After your final application is approved, the government will provide you a soft copy of the Import Export Code, or IEC Code.
Get your IEC registration and renewal done in the comfort of your own home.
When preparing to import or export from India, an Import Export Code license is one of the requirements. Importer-Exporter Code is another term for it. Anyone planning to start an import/export firm in India will need to obtain an IEC. The Director-General of Foreign Trade is the one who issues it (DGFT). It’s a ten-digit code that must be refreshed every year. Importer merchants are unable to import products unless they have an IEC. Similarly, exporting merchants who do not have IEC are unable to benefit from the DGFT export scheme.
With IEC, you may take your services or products to a global market and dramatically increase your business.
You do not need to file any returns or do anything else to keep your IEC valid once it has been assigned to you.
After completing the application, obtaining an IEC code from the DGFT is relatively simple and takes 10 to 15 days.
The IEC code is only valid for one year and must be renewed every year. It can be applied to all export and import transactions by an entity.
To begin, create an application form in the required format (Aayaat Niryaat Form ANF-2A format) and submit it to the appropriate DGFT Regional office.
Note: All of the above details must be the same as the registered IEC License.
Many individuals believe that different IEC codes for import and export are required, although this is not the case. Import and export require only one registration, and the same Import Export Code (IEC) number can be used for both importing and exporting.
Most individuals believe that IEC is only required for the import or export of products. However, it is required for both commodities and services. A service’s import or export is also an international transaction. As a result, anyone offering services outside of India must submit an online IEC application and obtain an Import Export Code.
The DGFT recently announced that every IEC holder must ensure that their Import-Export code data are updated online every year between April and June. Even if there are no modifications throughout the course of the year, the same must be certified online each year. The deadline to renew your IEC is July 31, 2021.
In the past, the Import Export Code was assigned a separate number by the IEC department. The Ministry recently announced adjustments as a result of which an applicant’s PAN will be the IEC registration number. As a result, the PAN and IEC numbers will be identical. The Ministry will register the applicant under IEC and give an approval letter as soon as possible, informing them of their IEC number, which will be PAN.