Process to get IEC registration

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Process to get IEC registration

Every businessman would like to grow his business beyond the boundaries of the domestic market to generate more profit. Few decades ago, it was really tough to do business globally but nowadays, it’s pretty easy. However, various registrations and licenses need to be obtained before making a business global. IEC is one of such prerequisites.

What is IEC?

The IEC (Import Export Code) license is a code which is required by a person for exporting or importing goods. It is a 10-digit code which is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, GOI. It is a prerequisite for a businessman who is into a business of import and export. IEC is also known as Importer-Exporter Code.

Situations where IEC is required

IEC becomes necessary in the following situations:

• When an importer is required to clear his shipments from the customs, IEC is asked for by the customs authorities.
• When an importer transfers money abroad through his bank, IEC is then needed by the bank.
• When an exporter has to send his shipments, IEC is required to be provided to the customs port.
• When an exporter receives money in foreign currency directly into his bank account, then the bank asks the exporter for IEC.

Process & Documents Required for IEC

IEC is an inevitable requirement to obtain an Import Export Code (IEC). In order to obtain this license, the following process needs to be followed:

• As a first step, you must download form AAYAT NIRYAT FORM (ANF2F). This form is available online.
• The fee, in case of an online application, has to be paid through online mode only.

The following documents are required for obtaining IEC:

• A certificate is required from the banker on the letter head of the bank as per the format Appendix 18A with necessary details of the banker.
• A certified copy of the business PAN.
• While filing the form, you will be required to provide PAN, e-mail Id and mobile number of the applicant.
• After entering the details, you will get a separate registration code on the mobile number and email ID, only then you can proceed to fill part B and C
• You can save, edit or fill the form later based on your convenience. 
• Fill part B and C of the form carefully.
• After filling the signatory details, upload the photograph and other documents in JPG/GIF format.
• After reviewing the application, an application processing fee of Rs. 500/- has to be paid through debit or credit card or through net banking.
• In case you don't have digital signature, then follow step as follows:
• Take a print out of the duly filled application form.
• Add signature manually.
• Upload the duly signed form and also submit the printed and duly signed and filled application in the office of concerned regional authority by post or by hand.
• On submission, a confirmatory message or e-mail of receipt of application would be sent on your registered mobile number or email address.
• You can check your application status for IEC registration, by clicking on the application status Tab.

Alternatively, you can visit the official website of DGFT and apply for the IEC code there.

Benefits of IEC registration

Some of the benefits of IEC registration are the following:

• Expansion of Business: Import Export Code helps you to take your products or services to the international market which can help you to grow your business dramatically and reach new heights.
• Helps avail several benefits: It can help you to avail benefits of your imports or exports from the DGFT, Customs, Export Promotion Council and more, on the basis of your registration.
• Return filing not required: It does not require you to file any returns. Once IEC has been allotted, there’s no requirement to follow any kind of process for sustaining its validity. Even in the case of export transactions, there is no requirement filing any returns with DGFT.
• No need for renewal: IEC code comes with a lifetime validity. Hence, renewal is not required. Once this code is obtained, it can be used by any business for all the transactions regarding export and import.
• Easy processing: Obtaining IEC from DGFT is an easy process which takes about 10-15 after the application is submitted. There’s no need to provide any proof of export or import to get this code.

Conclusion

It is crucial for businesses that are planning to get into international trade to obtain the Importer Exporter Code (IEC). IEC is a 10-digit code issued by the Director General of Foreign Trade (DGFT) and serves as a gateway to the global markets by allowing export and export operations. It helps with custom clearance and ensures that the businesses are in compliance with the international trade rules and regulations. IEC comes with a lifetime validity, so you don’t have to worry about renewal. Looking for assistance in obtaining IEC for your business? You’re on the right page. Now, it’s time for you to connect with our Registrationwala team, so that you can sit back and relax while we do the hard work for you so you can obtain the IEC license without any hassle!

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