Import Export Code Registration in Bangalore

An import-export code is a 10 digit license number issued for companies and businesses, dealing with import-export activities, in the Indian territory. It is mandatory to have the IEC code, for any person importing and exporting goods and services, to or from India. The licence is issued by the Director-General of Foreign Trade (DGFT), under the Department of Commerce, Government of India.

Import Export Code Registration - An Overview

An import-export code is a unique 10 digit code, issued by the Director-General of Foreign Trade (DGFT), under the Ministry of Commerce, Government of India. This code is a prerequisite for every import/export business owner in India. The IEC is mandatory for Importers to clear customs and shipment, and to get the money transferred to foreign banks, and for exporters, IEC is mandatory to send shipments and receive money from foreign banks. In short, without a mandatory IEC code, no importer/exporter can operate in India.

Documents required for Import Export Code Registration

PAN Card of the individual or company

Copy of the entity's government ID (Driving License/ Aadhaar/ Voter ID)

Incorporate certificate / Partnership deed

Personal or company's bank account statement

Address proof

Copy of canceled cheque leaf of the current account

How to register for IEC? - A detailed procedure

To get an Import Export license online, below are the following procedures to follow.

Step 1

The online IEC application form ( Aayaat Niryaat Form No.2A), is filed with the Director-General of Foreign Trade. Alternatively, it can also be applied offline at the office of DGFT.

Step 2

All the mandatory documents, including bank statements and DSC, have to be submitted.

Step 3

An import-export code will be allotted and the application will be processed further.

Step 4

After the application and documents are verified by the concerned authorities, and if found satisfactory, the import-export license will be granted as a soft copy to the entity.

Benefits of Registering for IEC

By registering for IEC, traders get the privilege of venturing into the global market.

Through IEC registration, businesses can benefit from certain government schemes like Merchandise Export from India Scheme (MEIS), Service Export from India Scheme (SEIS), and a few others from Customs and Export Promotion.

Post the IEC registration, there is no compliance requirement, hence it's fairly simple to maintain the business.

Getting an IEC is not a tedious process, hence it is easy to obtain with minimal, basic documents.

Frequently Asked Questions

Can import/export of goods and services be made without the IE Code?

No, IEC is a mandatory requirement for recognition by Govt. of India, as export/importer.

What are the documents required for IEC registration?

To obtain IE code registration, copy of PAN Card, proof of address of business and a cancelled cheque of the current account is required.

Can any individuals obtain IE Code?

Anyone being a sole proprietor of a business can obtain IE code registration.

Is there any tax levied, based on IE Code?

No tax is levied. However, certain customs duty may be levied, depending on the product.

What is IE Code? What is Merchandise Export from India Scheme (MEIS)?

IE code or Import Export code is a unique 10 digit code issued to traders, importing or exporting goods and services, to and from India. The code is issued by the Director-General of Foreign Trade (DGFT), under the Ministry of Commerce, Government of India. MEIS is a type of government scheme under which exporters are provided numerous rewards and incentives. The incentives are given at a prescribed rate, which varies from product to product.