An import export code, a unique 10-digit code, is required for every import/export firm owner in India. IEC is a 10-digit code that can be found on the website of the Directorate General of Foreign Trade (DGFT). The code is issued by the Director-General of Foreign Trade (DGFT), Ministry of Commerce, and neither filing nor renewal are necessary.

IEC is required for importers in order to send money to overseas banks, pass through customs, and ship products. Exporters require their IEC to transport shipments and receive money from foreign banks. In India, in order to conduct business, importers and exporters must get the IEC.

Benefits of import export code

• The IEC code registration enables business owners to register with online e-commerce companies and otherwise enter the worldwide market.
• Businesses can take use of government programmes like Merchandise Export from India Scheme (MEIS), and the Service Export from India Scheme (SEIS) for services, among others from customs and export promotion.
• IEC can be acquired swiftly and simply with the simplest of paperwork.

IEC Registration process

You must complete the following IEC registration steps in order to obtain your import export license online.

Step 1: For import export licenses, the Certification Authority bestows a digital signature that is signed using the CA’s private key. PKI, or public key infrastructure, technology is used by digital signatures. You must submit all necessary paperwork, including your bank account information and your digital signature certificate. Typically, a digital signature includes the information like Public key information, including the owner’s name, public key expiration date, issuer’s name, serial number, and digital signature.

Step 2: Submit a form of application to the DGFT. The Directorate General of Foreign Trade will receive the online IEC application (DGFT). Users can go to the DGFT online portal to submit an application for IEC registration. Before completing the registration procedures, users must first establish a legitimate account on the aforementioned portal to fulfil this purpose.

Step 3: Submit the required documentation using the format specified. The candidate will be asked for the aforementioned documentation when filling out the application. Take the necessary steps to submit the materials in the format requested by the application form.

Also Read – Is GST Registration Mandatory for company

Step 4: After submitting the application form and application costs, go to the payment section to submit the required fees.

Step 5: The import export license will be issued to the firm as a soft copy for documentation examination after the authorities have verified the application and all related paperwork. The responsible authority must start the inspection procedure after receiving the IEC registration application in order to perform some legal checks.

Step 6: Following a successful review of the application and supporting evidence, the authority will grant the IEC registration.

Documents Needed for Registration of an Import Export Code

• PAN card of the company is required for import export licenses (but not in the case of the proprietor).
• Certificate of incorporation or partnership deed for an import-export license.
• The most recent Electricity Bills or Telephone Bills or Gas Bills or Mobile Bills, or any other utility bills as address proof.
• Bank statements or cancelled check are necessary for current account in business name.

Eligibility to Get IEC license

Regardless of size, any type of business registration, including sole proprietorships, partnerships, private limited corporations, and charitable organizations engaged in the import and export of goods, may apply for an import-export code. An IEC is not necessary for the import or export of products intended for personal use that are unrelated to commerce, manufacturing, or agriculture. An establishment of a business is not required.

Import-Export Code Exemption

• Individuals who import and export commodities for personal reasons and for purposes unrelated to commerce, agriculture, or manufacturing.
• The parties/individuals who import/export products to/from Nepal and Myanmar with a single consignment must not exceed the amount of Rs25,000 through Indo-Myanmar border areas and China (through Namgaya Shipkila, Gunji, and Nathula ports).
• The exemption from acquiring IEC for the export of materials, organisms, special chemicals, equipment, and technology is not applicable, as stated in appendix 3, schedule 2 of ITC (SCOMET).
• Departments and ministries of the federal and state governments.

How can LegalRaasta assist with IEC Registration?

• Our experts will guide you through the entire process, from filling out the checklist to processing the paperwork.
• We’ll keep you informed on the status of your application.
• Our experts will complete the import export code registration process quickly and affordably.
• Two-day IEC application submission guarantee in the DGFT office.
• We will help you fill out an online application for an import-export license.
• In only 3 simple steps, the IEC Registration Process is made simple and easy:

Also Read – What is The Import Export Code registration

1. Contact a member of our team.
2. Submission and document verification.
3. Inspection of the application is followed by the issuance of the certificate for import and export.

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What is IEC code registration?

Import Export Code (IEC), a 10-digit code provided by the DGFT (Director General of Foreign Trade), is a special identification number that is given to importers and exporters in India. This is true because without the IEC code, it is impossible to import or export the goods that businesses require. Without the Import-Export Code, merchants who are primarily importers are unable to import products, and merchants who are primarily exporters are unable to receive benefits from the DGFT for the export plan, etc. without an IEC license. The government has announced the Draft SOP for Import Authorization as a result of the same law being applied to the import of military goods. Import and export of products for military use are governed by import and export licenses.

Also Read – How Can I Tell Whether My Trademark has been Accepted

How does Import Export Code help businesses?

Every company that deals with the import and export of goods now relies heavily on IEC code. One needs an IEC certificate in order to assist any import- and export-related transaction. If you have an IEC license, commerce can flow more easily.

The most recent change to the IEC certificate has made it possible to properly track commerce involving the import and export of products and services. It tries to stop unethical behaviors that are frequently against the law and carried out in secret.

This modification to the policy will make it easier to properly monitor firms and their effects on the economy. Therefore, obtain your import export license as soon as possible so that you can continue operating your import or export business. If you require any assistance with IEC registration, please contact a legal expert at LegalRaasta.

How do IEC license Impact Import-Export Businesses?

In the era of fierce competition, quick thinking is a need in all endeavors. Every business aspires to develop and expand, and in order to achieve so, it must take a number of actions. To conduct business outside of one’s own country, a company must obtain approval and submit an application for import-export codes.

The government has resolved to restrict the occurrence of illegal products entering India’s ports again due to the high number of incidents. There has been a push to delete IEC for companies that haven’t updated their IEC details since 2005 in order to stop the import of unlawful items.

Why is import export license Important?

Any business that engages in import-export is reliant on IEC. It is a document that certifies one’s authorization to carry out a specific transaction outside of one’s national borders. One won’t be allowed to sell or import raw materials for commercial use without IEC.

The government has detained a few persons for trafficking drugs worth 21,000 Crores as a result of the most recent drug bust at the Adani Port. The substances were shipped as semi-processed talc. The inquiry is ongoing, and it has been decided to suspend those licenses that were not updated before 2005. Its purpose is to stop fraudulent businesses from operating.

Follow these steps to upgrade your IEC registration in India:

1. Sign in to the corporate website.
2. Navigate to the “Registrations” tab.
3. From the main menu, choose “Import/Export,” and then from the submenu, select “Registration Details.”
4. You can update your IEC registration form by clicking the link under “Import Export Code (IEC)” on the “Registration Details” page.
5. Fill out the form completely, then press the “Submit” button to send it.
6. After you submit the form, your IEC registration will be automatically updated.

Why Should we update Import Export Code Registration?

A company’s Import Export Code (IEC) is a special code that enables the Customs authorities of various nations to trace the imports and exports of that company. All businesses that trade goods or services internationally are required to abide with the IEC code. An annual update application must be submitted to Indian Customs in order to maintain your IEC registration. If you don’t, there may be fines and delays in customs processing.

Also Read – Common mistakes in filing of GST Registration

Advantages to maintaining your IEC registration

• Less time spent on paperwork for customs.
• Improved customs declaration accuracy.
• Increased security when conducting overseas business.
• Complete the New Information form.
• You may make sure that your company is in compliance with current laws and that it lives up to the expectations of clients and business partners by upgrading your IEC registration.
• You must submit the following data to update your IEC registration:

1. Your business name
2. Your business’s address
3. Your business’s phone number
4. Your business’s email address
5. URL of your company’s website (if applicable)
6. The nature of your business (import/export)

What Should I Do if My IEC Registration Certificate Is Expired?

Several actions can be taken to amend your registration if your IEC registration certificate has expired. You can submit the renewal application by mail or in person at an IEC authorized agent. You can update your registration by going to an IEC authorized agent, who can do it for you. Both the renewal application and your expired certificate must be brought.

You must mail your expired certificate and the renewal application together with your request for renewal. Your full name, birthdate, business name, address, and phone number must also be included.

Where Can I Find More Information About Registrations for Import Export Codes (IEC)?

Registrations under the Import Export Code (IEC) are essential for conducting business in India. A few tools are available to assist you with IEC registration. A step-by-step tutorial for registering your IEC can be found on the Department of Industrial Policy and Promotion’s official website. A searchable database of IECs that are registered is also available on the internet.

You can get in touch with the Indian Chamber of Commerce and Industry if you require more assistance than what the online tools can provide. In addition to offering additional support services to the IEC’s members, they can offer advice on how to register your IEC.As an alternative, get in touch with Legalraasta right now for a hassle-free IEC update.

How Many IEC Codes Are Allowed in India?

The Export Promotion Council of India will only accept up to 10 IEC codes for registration in India. These codes stand for particular export product categories that India wants to promote. Please visit https://www.dgft.gov.in/CP to register an IEC code. To register, you must first get in touch with the Export Promotion Council of India. Once your code has been registered, you can use it to apply for Indian government funding and initiatives for export promotion.

Conclusion

The purpose of import export code registration, its advantages, and how to update your IEC Code are all covered in this article. The goal of suspending IEC registration for specific businesses under specific circumstances is to stop fraudulent import and export methods. It aims to bring clarity to the situation and aid in controlling the country’s import and export. It will make it easier to monitor the development and earnings of the enterprises.

It is crucial that you maintain your IEC registration if you are an importer or exporter in India. Failure to do so may result in a variety of fines and limitations, such as the impossibility of exporting some products and the denial of customs clearance for imports. It’s time to update your code if it hasn’t been modified in at least two years. For more information or if you need assistance registering an IEC code, get in touch with LegalRaasta right away.

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Further, an IEC code comes with lifetime validity. In other words, there will be no need for the registration holder to get it renewed after expiry.

This article will provide an insight into the concept of the IEC Certificate and the procedure to apply and then download it online.

Recent Updates on IEC Certificate

The Ministry of Commerce and Industry, along with DGFT decided to launch a digital platform for issuing the IEC  Certificate. This online platform is made in phases, and the first phase went live on 13.07.2020.

Moreover, this digital platform is made in conformity to the “Digital India Programmer” and aims to promote the Ease of Doing Business.

Further, the other remaining phases of this platform are as following:

1. Advance Authorization;
2. Export Obligation Discharge;
3. EPCG (Export Promotion of Capital Goods)

Through this platform, the process of IEC Applications and Modification had been suspended with effect from 13.07.2020.

Advantages of IEC Registration

The benefits of  import-export code (IEC) Registration are as follows:

1. Assists in the Expansion and Growth of Business – IEC supports you to grow your businesses and also helps you in taking your services or product to the global market.
2. Provides Benefit offered by EPC, DGFT, and Customs – The company can take advantage of several benefits related to their exports or imports from the DGFT, customs, export promotion council, etc. on the basis of their IEC registration.
3. No need for renewal – No renewal is required as IEC certificate is effective for the lifetime of a company. After a company is approved of getting IEC certificate, it can use it against all it’s exports and imports.
4. No need to File Annual Returns – No filing of returns is required with IEC certificate. Once a company is allotted IEC certificate, there is no need for it to follow processes to sustain it’s validity.

Pre-Requisites For Applying For IEC

IEC can be applied on behalf of a firm which may be a sole Proprietorship, Partnership, LLP, HUF, Society. The firm should have a PAN, a bank account in the name of the firm, and also a valid address before they apply for an IEC. The address may be physically verified by the DGFT on the issuance of the IEC. Make sure that you keep your PAN, bank details, and firm details ready before you proceed to apply for IEC.

Requirements for IEC Certificate

The basic requirements for obtaining IEC Code in India are as follows:

1. Current Bank Account
2. Valid Email-ID and Mobile Number
3. Valid PAN (Permanent Account Number)
4. Scanned copies of all the documents needed

Documents Required for IEC Registration

The documents required for IEC certificate registration are listed below:

Documents required in case of Sole Proprietorship Firm

1. Details of PAN Card. Self-attested PAN copies.
2. (3*3) Digital Photograph of the Sole Proprietor
3. In the case of a Self-owned business, a Sale Deed copy
4. In the case of Rented Business, a Rent or Lease Deed copy
5. A copy of Sole Proprietor’s Voter ID, Passport, Driving License, and UID
6. Bank certificate in the prescribed format (Appendix 18A).
7. Bank/receipt/ demand draft of Rs.500 in favor of zonal DGFT, in case of offline form submission. It is the application fee.
8. Canceled cheque of the company account.
9. Self-addressed envelope duly stamped. (Rs.15 local and Rs.20 for outstation) for offline submission.
10. IEC application form, duly filled and signed by all applicants.

In the case of Public and Private limited companies:

1. Extract of Board resolution favoring applicants.
2. Form 32 (in case of change of directors) and Form 18 (in case of address change).
3. Copy of Memorandum of Association.

Documents required in case of Partnership Firm:

1. NOC (No Objection Certificate) from other partners to authorize one of them.
2. Copy of the Aadhaar card of all partners.
3. Copy of partnership deed.

Procedure For Applying For IEC Certificate

Both offline and online procedures are available for obtaining the IEC certificate. For the offline process, an application for ANF 2A along with attested documents are required to be submitted at the nearest DGFT offices. DGFT has regional offices around the country. ANF 2A forms are available at all DGFT regional offices or it can be downloaded from the DGFT website as well.

Procedure For Applying Offline

1. Get the ANF 2A form and fill it carefully with all the required details.
2. Once you are done filling the form submit the form along with the required documents, bank payment receipt/ demand draft of Rs.500 at DGFT zonal office or it can be sent post also. In the case of IEC modification, the application fee is Rs.200.
3. You will be given a file number. Using this file number, you can keep checking the status of your application on the DGFT website.
4. IEC certificates are generally delivered by post in one or two weeks.

Print IEC Online

People wish for growth in their business and better results, but it is not easy, there are several steps and procedure which must be followed while initiating a business in foreign countries.

The first and the most crucial step to run your business in another country is to get an IEC code from DGFT (Directorate General of Foreign Trade). DGFT has given IEC (Import-Export code) to a number of import-export businesses throughout India due to which India is a 17th leading country for exports and 11th leading country for import purpose. Import Export Code (IEC) was a 10-digit numerical code that is issued by DGFT and having a separate database.

Since the implementation of GST, the PAN of an entity will become the Import Export Code (IEC) of the entity upon registration. The existing holders of IEC that are holding 10 digit IEC numbers have been migrated to PAN-based IEC. It is not an autonomous process, in case one wants to initiate import-export business then they should file an application on DGFT (Directorate General of Foreign Trade) and the PAN card number will be recorded as the entity’s IEC code. After completing the IEC registration process you have to download and print the details. This article will provide an understanding of the procedure to download and print the IEC certificate online.

Downloading and Printing IEC Certificate

• Go and visit the Online IEC code registration website.
• Enter your details like PAN card number; name as mentioned in the PAN card; date of incorporation (as given in the PAN); latest file number without slash; recent file date.
• You will receive an OTP on your Email Id and Contact Number. Enter this OTP and clear the CAPTCHA. Next, click “Submit” after verification.
• A new window will appear where you have to enter your PAN card number, as per the PAN card number your Email ID and your contact number will be auto-populated. (Registered Email IC and mobile number).
• Enter the OTP received on the registered Email ID and contact number and press “submit”.
• On the right-hand side an option of “Print” will appear, click on it and take a printout of your IEC certificate.

After downloading the certificate you will be able to easily avail of the benefits under IEC registration from the government bodies and run your business globally.

We provide all kinds of legal services like Trademark Registration, Company Registration, FSSAI License, and many more. So, contact the expert team of “LegalRaasta”, for a completely smooth and hassle-free process.

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They are regulated under the Export or Quality Control and Inspection Act, 1963. EIC encourages those manufacturer/exporters who have implemented good quality management systems. This results in maintaining consistent quality in production to gain the confidence of the buyer.

Some countries have rules that all imported goods must be accompanied by a valid certification of the country of origin of goods.

An Export Inspection Agency is involved in in-process quality control, consignment-wise inspection.  Subsequent to inspecting the consignment, it issues a certificate of inspection.  actively  These offices are also engaged in and certification with many laboratories countrywide. They may also follow a system-approach for certification of activities.

There are around 40 sub-offices under EIC, all over India, that approve these agencies. To check the nearest sub-office to get your Agency certified by EIC, download the PDF given below
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Authorized Export Inspection Agencies of India

Below are some of the authorised Export Inspection Agencies, of India, that are recognised by the Export Promotion Council.

Maharashtra

Export Inspection Agency: Maharashtra: LegalRaasta

Gujarat

Export Inspection Agency: Gujarat: LegalRaasta

West Bengal

Export Inspection Agency: West Bengal: LegalRaasta

Tamil Nadu

Export Inspection Agency: Tamil Nadu: LegalRaasta

Andhra Pradesh

Export Inspection Agency: Andhra Pradesh: LegalRaasta

Odissa

Export Inspection Agency: Odissa: LegalRaasta

Goa

Export Inspection Agency: Goa: LegalRaasta

How to upgrade your Inspection Agency to an Export Inspection Agency

If you would like your Inspection Agency to be recognized as an inspection agency, you would need to apply to the nearest Sub-Office of EIC. These are located at Chennai, Delhi, Cochin, Kolkata and Mumbai.

There is a prescribed format for the application And you need to pay a non-refundable fee, along with it. You would need to mention what specific commodity, out of the notified ones, you want to be inspecting. The documents required to be submitted along with the application, have to be related to this commodity. Other than the aforementioned documents, you need to submit legal ID proof of your agency, experience in inspection and quality management systems implemented, etc.

A copy of the application and the enclosed documents have to be forwarded to EIC, New Delhi, simultaneously.

The Export Inspection Council (EIC) will examine the application and decide whether it can be accepted or not. If acceptable, you will receive an acknowledgement along with a number. In case, it is not acceptable, EIC may ask for supplementary information or reject by giving reasons for the same, in writing, with a copy to concerned Sub-Office. The application may get rejected on any of the below reasons:

• The application is incomplete.
• Required supporting documents have not been submitted.
• Fees balance.
• The commodity is not of interest to EIC in the current scenario.
• The Technical capability of the agency is insufficient, for the scope being applied for.
• The track record of the agency isn’t satisfactory (if it is an application for renewal).
• Any other reason, that would be explained by the EIC.

Scope for Export Inspection Agencies

The Central Government has notified the commodities for EIC. It has also, determined the minimum standards and the manner, for quality control and pre-shipment inspections. As per the Act, approximately 1000 commodities have been specified covering various sectors such as chemicals, ceramic products, Fishery, pesticides, rubber products, engineering products, food and agricultural products, textiles, footwear, Minerals, Steel products etc.

For the sound development of the export industry, the quality control and the pre-shipment inspection is necessary.

An Export Inspection Agency is qualified to issue Certificates of: 

1. Origin
2. Consignment-wise Inspection
3. In-Process Quality Control
4. Self-Certification
5. Food Safety Management System based Certification, under FSSAI
6. Hallmarking
7. ISO certification
8. AGMARK Registration
9. FPO
10. ISI Registration

Nowadays, the buyers abroad demand a certificate of inspection by a certified Export Inspection Agency. To ensure that the goods they receive are of good quality and meet the standards as required by them and their consumers.

Download our  LegalRaasta APP for a quick course of action and get IEC code.

Call now at +91 8750008585, to LegalRaasta, we provide professional expertise to guide you in taking ISO Certification, or FSSAI for your business.

You can also mail your queries to contact@legalraasta.com.

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When it comes to talking about Import and Export, India ranks 19th in terms of overall export of merchandise and 12th in terms of the overall import of merchandise in comparison with the other countries. The most favored mode of entering into International Business is Import and Export. The government has provided liberalization to expand the trade procedures occurring in India. There is plenty of opportunity for establishing a successful import or export businesses in a smooth way. To carry forward the export procedure, the Entrepreneur must have a strong understanding of all documentation pertaining to import or export transactions. Let us first discuss the Export meaning:

What is Export?

An export procedure is basically a movement of items outside the country which includes the items sent by regular mail or hand-carried on an airplane, documents transmitted by fax, software or specifications downloaded from the internet, and technology transmitted by email or shared in a phone conversation. If the item is leaving the U.S temporarily or if it is being returned to a foreign country then that “item” will be considered as the “export”. Ultimately, releasing technology or data to a foreign national located in the U.S. is also “deemed” to be an export.

Also read: Import Export Code Exemptions in India

Export Procedure and the documents required

For being a free floater of Export and Import in India, one needs to obtain first the IEC Code from the Directorate General of Foreign Trade. Import and Export code (IE Code) can be obtained by the business after obtaining PAN and opening a bank account. LegalRaasta can help you obtain IE Code in a hassle-free manner. Read more: Ways to overcome negative thoughts in Export Business?

Commercial Invoice

It is issued by the seller to the buyer containing the terms of the transaction such as date of seller details, transaction, buyer details, value, shipping terms and more. On the other hand, Customs duty is levied on the shipment usually based on the commercial invoice raised by the seller.

Air Waybills

It is a proof of shipment of goods by air. Air waybills serve as a proof of receipt of goods for shipment by the air cargo agent, an invoice for the air shipment, a certificate of insurance and a guide to the air cargo agent for handling, dispatch, and delivery of the consignment. Actually, it contains the information about the shipper and the consignee, the departure airport and destination airport, sign, description of the goods and seal of the carrier.

Bill of Lading

It is only provided by shipping agency for goods shipped by them. The purpose of creating a bill of lading is to deliver information about the shipper, consignee, carrying vessel, ports of loading and discharge, place of receipt and delivery, mode of payment and name of the carrier.

Bill of Exchange

It is used in the situation when an importer agrees to pay the exporter in future on a date on or before that is mutually agreed upon. A Bill of exchange is basically an important written document in wholesale trade wherein large amounts of money is involved. There are two kinds of classification— as a bill of exchange after date and bill of exchange after sight. Under which Bill of exchange after a date is when the due date for payment is counted from the date of the drawing. Whereas a bill of exchange after sight is when the due date for payment is counted from the date of acceptance of the bill.

Certificate of Origin

It is usually requested by the Customs Authority while clearing Customs. A Certificate of Origin contains the name and address of the exporter, package number, details of the goods or shipping marks and quantity, and use to establish the origin of the product. It is issued by the Chamber of Commerce of the Exporter’s country.

Packing List

It contains detailed information about the goods being shipped, quantity, weight and packing specifications. Besides, it is mandatory that a packing list must contain a description of the goods and have details regarding the shipping marks.

Letter of Credit

It is basically an arrangement wherein a Bank on the request of it customer agrees to make payment to a beneficiary on receipt of documents from beneficiary as per the terms stipulated in the Letter of Credit. The global use of LC makes it mandatory in domestic trade transactions also. Click here to know about the advantages and disadvantages of Letter of credit

For more information about IEC Code, Steps involved in Processing on Export Order and franchise partners you can visit our website: LegalRaasta. Here, our business advisors will guide you regarding the compliances of the export and import procedures. So, apply today and call us at 8750008585 and feel free to send your query on Email: contact@legalraasta.com

Related Articles:

Import Export code in India

The Custom Procedure to Export Precious Metals

Procedure fo shipping for Export of Plastic and Plastic Articles

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