Easily Obtain Import Export Code
Import Export Code or IE Code is required for undertaking import of export transactions
Availing benefits under schemes like SEIS or MEIS. Unfolding Tax offers IE Code registration from Rs.4899/-
Importer Exporter Code
Import Export (IE) Code refers to the registration needed for people who are importing or exporting goods and services from India. IE Code is sanctioned by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Govt of India. IE Codes if or when issued is used by the entity completely through its existence and doesn’t need any revision or filing. Thus, it is advised for most organizations to get the IE Code, regardless of whether they need it at the moment or not.
IE Code application should be made to the Directorate General of Foreign Trade with all the required supporting documents. Once, the application has been submitted, DGFT issues an IE Code for the entity within 15 – 20 working days or less.
Procedure For Import Export Code Registration
What are the Documents Required For IE Code?
Documents Required For IE Code?
Identity and Business Proof
Identity proof like passport, drivers license, aadhaar card, voters id or ration card for the promoters with photo or person authorised to file IE code application. In case of legal entity or registered body, then partnership deed or incorporation certificate or registration certificate is required.
Cancelled Cheque Copy
Bank certificate as per DGFT format or cancelled cheque bearing preprinted name of applicant and account number. Bank certificate or cancelled cheque is used to verify that the applicant has an active current account with a bank in India.
Business Address Proof
Documents to support the business address submitted in the IE code application. Sale deed in case business premise is self-owned. If the premises are rented, rental agreement or lease deed. Along with the agreement or deed, a copy of latest electricity or telephone bill must be provided.
Reasons to Register an IEC Code
Lifetime – NO Renewal
IE Code is allotted for the lifetime of the entity and thus needs no renewal. once an IE Code is received, it can be used by that business for all its transactions of import or export without any further troubles.
Exporters Require IE Code
All Exporters who want to export goods or services from India should get an IE Code. The IE Code must be requested while sending shipments. The banks as well need the exporters IE Code while getting any money from abroad.
All Importers Require IE Code
All Importers who import or want to import any goods into India need an IE Code. The IE Code should quote while clearing the customs. The banks need the merchants IE Code while sending money to foreign countries.
Proprietors can have IE Code
individuals who are owners of a business can obtain IE Code in their own name as well. It is not important to incorporate a business entity for getting an IE Code
No Return Filing
IE Code does not nee any filing return. Once, an IE Code is issued there are no further procedures required to maintain the validity of the IE Code. Even if import or export activities occur, there is no required filing needed for DGFT.
Frequently Asked Questions
IE Code stands for Import Export Code. It is needed for a person who is involved in importing or exporting goods and services from or to India.
All importers must notify their IE Code during the clearance customs when their goods arrive in India. All exporters should also mention their IE Code while exporting their goods from India. Additionally, now RBI has also requested to the person involved in importing or exporting services to mention IE Code in foreign payments in a bank account. Thus, IE Code is needed for anyone interested in import or export in India.
No. IE Code is not a tax registration. So no tax is charged on IE Code while importing or exporting the goods or services. However, customs duty may be charged.
Any person who wants to import or export goods and services from or to India must obtain IE Code.
Yes, individuals acting as sole or joint Proprietors of a business can get IE Code Registration.
For obtaining IE Code registration, an address proof of business a copy of PAN Card, and constitution of the business [ deed of partnership, Incorporation Certificate, etc] along with a letter from the banker is expected.
You can get IE Code Registration from the DGFT within 10-15 working days after submitting all the required documents and application.
IE Code is not a compulsory registration, only importers and exporters of goods or services need to have an IE Code. Thus there is no penalty for not having an IE Code; however, import/export cannot be done without an IE Code.
No. Returns need are not mandatory to be filed for IE Code.
IE Code is valid for a lifetime of the business and renewal is also not essential.