any import or export to obtain IE Code.
If you have taken IEC Certificate in new process e-IEC ( Electronicc IEC) then you can download your certificate any time by login IEC portal but if you had taken your IEC in physical process, you have to apply for e-IEC with all the documents and DGFT will provide you certificate in new e-IEC Format.
If a company wants to modify any details in IEC, then it can be done online only. IEC modification can be done only after submitting all the documents again with require changes, Modification process is difficult then original process of IEC.
The Importer Exporter Code (IEC), is normally required by manufacturers and companies for international business but with this new RBI ruling, the hundreds and thousands of freelancers, programmers, web designers and small companies who depend on PayPal for foreign payment will also have to apply for an Importer Exporter Code.