Dreaming of import/export? Government reforms have paved the way for easy registration and business launch. Let’s learn all about the Import Export Code and how many products you can export through it.
What is an Import Export Code and Why is it important?
An IEC (Importer Exporter Code) is a unique 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT) in India.
This code is mandatory for businesses or individuals engaged in import or export activities.
The IEC code serves as a key credential for facilitating international trade transactions.
Importance of Import Export Code
Importing or exporting anything in India mandatorily requires an IEC, except for certain services.
Services only need an IEC if they receive benefits under the Foreign Trade Policy.
How long does it take to receive the IEC code?
Upon submitting the online application along with the required fees and necessary documents, the IEC code will be automatically generated. The DGFT will then send the IEC Certificate to the applicant via email.
Is it possible for individuals to acquire IEC?
Certainly, individuals serving as business proprietors can obtain IEC registration. They have the option to apply for IEC registration using either their name or the name of their company.
What is the limit on the number of products I can export using a single Import Export Code?
There is no specific limit on the number of products you can export using a single Import Export Code. Thus, a single Import Export Code Registration allows you the export all non-prohibited products. To verify whether a particular product category is eligible for export, individuals should consult the Export Promotion Council (EPC).
Documents Needed for Import Export Code (IEC) Registration
To complete the IEC Code Registration process, the following documents must be provided:
- Copy of PAN Card for individuals, firms, or companies.
- Voter ID, Aadhaar card, or passport copy of the proprietor.
- Evidence of establishment, incorporation, or registration for partnerships, societies, proprietorship firms, companies, HUF, etc.
- Proof of the business premise’s address, such as sale deed, lease deed, rent agreement, or utility bills (electricity bill, telephone bill, or mobile bill).
- Canceled cheque copies of current bank accounts for individuals, companies, or firms.
- A self-addressed envelope for the delivery of the IEC certificate via registered post.
If you have any other questions about your IEC application status, you can contact the E-StartupIndia experts at: 8881-069-069.