IMPORT EXPORT CODE (IEC) REGISTRATION SERVICES
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At K. M. Gatecha & Co. LLP, we not only provide the best services for IMPORT EXPORT CODE (IEC) REGISTRATION SERVICES but also believe in helping our clients make an informed decision regarding the services they want to avail. That is why we explain to our clients, all the details and solve all your doubts and apprehensions regarding the services. All the companies currently want to expand and increase their business in one form or the other. There is no place for a company that stay stagnant or does not grow. One of the fastest methods of growth is to grow beyond borders and venture into other countries and thus serving a bigger market. Although it sounds very profitable and exciting prospect the reality of doing so is not so simple or straightforward. Expanding to other countries requires an organization to follow various laws and procedures that are in place and get registrations and license in the market they are going to expand into. Make this process hassle-free, simple, and straightforward, we at K. M. Gatecha & Co. LLP offer our expert and efficient services to our client for the purpose of Import Export Code registration.
IMPORT EXPORT CODE (IEC) REGISTRATION SERVICES
What is IMPORT EXPORT CODE (IEC) REGISTRATION SERVICES?
- Import Export Code or commonly known as IEC is a prerequisite license required by any organization which is looking to expand into other market via import or export.
- IMPORT EXPORT CODE (IEC) is issued by Director General of Foreign Trade (DGFT).
- It is a 10-digit code which has a lifetime validity.
Who requires an Import Export Code (IEC)?
- Any person who/company which is planning to import or export goods commercially requires the mandatory IEC,
- Any commercial import/export is illegal without IEC.
Process of IEC Registration:
- Filling up Application form,
- Uploading Required Documents,
- Filing the application form and paying the required fees,
- Resolving any queries,
- Final issuance of certificate/code by email.
When is IEC required?
- IEC is required by customs authorities when importer must get his/her shipment cleared from customs.
- When importer sends payment to other countries via banks at that time bank requires the IEC code.
- Similarly, when an exporter sends his shipment to other countries the customs authorities require this code.
- The banks also require this code to receive payments on exporter’s behalf.
How to get Import Export Code?
- Application form
- The application form for an Import Export code needs to be prepared in a specific format prescribed by the DGFT.
- After the application form is prepared then it needs to be submitted to regional office of Director General of Foreign Trade (DGFT)
- Various documents are to be prepared according to the list prescribed by the DGFT.
- This list includes
- Identity proof,
- Legal entity proof,
- Address proof for the Entity,
- Bank details,
- Certificate in respect to Aayaat Niryaat Form ANF-2A.
- Filing Application
- Once the application is complete, the application is to be filed with DGFT with a DSC (Digital Signature Certificate)
- IEC code is issued
- If the above steps are completed and no queries are raised by DGFT then the IEC code is issued in a soft copy format by the Government.
Benefits of IEC registration
- Expansion of business
- IEC equips an organization to expand their business by enabling them to enter markets outside their home country.
- Avail several benefits
- The companies can avail of various benefits of their imports/exports from the DGFT, Export Promotion Council, and Customs etc. based on their IEC registration.
- No returns need to file
- IEC does not require any filing of returns.
- After IEC is issued there are no procedures that need to be followed to sustain its validity.
- Even for export transactions, no returns need to be filed with DGFT.
- No need for renewal
- IEC code’s validity is for a lifetime for the Entity that has acquired it and requires no renewal.
- IEC code empowers a company to avail of benefits from various departments such as: –
- Director of foreign trade
- Exports Promotion Council,
- Customs etc.
Still no Sure?
Contact K. M. Gatecha & Co. LLP for expert advice and assistance for Import Export Code registration.
FAQS-IMPORT EXPORT CODE (IEC) REGISTRATION SERVICES
- Any individual or organization which plans to expand in any other market outside home country (India) whether it be for export or import, required the Import Export Code.
- The IEC code is not required in case a person is importing goods for personal use and not commercial use.
- IEC code empowers an organization to export or import goods hassle-free and enables them to avail of various benefits provided by DGFT, Export Council or Customs Department.
- No, there are no regulations or requirements to sustain an IEC, the validity of the IEC will remain for the lifetime of an Entity or Organization until surrendered.
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