Import Export Code (IEC) Registration
Starting from ₹1,500 + GST
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Table Of Content
What is Import Export Code (IEC) Registration
The movement of goods and services between countries through imports and exports is important for the global economy. Many Indian businesses have begun dealing with imports and exports to cater to an international market and go beyond the domestic market with an IEC code registration through the best accounting firm. An Import Export Code or IEC is a unique 10-digit code that is a business identification number. It is also known as the Importer-Exporter Code and is mandatory for imports into India and exports from India. The Directorate General of Foreign Trade (DGFT), Ministry of Commerce, is responsible for issuing the IEC number.
The IEC registration is required for import and export businesses in certain cases. Importers need it to clear their shipment at customs, send money to foreign banks, etc. Exporters need it to send shipments from the customs port, receive money from foreign banks in their bank accounts, etc. It is one of the first steps Indian companies must complete before importing and exporting goods into and from the country. The IEC registration provides numerous benefits to your import and export business, which can help you reach foreign markets. The IEC registration can be done with assistance from the best accounting firm in Pune for seamless import and export operations of your business.
Benefits of Import Export Code (IEC) Registration
Eligibility for Import Export Code (IEC) Registration
Process for Import Export Code (IEC) Registration
Step 1
Visit the official website of the Directorate General of Foreign Trade. Click on the ‘IEC Profile Management’ option from the Services tab. Click the ‘Apply for IEC’ button and register on the website with the required basic details such as name, email ID, address, etc. After the submission of the details, you will receive an OTP with a temporary password to log in.
Step 2
Change the password of the profile from the temporary password provided. Enter the new password to log in to the DGFT website and apply for the ICE registration. Click on the ‘Apply for IEC’ option present on the dashboard.
Step 3
Click on the ‘Start Fresh Application’ button to begin your business’s IEC registration process. You must fill out the form with the relevant details about the proprietor, business, bank details, etc. Attach the required documents along with a Digital Signature Certificate and pay the fees. The best accounting firm can ensure you submit the necessary documents for a seamless process of ICE registration for your business.
Step 4
Once the fee payment is successful, you will be redirected to the DGFT website. You can receive the receipt of the payment made for the registration, which can be downloaded for future reference.
Step 5
After the relevant documents for the IEC registration are reviewed, you will receive the IEC through email. The IEC certificate for your business can be found on the ‘IEC Profile Management’ option on the DGFT website. You can download the Import Export Code registration certificate for your business. The certificate will include the name of the firm, address, 10-digit IEC number, date of issue, branch details, etc.
Documents Required for Import Export Code (IEC) Registration
FAQs
Is IEC registration mandatory?
Yes, an Import Export Code registration is mandatory for imports and exports unless exempted specifically. Service providers availing the benefits of the Foreign Trade Policy for service exports don’t require it. ICE isn’t required for goods being imported or exported for personal purposes.
How long does it take to receive the IEC registration certificate?
It may take around 10 to 15 working days to receive the Import Export Code registration certificate after the application form has been submitted. After the application and documents are reviewed, the DGFT will send the ICE registration certificate via email.
What is the validity period of IEC?
After the IEC is issued to your import/export business, it is valid for the entire lifetime of the business as long as your entity continues to operate.
Can the IEC registration be modified if required?
You can modify the IEC registration by submitting the application again to the DGFT with the relevant documents and paying the modification fees.
Should the IEC be updated every year?
Yes, the IEC has to be updated every year between April and June, even if no changes are made. If there are no changes to the details, it has to be confirmed online. This is necessary to avoid deactivation of your IEC.
Should any returns be filed for the IEC?
No, you don’t have to file any returns for the IEC. One of the benefits of having an ICE registration is not having any annual filing or return filing.