Overview of Import Export Code?

A person who is exporting or importing products must have an import export code. The Directorate General of Foreign Trade issues it as a ten-digit code (DGFT). Import Export Code registration is required for all enterprises involved in the import and export of commodities. The validity of an Internet Explorer code is indefinite. Importers are not permitted to proceed without this code, and exporters are not eligible for export incentives from the DGFT, Customs, or the Export Promotion Council until they have this code.
Importers must quote the IEC Code when clearing customs. When sending money abroad, banks also demand the importer’s Import Export Code. The IE Code must be quoted by exporters when sending shipments. When banks receive money from abroad, they require the exporter’s IEC Code. Import Export Code Registration is available in Delhi NCR, Mumbai, Bengaluru, Chennai, and many other Indian cities through REGISTRATION ARENA.

IEC stands for Import Export Code and is also known as importer exporter code, import-export code, import-export licence, import-export number, IEC code, IEC licence, IE licence, and so on. Import Export Code No. is a ten-digit code issued by the DGFT and necessary for import-export transactions. You can use IE code in your own or your company’s name.
An applicant’s IEC number is valid for all of its divisions, units, factories, and branches. There is no need to renew an IEC because it is valid for life.

Features of Import Export Code

  • All importers who import goods are required to register IEC code and all exporters need this code to obtain the benefits of exports.
  • Import Export Code holder does not require the filing of any returns.
  • Import Export Code is issued for a lifetime and therefore no renewal is required.
  • Even individuals who are proprietors can obtain the code in their name. Setting up a business for the same is not required.

Documents Required For Import Export Code

Depending on whether your firm is a sole proprietorship, partnership, limited liability company, or corporation, the documentation required differs slightly. Here’s a list of the documents you’ll need for each one.

PROPRIETORSHIP

PAN card copy; proof of identity (passport/voter id/driving license / aadhar card); proof of address (sale deed for self-owned; or rental / leasing agreement + power bill or telephone bill); Bank certificate (see below) or canceled check with applicant’s name and bank account number printed on it.

PARTNERSHIP

Photograph (3×3) of managing partner; PAN card copy of partnership firm; ID proof (passport/voter id/driving licence / aadhar card / PAN of a managing partner whose signature is on application); Address proof (sale deed for self-owned; or rental / lease agreement + electricity bill or telephone bill); Bank certificate (see below) or cancelled cheque with printed name of applicant firm and bank a/c number.

LLP AND COMPANY (BOTH PUBLIC AND PVT LTD)

PAN card copy of applicant LLP or firm; ID evidence (passport/voter id/driving license / aadhar card / PAN of partner or director whose signature is on application); ID proof (passport/voter id/driving license / aadhar card / PAN of partner or director whose signature is on application); Incorporation certificate; Proof of address (self-owned sale deed; or rental / leasing agreement + power bill or telephone bill); canceled check with printed name of applicant firm and bank account number (see below) or bank certificate (see below).