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Import Export Code?
A person who wants to start importing export business in India requires to Import Export Code (IEC). The Director-General for Foreign Trade (DGFT) shall issue the IEC Code. It’s a 10-digit, life-long code. Mostly importers merchant can’t import any goods without the IEC Code and export merchant can’t take advantage of the export scheme benefits from the DGFT Department etc.
When is Import and Export Registration is Requires?
- If importers are required to clear the shipments from the customs, the customs will require it.
- When importers send the money through banks to foreign countries, the banks require it through SWIFT Code.
- If exporters are needed to ship the goods then the customs port requires them.
- When exporters got the cash straight into the company in overseas exchange, the companies required it.
Registration Package for Import and Export-Package
- Implementing the IEC Code Registration Documents.
- The Application approvals.
- Application processing.
- 10 + Templates of Premium Legal Agreement for your business.
Documents for Import and Export Registration
- An Individual Applicant
- Copy of Pan Card Personal or Company or Firm.
- Copy of personal aadhar card or voting I d or passport.
- Cancelation of check # # print by personal or business or business present bank account.
- Copy of rent agreement or sale of the duplicate of the basic electricity bill.
How to qualify for registration with import and Export code (IEC)
- First of all, we must prepare a request form in the prescribed format i.e. aayaat niryaat form 2A format and file it with the appropriate DGFT Regional Office.
- In the second step, the necessary documents relating to the applicant’s identity & address proof and legal entity proof must be prepared with bank details & certificates relating to ANF2A.
- In the third step after completion of the application, we file with the applicant’s DGFT through DSC and pay the appropriate IEC Registration fee or cost.
- Once you have authorized the request, you will receive the IEC Code from the government department in the soft copy.
Features of the IEC Registration
Global Exposure: IEC Code helps you grow your business from the local to the international market and expand your product or service worldwide.
Benefits of Govt: Govt of India is always promoting export exercise in India so you can use all the export system advantages from DGFT, Customs and Export Promotion Council through IEC Code Registration.
No Renewals: IEC Code issuing by the DGFT for lifetime validity so that you didn’t need to update each year so it’s a one-time enrollment charge.
No annual Compliance: IEC Code does not comply with annually such as filings of returns, etc. Even you didn’t show the transactions anywhere.
Individual Applicant: The IEC Code may also be obtained by the private person who did not require the legal entity to be registered.
How to Apply Import and Export Code Manually
You must apply to the DGFT Regional Authority in whose jurisdiction your registered office is located in Aayaat Niryaat Form 2A (ANF 2A) format.
Document Required for Apply in Aayaat Niryaat
- Bank Receipt / Demand Details as proof of deposit of Rs. 500/-registration tax. DD drew in Zonal DGFT’s favor.
- Certificate from the banker of the applicant enterprise in the specified format.
- Self-certified copy of Permanent Account Number (PAN) provided by tax authorities for income tax purposes. (Only one IEC shall publish for a PAN no.)
- Two versions of the applicant’s passport-type pictures. The photograph on the certificate of the banker should be certified by the applicant’s banker.
- Self-addressed Rs.15/-(Local Address) & Rs.20/- (Outstation) box.
- Address the applicant company / individual proof.
- Partners / Director / Executor Details & their full information, branch list, licensed bank, head office and plant located in India & abroad with touch information.
Private and Public case of Limited companies Ltd:
- Board Resolution Extract in direct violation of the applicant.
- Association Directive along with Incorporation Certificate.
- Forms 32 in the case of a change of directors and forms 18 in the case of a change of registered office-whatever the case may be. # 9 For Partnership Company:
- Notarized Partnership Act displaying the company’s date of creation.
- No other Partners / HUF Objection Certificate.
- You can download from gov.in the application form and search for “Application Form for Issue Importer Exporter Code Number (IEC)” or use this link or you can get a form from any DGFT regional office.
- You can send the completed application to your regional DGFT office with all the required document or you can send it to the regional DGFT office.
- A file amount will provide to you and you can use it to verify your request position at dgft.gov.in.
Online Procedure for Applying for Import And Export Registration
- A duly completed application form must be submitted online on the official website of DGFT along with the required documents. These papers should only be available in pdf format.
- The following document should have been scan in gif size that should not exceed 300 KB: PAN (Both side), Photo, and Bank Certificate.
- Exporters must have a net banking account with one of the banks below such as HDFC, ICIC, Bank of INDIA, STATE BANK, CENTRAL BANK, IDBI BANK, PUNJAB NATIONAL BANK, AXIS BANK, AND UNION BANK.
- Click on the “IEC Online Application” button on the DGFT website.
- You must register your PAN amount afterward. Select ‘ Create ‘ from the ‘ File ‘ menu to create a new IEC application.
- The new ECOM Reference No will then be displayed.
- You must then fill in your details such as the applicant’s name and designation, address, pin code, telephone number, email address, establishment date, PAN Issuing authority, banker name, bank account number.
- You will need to make an Rs.250 payment through the selected banks ‘ online fund transfer.
- Uploading records centered on your organization, e.g. corporation, sole proprietor, association, PAN card, photograph, and loan certificate, is compulsory for all candidates.
- PANC for PAN Copy upload
- Photo to upload an Applicant’s photo
- BKYC uploading copy of the bank certificate
- MOAS upload the Association Memorandum
- EBRA for uploading Board Resolution Extract
- FM32 to upload Form 32 when the Directors are changed
- FM18 to upload Form 18 where applicable when changing registered office.
- AOTH upload, if necessary, any other appropriate material.
- ANFP will always be disabled.
- NRID uploading the letter of approval from the RBI. (Applicable for NRI)
The required documents are full and you will receive your IEC in one or two quarters from DGFT.
If one wants to modify IEC then if a request for modification is made within 90 days then no fee is payable but if, after 90 days, Rs. 1000 has to be pay to the regional authority concerned in the form of a request proposal. The Online and Offline Procedure for obtaining the Import Export Code mention above. Hopefully, this article will help you to apply for the Import Export Code