Import Export Code (IEC) Registration in India at Rs. 2499/- only.An Import-Export code is a mandatory for businesses that deals with import-export Trade. The Director-General of Foreign Trade (DGFT) issues this license.
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What is Import Export (IEC) Code ?
With the increasing competition, everyone wants to grow and expand their business beyond the limits of the domestic market. Before going global, you need to follow several procedures and laws in place and get different registration and license.
IEC (Import Export Code) license is one of such prerequisite when you’re thinking of importing or exporting from India. It is a 10-digit code that a business or a person needs to import/export goods/services. This code is issued by DGFT (Director General of Foreign trade), Ministry of Commerce and Industries, Government of India. The validity of this code is for lifetime, that is, there is no need to renew it. This code is generated within 7-8 working days after the documents are submitted and all the corrections required are made. once issued, it is valid for all its division/units/factories/branches.
When is IEC required?
- It is needed by the custom authorities to clear the shipments in the case of any imports.
- It is needed by the bank to transfer the amount in the case of any imports made.
- It is needed by the exporter to send the shipments.
- It is needed by the exporter who is supposed to receive money in foreign currency and it is transferred directly into his bank account.
Procedure for IEC Code Registration
Complete our requisition form
You are required to fill the details in our simple online form and submit documents.
Documents Verification
After submission, we will verify documents and send a draft application to you.
Submission of form
Once documents and fees received we will file the form to Concerned DFGT.
Approval of IEC Code
Once your application is approved then you would receive the IEC Code in a soft copy in 5-7 days.
Benefits of IEC Registration
- Expansion of Business: IEC assists you in taking your services or product to the global market and grow your businesses.
- No Filling of return: IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of processes for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.
- Easy Processing:It is fairly easy to obtain IEC code from the DGFT within a period of 7-8 working days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.
- No need for renewal: IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions. You have to update once in a year.
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