Importer Exporter Code Registration
- Guaranteed submission of IEC application within two days in the DGFT office T&C*
- Make your business global. Apply from anywhere in India with IEC code
IEC Code Registration With AccountWaale
IEC registration online has never been this easier. Get in touch with our experts from Account Waale to complete the whole process in three steps
Talk to our experts
Provide the required documents
Complete IEC registration
IEC Code Registration - Overview
Benefits of IEC Code
- The IEC registration helps traders including online e-commerce operators open the doors to venture into the global market
- Businesses can avail government schemes like the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others from customs and export promotion
- No compliance requirements post registration and hence maintaining the business is relatively simple.
- The process of obtaining IEC Code is not tedious and can be obtained with minimal, basic documents.
Situations Where IEC Code Is Required
You can use the IEC code in the following scenarios :
- When a shipment needs to be cleared by customs, the customs authorities require it from the importer
- When an importer transfers money overseas using banks, the bank requires it
- When an exporter has to dispatch their shipments, the customs port requires it
- When an exporter directly receives foreign currency into their bank account, the bank mandates it.
Validity of Import Export Code
The validity of an IEC is for a lifetime. This means that once an IEC is obtained, it is valid for all import or export transactions of the entity. There is no need to renew or update the IEC after a certain period.
Nature of the Firm Obtaining an IEC Code
IEC can be obtained by any individual, company, partnership firm, Limited Liability Partnership (LLP), or any other type of entity engaged in import or export activities. Whether you are an exporter or importer, having an IEC is mandatory for all such transactions. Even if a business is not actively engaged in import or export activities, but it plans to do so in the future, it still needs to obtain an IEC beforehand.
Prerequisites for Applying IEC Code
To apply for IEC, the following prerequisites are required:
- A valid Permanent Account Number (PAN) card issued by the Income Tax Department of India is mandatory
- The applicant must have a bank account in the name of the firm or individual, as IEC is issued in the name of the applicant
- The business entity should be registered under the Registrar of Companies (ROC)
- The applicant needs to submit the relevant documents such as identity proof, address proof, and details of the business entity to the DGFT office.
How to Register for an IEC License Online?
The process for registering an IEC license online in India is relatively simple and can be completed in a few steps. Here’s how to register for an IEC license online in India:
- Visit the Directorate General of Foreign Trade (DGFT) website, which is the official website for IEC registration in India
- If you are a new user, click on the ‘Register’ button and create a new account by providing your basic details such as name, email address, and phone number
- Once you have registered, log in to the DGFT website using your registered email ID and password
- Click on ‘Apply for IEC’ on the homepage of the DGFT website, which will redirect you to the import export code application form
- Fill in the online IEC application form with all the required details such as the name and address of the firm or individual, PAN number, bank account details, and contact information and the required documentation
- Pay the IEC application fee online through internet banking, debit card, or credit card
- Once you have filled in the application form, uploaded the necessary documents, and paid the application fee, review the application and click on the ‘Submit’ buttonmentioned against them for import/export purposes.
S.No Code Number Categories of Importers / Exporters 1 0100000011 All Ministries / Departments of Central Government and agencies wholly or partially owned by them. 2 0100000029 All Ministries / Departments of any State Government and agencies wholly or partially owned by them. 3 0100000037 Diplomatic personnel, Counselor officers in India and officials of UNO and its specialised agencies. 4 0100000045 Indians returning from / going abroad and claiming benefit under Baggage Rules. 5 0100000053 Persons / Institutions / Hospitals importing or exporting goods for personal use, not connected with trade or manufacture or agriculture. 6 0100000061 Persons importing/exporting goods from/to Nepal 7 0100000070 Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas 8 0100000088 Ford Foundation 9 0100000096 Importers importing goods for display or use in fairs/exhibitions or similar events under provisions of ATA Carnet. This IEC number can also be used by importers importing for exhibitions/fairs as per Para 2.29 of HBPv1. 10 0100000100 Director, National Blood Group Reference Laboratory, Bombay or their authorised offices. 11 0100000126 Individuals / Charitable Institution / Registered NGOs importing goods, which have been exempted from Customs duty under Notification issued by Ministry of Finance for bonafide use by victims affected by natural calamity. 12 0100000134 Persons importing/exporting permissible goods as notified from time to time, from/to China through Gunji, Namgaya Shipkila and Nathula ports, subject to value ceilings of single consignment as given in Para 2.8(iv) above. 13 0100000169 Non-commercial imports and exports by entities who have been authorised by the Reserve Bank of India (RBI).
Why AccountsWaale
When it comes to IEC registration, partnering with Account Waale offers several advantages that streamline the process and enhance your experience:
Expertise in Legal Services:
Account Waale boasts a team of legal experts well-versed in the nuances of IEC registration. Their in-depth knowledge ensures accurate and efficient handling of your application.
Effortless Application Submission:
With Account Waale , you can avoid the hassle of navigating complex paperwork and procedures. Their platform simplifies the application process, saving you time and effort.
Timely Processing:
Time is of the essence, especially in the business world. Account Waale’s proficient handling ensures that your IEC registration is processed within a reasonable timeframe, helping you kickstart your import/export ventures swiftly.
Tailored Guidance:
Every business is unique, and Account Waale recognizes this. Their experts provide personalized guidance that aligns with your business’s specific requirements, ensuring that your IEC registration meets your needs.
Compliance Assurance:
Regulatory compliance is crucial for smooth business operations. Account Waale attention to detail helps you achieve compliance with all the necessary regulations and guidelines related to IEC registration.
Customer Support:
Questions or concerns? Account Waale customer support is readily available to address any queries you might have during the IEC registration process.
Importer Exporter Code Glossary
AES: Automated Export System
Automated Export System (AES) is the system used by U.S. exporters to electronically declare their international exports to the census bureau to help compile U.S. export and trade statistics.
FTR: Foreign Trade Regulations
Trade regulation is a field of law, often bracketed with antitrust, including government regulation of unfair methods of competition and unfair or deceptive business acts or practices.
POA: Power of Attorney
A power of attorney or letter of attorney is a written authorisation to represent or act on another’s behalf in private affairs, business, or some other legal matter. The person authorising the other to act is the principal, grantor, or donor (of the power). The one authorised to act is the agent or, in some common law jurisdictions, the attorney-in-fact.