Import Export Code Registration

All businesses which are engaged in Import and Export of goods compulsorily require Import Export Code / IEC Registration.

What is Import Export Code?

Import Export Code  (in short IEC Code) is a ten digit number with permanent validity granted by Directorate General of Foreign Trade under Ministry  of Commerce and Industry, to any bonafide person/ company for carrying out import/export. 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.

When will there be requirement of IE code?

At following instances the IE Code would be required:

• When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
• When an importer sends money abroad through banks then it’s needed by the bank.
• When an exporter has to send his shipments then it’s needed by the customs port.
• When an exporter receives money in foreign currency directly into his bank account then submission of IEC is required by the bank.

One doesn’t need to be a registered entity to apply for import export code; you can apply even as an individual. IEC Certificate is also known as Export License, Import License, IE Code, IEC code, EXIM License. All have the same meaning.

Important Note: As per the recent notification from the GDFT, One needs to renew / update the IEC License every year during April to June.

Suggested read: An Exporter can get GST Exemption by Filing LUT

Barrister Babu is a group of intellectuals. The entire team of Barrister Babu consists of Highly qualified CA, CS, Lawyers and business administrators. Barrister Babu would be a one stop destination for your Import Export code registration registration in Mumbai. We also provide services like Start up advisory, Secretarial compliance services, PAN / TAN application, DIN registration, GST registration, Trademark registration, GST / Income tax return filing and many more.

Benefits of IEC Registration in India

IEC is valid for lifetime

An online Import Export Certificate once issued is valid for lifetime and has no expiry date. However, it requires to be renewed / updated online every year. IE code is valid nationwide and across all factories or branches of the organization.

Required by Importers

All importers who wish to import goods in India need to have a valid IE Code. IE Code must be mentioned in all relevant customs documents. Bankers would require you to have valid IEC registration for making payments abroad.

Required by Exporters

All exporters who export goods out of India need to have a valid IE Code. It must be quoted in relevant customs documents. Bankers would require you to have an IEC registration while receiving money from abroad from your customers.

Global market reach

An Import Export registration unlocks the opportunities to reach in the Global / International Business Market.

IEC For Individuals

An individual may also apply for Import Export Code registration  There is no restriction on you to have a business registered.

Quick Processing

You need not submit any proof for import or exports for applying for IEC Code. IEC Application is online process.

How to get IEC Registration

1. Complete a Simple Form
2. Submit Documents
3. Verification of Documents
4. Application for IEC Registration
5. IE Code Allotted