Import Export Code

IEC code is a 10-digit number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. It’s required for import and export shipments worth more than Rs. 25,000. The code is granted automatically if the applicant is a company or firm registered with the Registrar of Companies, but individuals must file it.

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Get Import Export Code Online In India

The Import Export Code is an online registration system developed by the Department of Commerce, Ministry of Commerce & Industry, Government of India to reduce the paperwork involved in the import and export process. By registering with the Import Export Code you can conduct business faster and easier than ever before! To register on the Import Export Code, please follow these instructions.

The Process of IEC Registration

A company needs to file for an IEC under the Foreign Trade (Development & Regulation) Act, 1992 if it has an intention to import from a country outside of India. The process requires registration with the Directorate General of Foreign Trade. It is a statutory requirement to register with DGFT before engaging into such activity. In order to do so, one must have all necessary documents ready that includes: Identification Proof- Passport copy or PAN Card copy or Voter ID card copy; Address Proof- Utility bill like Electricity bill or Telephone bill; Bank Account Statement. One can file their application online at fileforindia website by providing this information. After completing the form, they need to upload scanned copies of their supporting document(s). Once these are uploaded, one can pay for their registration fee through Netbanking or through credit/debit cards. Once payment is made, the application will be processed within 48 hours. If everything goes smoothly then an email confirmation will be sent to the applicant’s email address which would include instructions on how to download the IEC certificate as well as other relevant details.

The Benefits of Having an IEC

The IEC is not only a requirement to import or export goods, it's also an important step in your business that will provide you with lots of benefits. These include:
-Registering your company with the Director General of Foreign Trade (DGFT)
-Assigning an IEC code to your company, which will make you recognizable as a legitimate business -You'll be able to import goods into India without paying duties and taxes on them. You can also pay customs duties before importing goods into India if they are being imported for resale.
-You won't have to carry around bulky invoices for each shipment; all you need is your IEC certificate for exporting and importing goods through customs.

Documents Required for IEC Registration

The documents required for IEC registration are different for every business depending on the type of products you import or export. For some businesses, the following documents will be sufficient:* A copy of your PAN card * Copies of your last three years' income tax returns (ITR) * Copies of your balance sheet, profit-and-loss account, or company's certificate of incorporation.

If you have a Limited Company * Memorandum & Articles of Association or Certificate of Incorporation with details about your company’s equity shares * Memorandum & Articles of Association with details about capital investment and shareholding pattern * Memorandum & Articles of Association detailing rights and obligations to shareholders * Board Resolution authorizing issuance of shares * Board Resolution authorizing sale/issue/buyback/ acquisition etc.

The Time Frame For IEC Registration

Registering for an IEC is a simple process that takes only a few minutes. You can apply for your IEC from the convenience of your home, office or any place with internet access. The application is available on the website of the Directorate General of Foreign Trade (DGFT) and requires you to fill out a form with basic information about your company. After completing the form, you will receive an email confirming receipt of your request.