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Importer Exporter Code
Import Export Code (IEC) is a ten-digit number, comprising alphabets and numbers. IEC is a mandatory prerequisite to starting a business of Import or Export in India. The IEC code is a pan-based registration, hence against one pan number the director-general of foreign trade can issue only one IE Code. The IEC is a unique number through which a person is identified at all offices of Customs and DGFT across India. In general, all the Imports and Exports can be done without any other authorization, license, or permission, However in the national interest or to regulate the trade or any specific commodity, the central government may restrict or prohibit the import or export of certain goods. In case you wish to import any item which is restricted, an application for license or permission to import can be made to the DGFT explaining the specific reasons for the export or import.
IEC Full Form, Eligibility, Validity, Documents Required
Import Export (IE) Code India is the registration of import and export companies with the Indian Custom department that import and export commodities from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 – 20 working days or less.
Validity of IE Code
IE Code registration is permanent registration that is valid for a lifetime. Hence, there will be no hassles for updating, filing, and renewal of IE Code registration. It is valid until the business exists or the registration is revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing.
As IE code registration is one-time and requires no additional compliance, it is recommended for all companies and LLPs to obtain IE code after incorporation.
IE Code Exemption
An Import Export Code is required for the import of any type of goods by a business. However, the following category of persons are exempted from obtaining an IE Code:
- Importer and export by central Government or agencies or undertakings for defense purpose or other specified lists under Foreign Trade (exemption from the application of Rules in certain cases) Order, 1993.
- Import or Export of Goods for personal use.
Applying for IE Code
Para 2.08 of the Handbook of Procedure contains provisions relating to the application for IE Code. Vide public notice no. 27/2015-2020 dated 8th August 2018, the said para under-went an amended and the provisions of the amended para as applicable with regard to the application for IEC is provided hereunder –
- Exporters/importers shall file an online application in form ANF 2A.
- The applicant is required to submit only two documents; one is the address proof, and the other is the pre-printed cheque or bank certificate.
Address Proof
- Sale deed, in case the business premises is self-owned; or
- Rental/lease agreement in case the premise is rented/leased; or
- Latest electricity/landline/ mobile bill in the name of the applicant entity; or
- GST registration certificate; or
- In the case of a proprietorship, the following proof is valid –
- Aadhar card;
- Voters ID;
- Passport.
It must be noted that the above documents in support of address proof need to
be in the name of the firm, however, in case of a proprietorship, the address proof
in favor of an individual (i.e. proprietor) is acceptable
(Trade notice No. 39/2018-19 dated 12th December 2018).
| Proprietorship |
|
|---|---|
| Partnership firm |
|
| LLP or Private Limited Company or Section 8 Company |
|
| Society or Trust |
|
| HUF |
|
Bank Proof
It is has been clarified vide Trade Notice No. 39/2018-19 dated 12th December 2018 that a cheque without a pre-printed name of the account holder will not be acceptable. Further, the pre-printed cheque can be of a savings account or current account. It is to be noted that the above-referred documents need to be uploaded online in digital format-GIF, JPEG and the document size should not exceed 5MB.
Import Export Code Issuance
Once the online application is submitted, along with appropriate fees and requisite documents, IEC will be auto-generated. Intimation regarding allotment of IEC will be sent to an applicant via SMS and E-mail along with a hyperlink through which the e-IEC can be downloaded and printed. The IE Code certificate will only be provided digitally and can be downloaded from the link provided. An e-IEC holder needs to update his profile immediately after the issuance of an e-IEC. Further, in case of any change to the details mentioned in the IEC or in any other case, the profile update needs to be done at least once a year, as per para 2.15 of the Handbook of Procedure, 2015-2020.
Though the import-export code is auto-generated, the Regional Authority would conduct post-verification of the online IEC as per the guidelines. In case there is any wrong/incomplete information being furnished, the applicant would be liable for penal/criminal activity, and in such case, IEC would be either suspended or canceled.
RCMC Registration
Registration-Cum-Membership Certificate (RCMC) is a certificate that validates an exporter dealing with products registered with an agency/ organization that is authorized by the Indian Government. The certificate is issued for five years by the Export Promotional Councils or commodity board in India.
An exporter desiring to obtain an RCMC has to declare his mainstream business in the application. This application would be submitted to the Export Promotion Council/ Commodity Board relating to that line of business.
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Frequently Asked Questions
What is IE Code?
IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.
Is there a tax levied based on IE Code?
No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty may be levied.
What are the documents required for IE Code registration?
To obtain IE Code registration, a copy of the PAN Card, proof of address of business, and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a letter from the banker is required.
Why is IE Code required?
All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.
Who must obtain IE Code registration?
Any person who proposes to import or export goods and services from or to India must obtain IE Code.
How long does it take to obtain IE Code registration?
IE Code Registration can be obtained from the DGFT in 10-15 working days after submission of all required documents and applications.