IEC Registration for New Sellers

In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. Doing business globally is more easy now-a-days due to the advent of internet and technology. However, before going business globally, you need to follow several procedures and laws and get various registration and license. IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing into or exporting from India. It is also known as Importer- Exporter Code.

IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code that has lifetime validity. Predominantly importer merchants cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc., without IEC.

Availing several benefits The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.

No return filing IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of process for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

Easy processing It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.

No return filing Easy processing Required Documents

IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of process for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.

For IEC Code Registration, the following documents are required:

Individual’s, firm’s or company’s copy of PAN Card.
Proprietor’s voter ID, Aadhaar card or passport copy.
Proof of establishment, incorporation or registration of the partnership, society, proprietorship firm, company, HUF, etc.
Proof of address of business premise, such as sale deed, lease deed, rent agreement or utility bills (electricity bill, telephone bill or mobile bill).
Individual’s or company’s or firm’s cancel cheque copies of current bank accounts.
A self-addressed envelope for delivery of IEC certificate by registered post.