Indian enterprises seeking to grow beyond their borders must follow a number of trade restrictions and compliance standards. One crucial necessity is how to apply for import export code (License), which is a mandated registration that is required for every import or export transaction.

What is the Import Export Code (IEC)?

IEC full form is Importer Exporter Code. It is a significant company identifying numbers that are required when exporting from or importing into India. No individual shall export or import without first obtaining an IEC. 

An individual or corporate entity must have a ten-digit code to import or export products or services. This code is the Import Export Code (IEC) and is issued by the DGFT, Ministry of Commerce and Industries, Government of India.

Why do you need an IEC?

An IEC is required for numerous reasons.

• International Trade: Required for enterprises that import and export.
• Customs clearance: It is required at customs checkpoints to clear goods.
• Bank Transactions: Required for international financial transactions, including trade.
• Benefits: The Foreign Trade Policy provides a variety of benefits.

Documents Required for Importer Exporter Code Registration

IEC registration requires the following documents:

• Digital Signature Token
• PAN
• Aadhaar card matching the PAN details
• Address details of the branch office
• Bank details of the IEC holder

How do I register for IEC?

Importer-exporter codes must be registered for all enterprises, including sole proprietorships, partnerships, private limited companies, and charitable organizations.

Log in to the DGFT website.

The initial step in applying for IEC is logging onto the DGFT website. Select ‘Services’ from the navigation bar, then ‘IEC Profile Management’ from the drop-down menu.

Start the application

Click ‘Apply for IEC’ and then the ‘Start Fresh Application’ button.

Fill out the application.

Enter all needed information, such as proprietor, partner, director, Karta, managing trustee, bank account information, etc.

Preview and submit

After completing all the above processes, preview your application and click the ‘Sign’ button. Then, upload your digital signature certificate (DSC) to submit your application.

Complete payment

You will be led to a payment site to pay the application cost. After successful payment, you will be taken to the DGFT website, displaying your receipt on the screen. Please download the receipt for future reference.

The IEC certificate will be delivered to your registered email address. You can also obtain the certificate by logging into the DGFT website.10

How can I get the IEC application form online?

The application form, ANF2A, is available for download in PDF or Word format from the DGFT website. Applicants must have Appendix 18B attested by bank officials on their letterhead, along with two passport-size photographs. The IEC number assigned to an applicant is valid for all of its branches, divisions, units, or factories, as specified in the supplied format.

A small application fee of ₹250 is required. The Nominated Bank of DGFT accepts payment in the form of a Demand Draft (DD), TR6 challan, or Electronic Fund Transfer. The applicant must include the TR6 Challan with the IEC Code application.

Also Read This: What is the Job Description of Import and Export Professionals?

Where can I learn more about International Trade and IEC?

Navigating the complexity of international trading can be difficult, particularly for fledgling enterprises. The Lime Import Export Institute provides comprehensive support and training to organizations seeking to engage in import and export activity. Here’s how they can help you.

Training Programs

Lime Import Export Institute offers numerous training programs to educate you with the knowledge and skills required for successful international trading. Their courses include a variety of topics, including:

• Understanding IEC and its Importance: Detailed information about why an IEC is required and how it benefits your business.
• Application Process: A step-by-step guide to applying for an IEC, including document preparation and submission.
• Regulatory Compliance: Information about complying with international commerce norms and standards.

Eligibility to Obtain the IEC Number

The Foreign Trade (Regulation) Rules, 1993, establish the eligibility conditions for getting an IEC number. The IEC is a legal requirement for companies that import and export commodities.

However, in the case of services or technology, IEC is required only under limited instances, such as when dealing with ‘specified services’ or ‘specified technologies’ banned by the Government of India owing to national security concerns (e.g., nuclear weapons, automatic rifles, etc.

Wrapping It Up

Obtaining an Import-Export Code is an essential step for businesses entering international trading. The application procedure, whether online or offline, requires close attention to detail. The IEC application must be completed and signed correctly, as incomplete applications are likely to be rejected. 

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