All about Import Export Code & its Registration

WHAT IS IMPORT EXPORT CODE?

Any proprietorship, Company, society or charitable organization engaging in the import or export of goods or services duly, are required to get an unique 10 digit Import Export Code allotted to them by the Directorate General of Foreign Trade, Ministry of Commerce.

It is strictly prohibited for importing and exporting activities to be conducted without possession of a valid Import-Export Code (IEC).

ADVANTAGES OF SECURING IEC

• Once allotted an Import-Export Code, it is valid for a lifetime.
• Requirement of only a few documents and the DGFT Portal is user-friendly.
• Receipt of money from foreign banks, sending shipment abroad, etc.
• Helps in diversification of business and expanding operations globally.

DOCUMENTS & INFORMATION REQUIRED

1. PAN CARD of the Company or Individual.
2. Aadhar Card of the Individual (Inapplicable for Company)
3. Certificate of Incorporation or registration obtained.
4. Applicant’s mobile number and email ID.
5. Proof of address- Aadhar Card/Voter ID/Passport (For Proprietorship) OR Electricity Bill/Rent Agreement/Lease Deed (For Company).

In case the proof of address is not in the name of the company, a No-Objection-Certificate is required from the owner.

6. A cancelled cheque from an Individual/Company/Partnership Firm’s current bank account.
7. Mobile Number & PAN Number of all the Directors (Applicable for Company)

• The Applicant shall get himself registered on the DGFT Portal and then proceed to make an application for obtaining the Import Export Code.
• Once the entire application is filled up, with all the necessary details & attachments, the applicant shall give his confirmation to the T&C, and proceed to sign on the application.
• Signature can be made by e-verification of Aadhar or through the Digital Signature of the Applicant. Only Class 2/Class 3 DSC tokens are accepted in this case.
• A fee of 500/- is required to be paid for IEC Registration.
•  Upon payment, a payment receipt is generated & the IEC certificate is granted almost instantaneously and can be printed from the DGFT portal.
• Any modification/updation in the future can also be made through the DGFT Portal.