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At MAS, we believe in rendering services not only catering to domestic business but also for growing business beyond the limits of domestic market. Before going global, a number of procedures and laws in place are necessary to be followed and different registrations / licenses are to be obtained. Import Export Code (IEC) is one of the pre-requisite for imports or exports to and from India. IEC is issued for lifetime and needs no renewal.
Why do you need IEC?
- For clearing shipments by an importer from the customs authority
- For sending shipments by an exporter by the customs port
- Exporter receiving money in foreign currency directly into his bank account
- For availing benefits on imports and exports from Customs, Directorate General of Foreign Trade (DGFT), etc.
List of documents / information required for registration
- A copy of permanent account number (PAN) Card (For Individual / Firm / Company)
- Aadhar Card / Passport / Voter Id (For proprietors)
- Address Proof of the firm. In case the address proof is not in the name of the applicant firm, a No Objection Certificate (NOC) by the firm premises owner in favor of the firm along with the address proof is to be submitted as a single PDF document is mandatorily required
- Bank certificate / pre-printed cancelled cheque is mandatorily required
- Contact details: Mobile number and e-mail I’d of all individuals / directors / partners
- Any one of the following:
- Sale deed
- Rent agreement
- Lease Deed
- Electricity bill
- Telephone bill
- Mobile Postpaid bill
- Memorandum of Understanding (MOU)
- Partnership Deed
FAQs
IEC (Import export code) is essential by anyone who is looking to kick-start his/her import/ export business in the country. It is provided by the DGFT (Director General of Foreign Trade). IEC is a 10 digit code which has lifetime validity. Primarly importers merchant cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, without IEC.
Any type of business i.e. sole proprietorship, partnership, private limited companies, charitable organization which are dealing with import and exports of goods can register for import- export code, irrespective of the size. IE code is not required for goods for personal use, which is not connected with trade, manufacture or agriculture.
- The online IEC application form in the format Aayaat Niryaat Form (ANF) no.2A is filed with the Directorate General of Foreign Trade. (Offline registration can be done at the regional office of DGFT.
- All the required documents, including bank details and DSC, have to be submitted.
- The Import export code will be allotted and the application will be processes further.
- Once all the documents and application are verified by the authorities, the import export license will be granted as a soft copy to the entity.
Import export code is permanent and is valid for lifetime, so there is no need for renewal or update, it lasts until the business ceases to exist or the registration is surrendered.
Following are the documents required for IEC registration:
- Individual’s or firm’s or company’s copy of PAN Card.
- Individual’s voter id or aadhar card or passport copy.
- Individual’s or company’s or firm’s cancel cheque copy of current bank account.
- Copy of rent agreement or electricity bill copy of the premise.
RCMC is Registration-cum-Membership Certificate issued by the Export Promotion Council body under the Government of India. It is required for businesses that deal with the export of restricted products and those seeking concessions under Foreign Trade Policy like Duty Withdraw.
Following are the advantages of holding IE code:
- Global market research
- No compliance and annual maintenance
- Other several benefits
- Easy to obtain
At MAS, we are equipped to provide qualitative value-added services through the entire process of getting IE Code. Our team is available to offer end to end services in accordance with your requirements.
