The IEC Code represents Import Export Code, it is a one-of-a-kind 10 digit enrollment code given by the Government of India’s Directorate General of Foreign Trade (DGFT) (Ministry of Commerce and Industries).
The IEC number is essential for any import trade business in India, as it makes it simple to follow and oversee shipments. This exchange generally relates to labor and products. There are, notwithstanding, special cases when the IEC Code isn’t needed.
IEC and PAN Number
In August 2018, the IEC Code was incorporated with PAN Card in light of different web program-related issues looked at by candidates.
However, since the new arrangement given by the public authority, GST isn’t required for the IEC Code. Subsequently, the new IEC Code number is an electronic-IEC Code (e-IEC) which can be applied on the web and is equivalent to the PAN number of the candidate.
Likewise note that after the August 2018 DGFT notice, different changes have been made to the strategy and method for the IEC application.
Could one commodity/import without an IEC code?
You can’t send out/import anything without IEC Code. IEC number is a mandatory required code for commodity and import business substances, it additionally smoothes out the administration and following of shipments.
The exporter/merchant is expected to statement the IEC Number while sending shipments. The current record, as well, requires the IEC number for moving assets.
Why IEC Code is required?
Recorded here are a portion of the significant advantages of having an IEC Certificate:
Any individual can get an IEC Code, by applying for it before the beginning of their commodity activities.
Once given by DGFT, the IEC Code legitimacy stays for a lifetime and doesn’t terminate, nor it should be reestablished by the IEC code holder.
Having an IEC Code doesn’t expect you to record any return and you really want not illuminate the DGFT about the exchanges made utilizing the IEC Code.
Having an IEC makes you qualified for different advantages from Customs, the Export Promotion Councils (EPC), and the DGFT now and again.
For example, an exporter can without much of a stretch view the ebru for trade exchanges utilizing their IEC code that determines whether the organization is qualified for impetuses under different product plans
The IEC turns into your pass to grow your new product business as it is a universally perceived distinguishing proof checking you as an enrolled exporter, which empowers you to
There is no yearly upkeep cost or charge associated with holding the IEC code.
By utilizing an IEC code, all your product dealings stay archived and you can undoubtedly demonstrate your organizations’ consistency when it is looked for by specialists. Hence, utilizing an IEC Code expands your validity.
The most common way of getting an Import Export Code Certificate is exceptionally basic. It very well may be done on the web or, as referenced prior, as a PAN-based enlistment process. The archives expected for the IEC Code enrollment are clarified in the following area.
What are the archives expected for IEC Code online application?
As referenced above, the documentation required for a new e-IEC application is very straightforward.
Bank Certificate for IEC Code – ANF-2A (See Figure 1) or a Pre-printed Cancelled Check
Address Proof of the firm
Recommended read: public limited company
Deal deed/Rent understanding/Lease deed/Electricity charge/Telephone landline bill/area/Mobile postpaid bill/MOU/Partnership deed – any of these reports (contingent upon the sort of business element you have picked)
Aadhaar Card/Passport/Voter ID – any of these archives can be utilized on the off chance that the candidate claims a Proprietorship concern
A No Objection Certificate (NOC) from the proprietor of the organization’s premises/area for the organization, alongside the Address Proof, ought to be submitted as a solitary PDF archive – in the event that the Address Proof isn’t for the sake of the candidate organization.
The record ought to be transferred in computerized design – PDF or JPEG, and the size of the document shouldn’t surpass 5MB. The archives need not have an advanced mark.
Do’s and Don’ts while applying for an IEC Code
In the event that you can’t finish the application at a time, you can save and later proceed to some degree finished application structure. You can likewise reapply against a dismissed structure in this interaction.
Keep the Customer and ECOM reference numbers convenient, essentially till the IEC is given.
While joining supporting records you can see and erase transferred documents, whenever required.
Check the rundown of organizations that don’t need an IEC Code before you go through the application cycle – – you could possibly get an exclusion.
Try not to apply more than one Importer Exporter Code (IEC) code against a similar PAN and business.
While applying for IEC Code, do give exact data – candidates could confront correctional and lawful activity for outfitting unfair or inadequate data.
When the e-IEC is given, you can do IEC Code adjustment to your profile through the DGFT site/entry assuming that there are any progressions to the data put away. Attempt to do as such somewhere around one time per year, regardless.