Import and Export code License
Sole Proprietorship, Partnership, Private Limited and Charitable organization all these types of business dealing with the export and import of goods should register for Importer Exporter Goods.Though this code is not needed for personal use for Import/export of goods, which is not connected with trade, manufacture or agriculture. There is no need for a business set up.
How To Register For Import Export Code?
IEC Code is mandatory for any person importing or exporting goods and services to or from India. We help you get IEC License in 3 simple steps:
Benefits of Import and Export code License
- Sole Proprietorship, Partnership, Private Limited and Charitable organization all these types of business dealing with the export and import of goods should register for Importer Exporter Goods.
- Sole Proprietorship, Partnership, Private limited companies, Charitable organizations business and whosoever is doing the business of export and import of goods and services needs to register for import-export code, regardless of the size. Though this code is not needed for personal use for Import/export of goods, which is not connected with trade, manufacture or agriculture. There is no need for a business set up.
Checklist (Documents required)
- For Individual/Proprietor/Partner/Director:
- Self-attested copy of PAN card (mandatory).
- Copy of authorization letter and NOC (In case of Partnership).
- Copy of Partnership Deed (In case of Partnership).
- Copy of Board resolution(In case of Company).
- Authority from Directors on company letterhead (In the case of Company).
- Bank Certificate/Cancelled Bank Account cheque (Individual).
- Passport size photographs.
Identity proof of Individual/director/Partner/Proprietor
- Aadhar card.
- Voter ID.
- Driving license.
- Self-attested copy of Telephone/Mobile or Electricity bill.
- Bank Account Statement (Less than 2 months old).
- Copy of PAN Card (for Firm/Company).
- Copy of MoA and AoA (For company).
- Copy of Bank statement (For Company/Firm).
- CoI(For Company)/ Partnership Agreement.
- Cancelled Bank Account cheque (For Firm).
- Company Letterhead (For Company).
Entity Address Proof:
- Telephone/Mobile/Electricity/Gas bill (Less than 2 months old).
- In case of rented premises a notarized copy of Rent Agreement with a No-Objection Certificate (NOC) for conducting business.
- In the case of self-owned premises, a registered title document.
Import Export Code or IEC is a 10-digit code that a business or a person needs to import/export goods/services. This code is issued by DGFT (Director General of Foreign trade), Ministry of Commerce and Industries, Government of India. The validity of this code is for lifetime, that is, there is no need to renew it. This code is generated within 5-15 working days after the documents are submitted and all the corrections required are made.
No. Since IEC is just a license, no mandatory compliances are required to be followed.
No. There is no penalty for not having an Import Export Code as it is not mandatory under law. However, in the absence of the IEC Code, no export or import of goods and services would be permissible.
To obtain IE code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a cancelled cheque of the current account is required.
A single business owner can get only one License.
Yes. In order to make changes, you need to raise a request with the DGFT and produce the relevant documents to make the modifications. Some government fees may be charged for the same.
IE code can be cancelled by initiating a formal request to the DGFT online. On receipt of such intimation, the authorities will cancel it electronically.
- It is needed by the custom authorities to clear the shipments in case of any imports.
- Also, it is needed by the bank to transfer the amount in the case of any imports made.
- Vis-à-vis if an exporter needs to send the shipments, then it is required.
- Or, if the exporter is supposed to receive money in foreign currency and it is transferred directly into his bank account.