PRACTICE DETAILS
- Lawyer Mr. Shaman Jain
- Skills Government Registrations
- CATEGORY Government Registration, Tax Registrations & Filings
ABOUT THIS PRACTICE
Recent few years have witnessed gradual movement of business sectors from the local market to the international market. Every company nowadays wants to penetrate in the international market and establish itself there, to do so they must conduct import and export activities which requires Import Export Code.
Imports and exports are allowed using this 10 digit unique export code that is assigned to the business entities . The code is issued by the Directorate General of Foreign Trade (DGFT) to the applicants.
The IEC code requires just one time registration online and is valid for a lifetime. Online IEC application has made the import export code registration process easier and it also requires very few documents to support it.
Documents Required
- PAN Card: A scanned copy of a PAN card of the applicant or the company
- Address Proof: Sale Deed/ Rent Agreement/ Latest Electricity Bill/ Telephone Bill in name of applicant
- Cancelled Cheque: A cancelled cheque of current account bearing entity’s pre-printed name or Bank Certificate in form ANF-2A(i)
- PAN card of Director or Partner: For a company/partnership, PAN card of the Director/Partner is a must
- Certificate of Registration: Entity should provide the registration certificate with MoA- AoA / LLP Agreement, or a Partnership Deed as applicable
Process for IEC registration
- Provide Required Documents
- Drafting and preparation of Application
- Filing of online IEC Code registration application with DGFT
- Government processing time
- It is used as a license for Importing and Exporting of goods and also it's a proof of the firm being an Importer/ Exporter in India.
- To avail various benefits regarding import and export from customs, DGF, Export Promotion council etc by submitting it to various government authorities.
- It gives complete details of the port from where goods are being imported and exported along with a dealer code.
- One must provide full information about the goods that are to be imported or exported so as to obtain IEC code.
- Validity of IEC number covers all the divisions/units and factories indicated on the IEC number.
- Goods receive clearance easily from the customs authorities with the help of IEC.
- It leads to reduction of illegal transportation of goods.
- For Import and Export of Goods from India
- For Import and Export of Services from India
- To clear the shipment while making an Import or Export
In case IEC number lost or misplaced, a request will be made to the issuing authority to grant a duplicate copy of IEC number. Following documents need to be accompanied for this purpose for IEC registration.
- For issuance of duplicate IEC, a request letter is drafted on the letterhead.
- Application form as per Appendix 2 and 3.
- Copy of IEC number.
- Copy of FIR.
- Affidavit on notarized stamp paper.
- Challan or DD in favor of JT. DGFT.
- A self-addressed envelope with the postage stamp.
In case IEC holder does not wish to operate the allotted IEC number then the same can be surrendered by intimating the issuing authority. The issuing authority after receiving the intimation shall cancel the same and transmit it to DGFT for further transmission to the customs and to other regional authorities to intimate them about the IEC number which has become inoperative.
