IMPORT EXPORT CODE
Today is the era of globalization and in today’s time every person wants to expand its business. Expanding the business beyond the territories of the country means export and import which can be of goods as well as services.
Import-Export being an international sector is regulated DGFT- Director General of Foreign Trade, Ministry of commerce, Government of India and it makes mandatory for entities involved in Import and Export of goods and Services to acquire an IEC code.
IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade.
Who is required to obtain IEC?
- Every importer or exporter is required to obtain IEC code.
Who is not required to obtain IEC?
- Person exporting or importing goods for personal use and not for activities related to business.
- Persons exporting or importing goods to/from Nepal or Myanmar through Indo-Myanmar border areas, a value of which does not exceed Rs.25,000/- in a single assignment.
- Ministries or departments of central government
Procedures to obtain IEC:
- File an application in form ANF2A online to get IEC number along with necessary documents.
- If authority finds your application complete, then IEC code or license can be issued to you within 1 week.
Quick facts about IEC:-
- IEC is applied online.
- Only one IEC is issued against one PAN card.
- Once an IEC license is issued, it shall be valid forever.
- One IEC shall be valid for all branches/units/factories/division.
List of documents required are as under:-
In case of fresh e-IEC
- Digital Photograph (3x3cms) of the Signatory Applicant
- Self attested Copy of PAN card
- Bank Certificate or cancelled bearing the applicant entities name
What do we do?
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