Import Export Code

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IMPORT EXPORT CODE

Import Export (IE) Code India is a registration of an import and export companies with Indian Custom department that import and export commodities from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents.

Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 – 20 working days or less.E Code registration is permanent registration which is valid for a lifetime. Hence, there will be no hassles for updating, filing and renewal of IE Code registration. It is valid until the business exists or the registration is revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing.

Import-Export-CODE

1. Name of Business Entity : Enter the name of business unit on which name you are required Import Export Code Certificate. Name must be mached with PAN Database.

2. Constitution of Business : Select type of business entity of the applicant in which name IEC requires to apply.

3. Description of Business :Describe the nature of business for which IEC Code rquired.

4. Business Activity :Select anyone main business activity to be conducted.

5. Date of Incorporation / Date of Birth : Select the date of birth / incorporation as per the PAN Database.

6. Principal Place of Business Entity : Fill the complete address with Pincode which will get printed on IEC Certificate.

7. Branch Details : Enter the details of branch of applicant if any.

8. PAN Number of Entity : Fill up the PAN Number of the IEC Applicant.

9. E-Mail ID : Fill the correct Email ID of the Applicant.

10. Contact Number : Fill the correct 10 digit Mobile Number of the Applicant.

11. Whether the firm is located in Special Economic Zone (SEZ) : Select Yes if applicant business place is located in Special Economic Zone notifieed by Govt. of India.

FREQUENTLY ASKED QUESTIONS (FAQS)

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.

Why is IE Code required?

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.

Is there a tax levied based on 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.

Who must obtain IE Code registration?

Any person who proposes to import or export goods and services from or to India must obtain IE Code.

Can individuals obtain IE Code?

Yes, individuals acting as Proprietors of a business can obtain IE Code Registration.

What are the documents required for IE Code registration?

To obtain IE Code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a letter from the banker is required.

How long does it take to obtain IE Code registration?

IE Code Registration can be obtained from the DGFT in 10-15 working days after submission of all required documents and application.

What is the penalty for not having IE Code?

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?

No. Returns need NOT be filed for IE Code.

How long is the IE Code valid for?

IE Code is valid for life-time of the entity and renewal is also not necessary.