The Importer Exporter Code (IEC) is a key business identification number required for export or import in India
Importer Exporter Code (IEC)
Outline
The Importer Exporter Code (IEC) is a key business identification number required for export or import in India. Without this code, no person or entity can engage in international trade activities. Issued by the Directorate General of Foreign Trade (DGFT), IEC is essential for anyone looking to establish a presence in global markets.
Why IEC Registration is Important?
IEC registration is crucial for several reasons:
1.Global Market Access: It allows businesses to expand their operations beyond domestic borders.
2.Government Benefits: IEC holders can avail of various government schemes and benefits.
3.Ease of Compliance: Simplifies compliance with customs and regulatory authorities.
4.No Annual Maintenance: Once issued, IEC does not require renewal or any maintenance fees.
Eligibility for IEC Registration
To obtain an IEC, applicants must meet the following criteria:
1.Business Entity: IEC can be issued to an individual, company, partnership firm, LLP, or HUF.
2.Permanent Account Number (PAN): A PAN card is mandatory.
3.Bank Account: An active current account in a bank for business transactions.
4.Business Address: A valid business address proof.
Documents Required for IEC Registration
The following documents are required for IEC registration:
PAN Card of the applicant entity
Passport size photograph of the applicant
Copy of the applicant’s government-issued ID (Aadhaar card, passport, or voter ID)
Bank certificate or a cancelled cheque of the entity
Proof of address (electricity bill, rent agreement, or sale deed)
Steps for Online IEC Registration
Step | Description |
Step 1 | Visit the DGFT website (https://www.dgft.gov.in) |
Step 2 | Click on ‘Apply for IEC’ |
Step 3 | Register with your PAN and create a login ID |
Step 4 | Fill out the application form with required details |
Step 5 | Upload scanned copies of required documents |
Step 6 | Pay the application fee online |
Step 7 | Submit the application and note the reference number for future reference |
Step 8 | Track the status of your application online |
Step 9 | Receive IEC via email once the application is approved by DGFT |
Benefits of IEC Registration
1. Expansion of Business: Allows for the international expansion of your business.
2.Availing Government Schemes: Access to various export-import related government schemes.
3. Ease of Import and Export: Simplifies procedures at customs and ports.
4. No Compliance Burden: No annual maintenance required once the code is issued.
Fee Structure for IEC Registration
The fee for IEC registration is minimal and is structured as follows:
Fee Type | Amount (INR) |
IEC Application Fee | Rs. 500 |
Conclusion
IEC registration is a crucial step for any business looking to expand its operations internationally. By obtaining an IEC, businesses can enjoy various benefits, including ease of trade, access to global markets, and eligibility for government schemes. Udyog Buddy offers comprehensive assistance in obtaining your IEC, ensuring a smooth and hassle-free process. Contact us today to get started on your journey towards international trade.
Why Choose Udyog Buddy ?
Udyog Buddy is a team of experienced professionals, our end-to-end service model, combined with personalized support, makes the incorporation journey straightforward and stress-free. Additionally, our commitment to cost-effective solutions and time efficiency allows businesses to focus on growth and operations without unnecessary delays or financial strain. Choosing Udyog Buddy means partnering with a trusted expert dedicated to helping your business succeed from the very start.
Connect with us for any queries
Call/WhatsApp +919301789019 or E-mail at hello@udyogbuddy.com
What Other Services We Offer
We provide the best service by delivering exceptional quality, exceeding expectations, and prioritizing customer satisfaction.
Private Limited Company
Limited Liability Partnership
One Person Company
GST Registration
For certain businesses, GST registration is mandatory. If any organization carries on the business without registering under GST, it is an offence under GST and heavy penalties will apply.
Startup India Registration
Start-up India is a flagship initiative of the Government of India, intended to catalyse Start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India.
FSSAI Registration
Obtaining an FSSAI license is mandatory before starting any food business operation in India. All the traders, manufacturers, etc. who are involved in the food business must obtain a FSSAI Number.
ISO Registration
ISO refers to International Organization for Standardisation. ISO Certification is mandatory to form certain standards that ensure the quality, safety, and efficiency of products and services.
Trademark Registration
A trademark can be any word, phrase, symbol, design, or combination of these things that identifies your goods or services. Get your Trademark application filed within 24 hours.
Copyright Registration
With copyright registration, you become a legal owner of your creative work in respect of books, paintings, music, website, etc. It secures the creative work of the author.
ITR Filings
Get an expert to do your taxes with an end-to-end online assistant. Take the first step towards income tax e-filing and file it today!
Agreement Drafting
Simplify your Complicated Documentation with us. We offer all types of documents whether it’s an Agreement, Contract, Affidavit, Notice or many more.
