IEC Code (Import Export)

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IEC Code (Import Export) Registration

An Importer Exporter Code (IEC) is a key business identification number which is mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted/personal use.

Import Export Code is also known as IEC Code, Import Export license. In this world of Competition among business entities, every organisation wants to expand their business across the globe. IEC Code is mandatory for every business organisation which is planning to engage themselves in Import Export activities with any Foreign country.

Top reasons to get IEC Code

  • IEC (Import Export Code) is required by anyone who is looking to kick-start import/export business in the country.
  • It is mandatory to take IEC Code from the DGFT (Director General of Foreign Trade) which has a lifetime validity.
  • With the implementation of GST, PAN of an entity will be used for the purpose of IEC, it will be alpha numeric (instead of 10 digits numeric at present) and will be same as PAN of an entity.

Benefits of IEC Code (Import Export) Registration

Import Export codes are important for importers at the time when shipments get cleared from customs and when funds are sent overseas. For exporters, it is essential when money is transferred to their bank accounts and when sending in their shipments. Below are some important benefits for your understanding:

Global Presence

IEC Code helps to bring your business at Global Platform. It is mandatory for export or import of Business and Services.

No Compliance

Once you have IEC Code Certificate, there is no need of filing any periodic returns or compliance. This is rare in any registration that a business gets in the course of business.

No Annual Maintenance

As there is no compliance listed, there is no requirement of annual maintenance fees to be paid after obtaining this code. There is no requirement of filings or renewal of the registration for each Financial Year or otherwise.

Custom Clearance

IEC Code helps your business to have smooth and hassle-free import export transactions.

PAN Based Registration

The IEC Code is provided based on the Permanent Account Number of the business organisation instead of erstwhile 10-digits number.

GST Refund Benefits

With IEC Code one can file claim for refund of Goods & Service Tax paid by its business. The exporter can make exports without payment of taxes or claim refund if tax is already paid.

Life Time Validity

IEC registration is permanent registration which is valid for life time. Hence there will be no hassles for updating, filing and renewal the IEC registration. It is valid till the business exists or the registration is not revoked or surrendered.

Ease of international Banking transactions

IEC Code helps you to have smooth and hassle-free business transactions with international entities, Bankers will credit your inward remittance with very less documentation.

Reduces the risk of Illegal transportation

IEC helps to eradicate the illegal transportation or illegal exports and imports. The centralised registration helps the officials to supervise and better administer the transactions undertaken as a part of cross border business. The accountability of prohibited or restricted transactions is apportioned well.

Eligibility of IEC Code (Import Export) Registration

Every business whether Sole Proprietorship firm, Partnership Firm, Company, Society, Trust, HUF or any other form of business in India are eligible to apply for IEC Code. The State government or Central government departments are not required to take IEC registration. They are allotted a fixed number which is quoted for any such transactions.

Documents Required for IEC Code (Import Export) Registration

If you are looking for IEC Code Registration with the help of Compliance Calendar LLP, you need not worry on the checklist as we look after end to end service delivery and help you compile all the documents and information required in the processing of IEC Application.

Go through the below documents list:

Proprietorship firms

Partnership firm

LLP firm/ Government Undertaking/ Public Limited Company/ Private Limited Company/ Section 25 Company

Registered Society/ Trust

HUF

Photograph of Proprietor

Photograph of any one authorised partner

Photograph of Authorised Director/Designated Partner

Photograph of Authorised Person i.e. Secretary/President

Photograph of Karta

PAN of Proprietor

Pan of Firm

PAN of entity

PAN of entity

PAN of HUF

Copy of Passport/Voter’s I-Card/ Driving Licence/Aadhar card.

Copy of Passport/Voter’s I-Card/ Driving Licence/Aadhar card of Authorised Partner

Copy of Passport/Voter’s I-Card/ Driving Licence/Aadhar card of Authorised Designated Partner/Director

Copy of Passport/Voter’s I-Card/ Driving Licence/Aadhar card of Authorised Secretary/President

Copy of Passport/Voter’s I-Card/ Driving Licence/Aadhar card of Karta

Address Proof

Address Proof

Address Proof

Address Proof

Address Proof

Cancelled Cheque

Cancelled Cheque

Cancelled Cheque

Cancelled Cheque

Cancelled Cheque

Mobile No., Email Id

Mobile No., Email Id

Mobile No., Email Id

Mobile No., Email Id

Mobile No., Email Id

Downloads

This section is to help you download some important documents that will help you to move GST Application Faster.

  • Details Required for GST Application
  • Letter of Authorization
  • Board Resolution for GST
  • GST Invoice Formats

Frequently Asked Questions

IEC Code (Import Export) is completely an online process at www.gst.gov.in and you can do the same yourself if you have the knowledge about it. However, it is recommended to consult a professional who can help you in entire process of obtaining IEC Code (Import Export). Know that if your details and documents are found inconsistent, the application will get rejected.

Selecting the right jurisdiction is the first most important task while applying for GSTIN. You can use this link https://cbic-gst.gov.in/know-your-jurisdiction.html to locate your right jurisdiction or get in touch with CCL Team to help you file your GST Application.

Thankfully Yes! You can find answers to all your general queries regarding new IEC Code (Import Export) at https://cbic-gst.gov.in/faqs-user-manual-new-gst-registration.html

Provisional GSTIN (PID) should be converted into final GSTIN within 90 days. Yes, provisional GSTIN can be used till final GSTIN is issued. PID & final GSTIN would be same.

An unregistered person has 30 days to complete its registration formalities from its date of liability to obtain registration.

You would be able to apply for new registration at the GST Portal www.gst.gov.in

No. The supplier would be liable to obtain registration in case of inter-State supplies irrespective of his turnover.

If exclusively making supplies of Nil rated supplies, registration is not compulsory. Kindly refer section 23 of CGST Act.

You can supply goods or services or both on bill of supply without mentioning GSTIN and/or ARN. On receipt of GSTIN, you will need to issue revised invoice mentioning GSTIN. You are required to reflect this supply in your return and also pay tax thereon.

We are the market experts in registration and compliance. We can help you with end to end services in IEC Code (Import Export). It is a legal process so it is prudent to assign the work to a professionally managed firm.

Not to worry at all! Someone from our experienced team will resolve all your queries. Our GST Experts will help you to give you the best advice without any consultancy fees. Get in touch with us. Write to us at info@ccoffice.in or WhatsApp/Call us +91-9988424211.