Import Export Code Registration: A Key Step for Your Business Expansion

Import Export Code Registration: A Key Step for Your Business Expansion

In today’s globalized world, expanding your business beyond borders is a profitable opportunity. However, to engage in international trade legally, you need an Import Export Code (IEC). TaxYaari will guide you through the process of IEC code registration, highlighting the significance of this vital document for your business growth.

In this article, we will delve into the significance of IEC code registration, its benefits, and how to obtain it conveniently.

Table of Contents

  • About Import Export Code (IEC)
  • Where is IEC applicable?
  • Where Import-Export Code Registration. is not applicable.
  • Documents required for IEC (Import Export Code) Registration.
  • Steps in the process of IEC (Import/Export Code) Registration.
  • Benefits of taking IEC (Import Export Code) Registration
  • Expert Insights
  • FAQs
  • Conclusion

Conditions where IEC is applicable?

1-At the time of customs clearance of goods by Importer IEC is required by customs authorities.

2- At the time of sending his goods by exporter IEC is required by the customs port.

3- At the time of sending money abroad through banks IEC is required by the bank.

4- At the time of receiving money in foreign currency directly into his bank account then IEC is required by the bank.

Conditions where IEC is not applicable?

IEC is not mandatory for all GST-Registered traders. PAN can be used as a new IEC code for import/export purposes. No IEC is required for personal use, government departments, ministries, and notified charitable institutions.

Steps involved in IEC (Import/Export Code) Registration

  • To register IEC, visit the DGFT website.
  • Go to the ‘Services’ tab on the homepage.
  • Select the ‘IEC Profile Management’ from the drop-down list.
  • Select the ‘Apply for IEC’ option.
  • Click on the ‘Register’ option. Fill in the required details and click the ‘Sent OTP’ button.
  • Insert OTP and register by clicking the ‘Register’ button.
  • After validating the OTP successfully, you will receive a temporary password, which can be further changed after logging into the DGFT website.
  • After registering on the DGFT website, login to the website by entering the username and password.
  • Go to the ‘Apply for IEC’ option on the DGFT website.
  • Click on the ‘Start Fresh Application’ button.
  • Enter the general information, details of proprietor/partner/director/Karta/managing trustee, bank information, and other details, attach a Digital Signature Certificate (DSC) and make the payment.
  • After successful payment, it will be redirected to the DGFT website. The receipt will be displayed. Download the receipt for future reference.
  • The IEC Certificate is sent via email. It can be downloaded after logging in to the DGFT website and clicking the ‘Print IEC’ option under the ‘IEC Profile Management’.

List of documents required for IEC (Import Export Code) Registration

  • Individuals, firms, or company’s copy of PAN Card.
  • Provide a copy of the proprietor’s Aadhaar card, voter ID, or passport.
  • Proof of establishment, incorporation or registration of the partnership, society, proprietorship firm, Pvt. company, HUF, etc. 
  • Proof of address of business premises, such as sale deed, lease deed, rent agreement or utility bills (electricity bill, telephone bill or mobile bill).
  • Enclose copies of current bank account cancellation cheques for individuals, companies or firms.
  • Also provide a self-addressed envelope for delivery of the IEC certificate by registered post.

 

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