IEC (Import Export Code) license is a code which is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. It is an essential requirement for a businessman in India who is into a business of import and export.
Features of IEC:
Who is required to obtain IEC?
Who is not required to obtain IEC?
Procedures to obtain IEC:
BENEFITS OF IMPORT EXPORT CODE REGISTRATION
IEC helps you to take your product or services to the international market and expand your businesses.
The Companies can obtain various benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc, on the basis of IEC.
This code doesn’t require the filing of any return. Once it is allotted, there is no need to follow any process to sustain its validity. Even in case of export transactions, there is no need to file for DGFT.
It is easier to obtain IE code from DGFT within 10-15 days after the submission of application. It is not required to show proof of any import or export to get IE code.
IE code is supposed to be effective for the lifetime of the entity and demands no renewal. Once it is obtained, it can be used by the entity against all import and export transactions with minimum hassles.
|S.N.||Document||For Proprietorship||For Partnership||For Private Ltd./ Public Ltd.|
|1.||PAN Card||Personal PAN Card||Partnership PAN Card||Company’s PAN|
|2.||List of Partners/ Directors||Residential address, Pin Code, Phone Number, Father’s Name, ID Proof and PAN||List of Partners with Residential Address, Pin Code, Phone Number on letter head, ID Proof and PAN||List of Directors with, Residential Address, Pin Code, Phone Number on letter head, ID Proof and PAN|
|3.||Memorandum and Articles of Association||N.A.||Partnership Deed-duly notarized, copy duly self certified.||MOA|
|4.||Bank Current Account||Any National / International Bank|
|5.||Bank Certificate||As per Appendix attached|
|6.||Photographs (Passport Size)||4 Nos.||Every Partner– (4 Nos.) with mobile number||Every Director– (4 Nos.) with mobile number|
|7.||Phone and E-mail||Applicable|
|8.||Type of Exporter||Merchant/Manufacturer/Service/Other/Merchant cum Manufacturer (if manufacturer, SSI(MSME)/IEM/Ind. License)|