Summary: The Importer Exporter Code (IEC) is mandatory for all businesses involved in import or export in India, excluding items specified by the government. Issued by the Directorate General of Foreign Trade (DGFT), the IEC application process begins with registering on the DGFT portal as an importer/exporter, foreign importer/exporter, or other specified entities. The applicant must provide a valid mobile number and email ID, along with OTP verification. The application form requires details such as the business address, owner’s identity proof, and the nature of the goods or services involved. Essential documents include the GST certificate, Udyam certificate, or Certificate of Incorporation, PAN card, and a blank cheque for bank details. The application fee is ₹500, and the IEC must be renewed annually by June 30, with no fee for on-time renewals and applicable charges for late renewals. The DGFT portal also offers various services like export promotion, customs information, and verification of documents. Complying with these regulations supports the Make in India initiative, promoting seamless trade operations.
The portal of IEC code designated by the DGFT for granting a specify code for the Procedure of Export or Import by the Resident of India, SEZ units and Non Residents of India. The DGFT also provide other specified services like Information about customs authorities, IEC Profile management, Export promotions, Advanced authorization, verify of UDIN, MEIS, ROSCTL, SEIS, Transport and Marketing assistance, Quality complaints and Trade Disputes, Export Management system, Deemed export E-RCMC and such other facilities to the users.
There is the need of applying for the IEC code before export or import of any goods other than the products specified in the list of the exemption provided by the Government of India in consultation with the Director General of Foreign Trade for supporting export and promotions of Make In India moto given by our Prime Minister of India.
Now there is the Procedure specified of the Process of Applying for the IEC code:
- First, there is the need of sign up with the DGFT as Importer/Exporter, Foreign Importer/Exporter, export promotion council, certifying authorities like CA/CS/CMA/CE, Bank Officials etc with the mobile number and email id along with the submission of otp on mail id as provided,
- There after, select the option of Applying for IEC code with the details as provided below the process of the apply for the IEC code,
- On first page, filling the details of the business, organization, proprietorship etc. like registered address, owner details, with the attachment of the proof of Registered address and proof of identity of the owner,
- Next, on the another page, personal details of the owner has been provided with the proof of identity,
- Then detail of the product or service that the organization export or import in the country,
- In last, with the e-verify of the details filled in the application with submitting of the bank account details and submission of the aadhar otp the application submit with the payment of Rs. 500,
- The IEC code need to be renewed every year before the due date of 30th june with the fees of Nil, and thereafter requisite fees required for the renewal of the IEC code.
Now there are certain documents required for the procedure of the apply of IEC code. These are:
- GST certificate/Udhyam certificate/COI etc.,
- Pan of the owner,
- Blank cheque for bank details of the organization
- Any other as required for the application.
So here is some basic aspects has been provided for the Procedure of the IEC code and all documents required to be submitted authentically and complying with the Specified Rules and Regulations as provided.
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