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Introduction
Registration is a process essential for every importer and exporter merchants for carrying on the business of import and export of goods or services. It is a ten digit code issued on PAN basis which is required for carrying Import Export business.
All exporters must mention their IE Code while exporting their goods from India. All importers must mention their IE Code while clearing customs when their goods arrive in India. Also, now RBI requests the entities importing or exporting services to also mention IE Code in foreign remittances in bank accounts. Therefore, IE Code is required for anyone involved in import or export in India.
Sprinthub Solutions ensures you the high level of satisfaction and timely delivery of Import Export Code and better dealing with the requirement of government through its expert professionals. You may get in touch with our team on 096436-69475 or email admin@sprinthub.in for for IEC Registration.
Advantages of Import Export (IEC) Registration
Easy and online registration
No Filing of returns
No requirement for renewal
Use of IEC
Documents Required for Import Export Code
Sole proprietorship or Individual
As a proof of Identity:
Aadhaar card/Passport of Individual
PAN card of Individual
Details of Bank account:
Bank Certificate as per ANF 2A(I) or a canceled cheque
Proof of Principal place of business:
Own office: Sale deed, copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
Rented or leased office: Electricity bill or Rent/leased agreement and NOC (No objection certificate) from the owner.
Partnership firm
As a proof of Identity:
Copy of Aadhaar card/ passport of all the partners
Copy of PAN card of firm
Copy of PAN Card of all partners
Proof of Constitution of Business:
Certificate of Registration/Partnership Deed
Details of Bank account:
Bank Certificate as per ANF 2A(I) or a canceled cheque
Proof of Principal place of business:
Own office: Sale deed, copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
Rented or leased office: Electricity bill or Rent/leased agreement and NOC (No objection certificate) from the owner.
Limited Liability Partnership
As a proof of Identity:
Copy of Aadhaar card/ passport of all the designated partners
Copy of PAN card of Entity
Copy of PAN Card of all designated partners
Proof of Constitution of Business:
Certificate of Incorporation
Bank Certificate as per ANF 2A(I) or a canceled cheque
Proof of Principal place of business:
Own office: Sale deed, copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
Rented or leased office: Electricity bill or Rent/leased agreement and NOC (No objection certificate) from the owner.
Companies
As a proof of Identity:
Copy of Aadhaar card/ passport of all directors
Copy of PAN card of Entity
Copy of PAN Card of all directors
Proof of Constitution of Business:
Certificate of Incorporation
Details of Bank account:
Bank Certificate as per ANF 2A(I) or a canceled cheque
Proof of Principal place of business:
Own office: Sale deed, copy of electricity bill/water bill/landline bill/ property tax receipt/a copy of municipal khata
Rented or leased office: Electricity bill or Rent/leased agreement and NOC (No objection certificate) from the owner.
Process of Import Export (IEC) Registration
More Insights on Import Export Code
Exemption from IEC Registration
- An Import Export Code is required for import or Export of any type of goods by a business. However, the following category of persons are exempted from obtaining an IE Code:
- Importer and export by central Government or agencies or undertakings for defense purpose or other specified lists under Foreign Trade (exemption from the application of Rules in certain cases) Order, 1993.
Import or Export of Goods for personal use.
Validity
- Import Export Code is valid for the life-time of entity and does not require renewal.
- IE code is needed by the custom authorities to clear the shipments in the case of any imports.
- Also, it is needed by the bank to transfer the amount in the case of any exports/imports made.
- In case exporter needs to send the shipments, then it is required.
- When the exporter is supposed to receive money in foreign currency and it is transferred directly into his bank account.
Penalty
Import Export Code registration is not mandatory, only persons who do import and export of goods or services must have Import Export Code. Therefore, there is no penalty for not having the Code; however, import / export will not be possible if you don’t have Import Export code.
FAQs on Import Export Registration
Import Export Code Registration obtained from the DGFT in 1-2 working days after submission of all required documents and application.
Yes you can, IEC registration only requires to have a business of Export or Import no matter if you are having a company, a firm or even sole proprietorship. Individuals acting as Proprietors of a business can obtain IE Code Registration.
No, there is no requirement of filling any return for Import Export Code.
No only 1 IEC can be issued to a person or entity. So if more than one IEC code is issued, then the same should be surrendered for cancellation.
Yes you can surrender the registration you just need to inform the issuing authority about such decision. And they shall immediately cancel your IEC number after checking all the records.
If you want to modify any details in IEC license, then you can do it online in your IEC application. IEC modification requires to resubmit the application with the DGFT once again with all the required documents. We also need to pay the IEC Modification fee with the department.