Importer Exporter Code (IEC)
ONLY at ₹2,499/- all inclusive*
It is mandatory to obtain an Importer Exporter Code for any business who wishes to either import or export services or goods. However, for service exports it is not mandatory unless the exporter wants to claim benefits under the Foreign Trade Policy.
Yes you read it right! There are a lot of benefits that are available to exporters, incl. additional direct incentives from Govt. of upto ~10% of your export revenue. So get your IEC Code, Today!!
List of Documents required
- PAN Card of the Entity
- Bank Statement/Cancelled Cheque
- Aadhar Card of Authorised Signatory
- GST Certificate
- Utility Bill of the Place
- Digital Signature Certificate (in case of company/LLP)
HOW DOES IT WORK?
Benefits of IEC code
- Global Market Reach
Procuring IEC code would mean the business is allowed to import goods from and export goods to other countries. This would increase the market reach of the business as foreign markets that were inaccessible before could be operated on now
- Online Registration
The obtaining of IEC is a fairly simple and straightforward process where everything that needs to be done can be done online.
- PAN Based Registration
Since the registration of IEC Code is based on the PAN number of the business, multiple IEC code based on the place of conducting business is not required. Rather, a single IEC code is enough for one business entity.
- Life-time Validity
Once a business is granted IEC code, it is valid for a lifetime. No further update of renewal hassles need to be carried out. As long as the business exists, it’s IEC code will exist.
- Benefits of Schemes
Along with the ability to access wider markets, IEC code also enables the businesses to be eligible for various benefits in the form of subsidies or otherwise declared by the authorities and customs. The exporters can also claim tax refunds on the exports made.
ANSWERING YOUR QUERIES
Is there any government fees for IEC?
Yes. The Government charges Rs 500 as charges for IEC Certification
What is the validity of IEC code?
IEC Code is one time registration valid till lifetime.
Are there any compliances to be done once registered?
DGFT has recently introduced half yearly returns for IEC code holders. More details are awaited.
Is there any penalty for not having IEC?
IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code.
Do I have to file any returns for IE Code?
How long is the IE Code valid for?
Still Have Queries?
We are very excited to assist you in all ways possible.