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What is Importer Exporter Code?

IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code. All businesses engaged in importing and exporting goods must have an Importer Exporter Code (IEC). Without one, you cannot import or export. You don’t need to be a registered entity to apply for one; you can apply even as an individual. The IEC does not apply to technology and services. However, it does in certain cases in which international trade is restricted, such as nuclear weapons and automatic guns. The IEC is a 10-digit code with permanent validity issued by the Directorate General of Foreign Trade.

The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad. IMPORT AND EXPORT CODE Registration can be done through HerambIndia in Delhi NCR, Mumbai, Bengaluru, Chennai & all other Indian cities.

IEC REGISTRATION PROCESS

1
COLLECT INFORMATION

You are required to give some information for IEC application and email documents.


DOCUMENTS DRAFTING

We draft your application for IEC code and file it with the DGFT office on your behalf.

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3
APPLICATION SUBMIT & FEES PAYMENT

We Submit Application and pay the government free and followup with department for your license.


IEC License Sent by Courier

Once your IEC CODE registration is completed we will send IEC license to you by courier.

4

Required Documents

What You Need To Know

PROPRIETORS CAN HAVE IE CODE

Individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.

LIFETIME - NO RENEWAL

IE Code is issued for the lifetime of the entity and requires no renewal. So once a IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.

EXPORT SUBSIDIES

On the basis of IEC, companies or firms can benefits and subsidies their exports/ imports from DGFT, Customs and export promotion council.

NATIONAL VALIDITY

The IEC, once issued, is valid throughout the county, in all your branches or factories. It needs to be quoted while your goods go through customs and while sending money abroad or receiving money from abroad.

NO RETURN FILING

IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.

FAQs on IEC

What is IE Code?
IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.
Any person who proposes to import or export goods and services from or to India must obtain IE Code.
Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorship’s and partnerships, in a private limited company the liability of the shareholders in respect of the company’s liabilities is limited. In other words, the liability of the shareholders of a company is limited only to the value of shares taken up by them.
All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.
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.
No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied.
IE Code Registration can be obtained from the DGFT in 10-15 working days after submission of all required documents and application.

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