IMPORT EXPORT CODE REGISTRATION @ Rs 1500
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Shoplegal is a premier professional firm aiding entities in securing Import Export Code (IEC) registration. With over a decade of experience in DGFT, we offer expert assistance in this domain.
Import Export Code (IEC) is essential for individuals or entities engaged in importing or exporting goods and services to and from India. DGFT, under the Directorate General of Foreign Trade, issues the IEC. Once obtained, the IEC remains valid throughout the entity's existence and doesn't necessitate monthly or annual filings. Obtaining the IEC at the outset is highly recommended for trading entities planning to venture into exports.
Who Requires Import Export Code (iec)?
Importers of Good or Services require IE code
The Import Export Code (IE Code) is an essential document required for customs clearance of goods. Any entity operating in India and involved in importing goods must obtain the IEC (Import Export Code) as a mandatory requirement.
Exporters of Good or Services require IE code
The Import Export Code (IE Code) is a fundamental document necessary for dispatching shipments. Any entity operating in India planning to export goods must obtain the Import Export Code (IEC) as a mandatory requirement.
Advantages of obtaining IEC
NO renewal required :
Once obtained, the Importer-Exporter Code (IEC) requires no renewal. Your IE code remains valid as long as your entity exists, enabling unlimited transactions for both exports and imports.
Return filing not required :
Unlike GST, once you acquire an IE Code, there's no obligation to file returns. Even when using the IE Code for importing or exporting goods, there's no requirement for return filing.
Individuals can obtain IE code:
Individuals can secure an IE Code under their name, bypassing the need to create a new business entity just for obtaining the code.
Modification In IEC
To modify any details in the Import Export Code (IEC) for a business entity, it's essential to submit the necessary documents along with the required changes.
Documents Required For Iec
Proprietorship
Proprietor PAN- Cancelled cheque
- Id proof
- Address proof
- Office Rent Agreement
Partnership
- Firm PAN copy
- Cancelled cheque
- Id proof - Partners
- Address proof
- Office Rent Agreement
PVT Company
- Company PAN
- Cancelled cheque
- Id proof - Directors
- Address proof
- Office Rent Agreement
LLP
- Firm PAN
- Cancelled cheque
- Id proof - Partners
- Address proof
- Office Rent Agreement
FAQ on IECode Registration
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Is IE Code (Import / export code) compulsory for import of goods?Yes. Obtaining IE code before Import export code of goods is mandatory.
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Under what circumstances IEC is not required to be obtained?Items are brought in for personal use, unrelated to business activities or trade. Products are brought in by a government ministry or department.
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Is IEC required for both Good and Services?
Yes. IEC is required for both Goods and Services.
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Is it possible to get more than one IE code for a single pan?No. It is not possible to obtain more than one IE code for a single PAN.
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Is there any renewal or return filing required for IEC?The Import Export Code is a one-time license that remains valid for a lifetime, and there's no need to file returns for the obtained IEC.
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What is ITC codes and How to find the respective ITC code for our product?ITC codes, also referred to as Indian Trade Classification or HS Codes, have been embraced in India for import-export processes. Indian Customs issue Eight Digit ITC(HS) Codes tailored to meet the trade needs of India.
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Is import through courier allowed?Importing items through a registered courier service is permitted, but it must align with regulations outlined in the Foreign Trade Policy regarding the import eligibility of such items.
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What is the procedure for import of goods along with the passenger baggage?
Household items and personal effects can be brought in as part of passenger baggage within specified limits and under the terms and conditions set by the Ministry of Finance.
Samples of items freely allowed for import under the Foreign Trade Policy can also be brought as part of baggage without needing prior approval.
For exporters arriving from outside India, certain items like patterns, drawings, labels, price tags, belts, buttons, and related materials can be imported as part of their baggage without requiring specific authorization.
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What are Restricted items in Import?
Goods that require specific approval, license, or permission to be imported or exported fall under the category of restricted goods.
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Is there any penalty on not having an IE code?
Importing or exporting without an IE code is not allowed, although there's no penalty specifically for not having one.