Import Export Code (IEC)

Why is IEC required?

To export or import in India, IEC code is mandatory.

When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
When an importer sends money abroad through banks then it’s needed by the bank.
When an exporter has to send his shipments then it’s needed by the customs port.
When an exporter receives money in foreign currency directly into his bank account then it’s required by the bank.

Who can Apply for IEC? Any type of business registration can apply for IEC:

Sole proprietorship
Partnership,
LLP
Private limited companies
Charitable organizations
Trust
HUF
Society

Documents Required for Import Export Code (IEC) Registration The documents required for an IEC registration are listed below

PAN card of each shareholders and directors (not applicable in case of the proprietor)
Applicant’s PAN and Aadhaar card (driving license/Aadhaar/voter ID)
Incorporation certificate/partnership deed
Address proof (electricity bill (must not be older more than 3 months)/rent agreement/Sale Deed of the office location)
Copy of cancelled cheque leaf/banker certificate of the current account in the name of the company.
Two Color Photographs of Promoters/Individuals/ Company/ Director

Important point with reference to Import Export Code:-

IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of process for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.

IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.

A Digital Signature Certificate (DSC) is not compulsory to apply for an IEC. The IEC application can be signed through Aadhaar authentication.

IEC Number is not required for import/export of goods for personal use, which are not connected with trade, manufacture, or agriculture.

HOW LAWnians works for IEC?

Contact the Expert professional for discussion on the documents required

Upload all the documents and information and pay application fees for getting IEC code

Professional will Verify the documents and file the documents with DGFT online

Follow up on the application by our expert professional

Once IEC is issue, you will get IEC code on your registered email id

FAQ’s

A business license is a legal permit issued by a government authority that allows a business to operate in a specific location. It is necessary to ensure compliance with local regulations and to conduct business legally.

The requirement for a business license varies by location and industry. An attorney can help determine the specific licenses needed for your business and guide you through the application process.

Businesses in regulated industries such as food service, healthcare, construction, and transportation often require special licenses or permits. An attorney can provide guidance on industry-specific licensing requirements.

Renewal frequencies vary by location and type of license. Some licenses need annual renewal, while others may be valid for multiple years. An attorney can help you stay on top of renewal deadlines.

Operating without the required licenses can result in fines, penalties, and even business closure. It is essential to comply with licensing requirements to avoid legal repercussions.

While an attorney cannot expedite the process, they can ensure that your application is complete and accurate, reducing the likelihood of delays. They can also provide guidance on the most efficient way to navigate the process.

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