Easy Online IEC Code Registration with Finaccle.
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Introduction
Every import/export business owner in India needs an import export code, which is a unique 10-digit code. The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce and does not require filing or renewal.
Importers need IEC to clear customs and export their goods, as well as to transfer money to overseas banks. Exporters must have an IEC in order to send shipments and receive funds from overseas banks. In a nutshell, no importer or exporter can do business in India without first obtaining an IEC.
When required?
When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
When an exporter receives money in foreign currency directly into his bank account then it’s required by the bank.
When an importer sends money abroad through banks then it’s needed by the bank.
When an exporter has to send his shipments then it’s needed by the customs port.
Benefits
NO RETURN FILING:
The IEC does not need any returns to be filed. There is no necessity to follow any form of protocol to maintain its validity once it has been assigned. There is no requirement to file any returns with the DGFT for export transactions.
BUSINESS EXPANSION:
IEC assists you in taking your services or product to the global market and growing your businesses.
SEVERAL BENEFITS:
On the basis of their IEC registration, the companies could receive many incentives for their imports/exports from the DGFT, Export Promotion Council, Customs, and others.
EASY PROCESSING:
It's relatively simple to get an IEC code from the DGFT within 10 to 15 days of submitting an application. It is not necessary to submit proof of any export or import in order to obtain an IEC code.
NO RENEWAL REQUIREMENT:
The IEC code is valid throughout the life of the entity and does not need to be renewed. An entity could utilise it against all export and import transactions once it has been obtained.
Documents required
01
Proprietorship
Digital Photograph (3x3cms) of the Proprietor.
Copy of PAN card of the Proprietor.
Copy of Passport (first & last page)/Voter?s I-Card/ Driving Licence/UID (Aadhar card) (any one of these).
Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
Bank Certificate as per ANF 2A(I)/ Cancelled Cheque bearing pre-printed name of applicant and A/C No.
02
Partnership firm
Digital Photograph (3x3cms) of the Managing Partner.
Copy of PAN card of the applicant entity.
Copy of Passport (first & last page)/Voter's I-Card /UID (Aadhar Card) /Driving Licence/PAN (any one of these) of the Managing Partner signing the application
Copy of Partnership Deed.
Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
Bank Certificate as per ANF 2A (I)/Cancelled Cheque bearing pre-printed name of the applicant entity and A/C No
03
LLP or Private Limited Company or Section 8 Company
Digital Photograph (3x3cms) of the Designated Partner/Director of the Company signing the application.
Copy of PAN card of the applicant entity.
Copy of Passport (first & last page)/Voter's I-Card /UID (Aadhar Card) /Driving Licence/ PAN (any one of these) of the Managing Partner/Director signing the application.
Certificate of incorporation as issued by the RoC
Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity or telephone bill.Copy of PAN card of the applicant entity.
Bank Certificate as per ANF 2 A(I)/Cancelled Cheque bearing pre-printed name of the company and A/C No.
04
Society or Trust
Digital Photograph (3x3cms) of the signatory applicant/Secretary or Chief Executive.
Copy of PAN card of the applicant entity.
Copy of Passport (first & last page)/Voter's I-Card /UID (Aadhar Card) /Driving Licence/ PAN (any one of these) of the Secretary or Chief Executive/ Managing Trustee signing the application.
Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
Registration Certificate of the Society / Copy of the Trust Deed
Bank Certificate as per ANF 2A(I)/Cancelled Cheque bearing pre-printed name of the Registered Society or Trust and A/C No.
HUF
Digital Photograph (3x3cms) of the Karta.
Copy of PAN card of the Proprietor.
Copy of Passport (first & last page)/Voter's I-Card/ UID (Aadhar card)/ Driving Licence (any one of these) of the Karta.
Sale deed in case business premise is self-owned or Rental/Lease Agreement, in case office is rented/ leased or latest electricity /telephone bill.
Registration Certificate of the Society / Copy of the Trust DeedBank Certificate as per ANF 2A(I)/ Cancelled Cheque bearing pre-printed name of applicant and A/C No.
Validity of registration
IE Code registration is a one-time registration that is good for the rest of your life. As a result, updating, submitting, and renewing IE Code registration will be a breeze. It remains in effect until the business ceases to exist or the registration is withdrawn or relinquished.
Furthermore, unlike tax registrations such as GST or PF, the importer or exporter is not required to complete any filings or adhere to any other compliance requirements such as annual filing.
Process Involved
01
Step 1: All the required documents, including bank details and DSC, have to be submitted
02
Step 2: The online IEC application form will be filed with the Directorate General of Foreign Trade (DGFT)
Step 3: Once the documents and application are verified by the authorities, the import export code will be granted as a soft copy to the entity.
Why Companies Trust Finaccle
Finaccle provides one-stop integrated Financial-Accounting-Legal solutions to its clients.
You get all Financial, taxation, Accounting and legal solution under one roof.
We provide End-to-End Support for the registration process.
We ensure seamless paperwork.
Quality is what we pursue.
We are always Accessible, Approachable and Accountable.
You can connect with us through mail, what's app, call or personal visit.
We shall provide you the result that will move you.
Got a question?
We've got answers.
Can a person/entity have more than 1 IEC code?
No. Only 1 IEC is issued to a person/entity. So if more than 1 IEC code is issued, then the same should be surrendered to the Regional Office for cancellation.
Can I surrender my IEC number?
Can individuals obtain IEC?
How long does it take to obtain an IEC code?
Is Digital Signature Certificate (DSC) required to apply for IEC?