IMPORT EXPORT CODE
The Importer-Exporter Code (IEC) serves as a crucial business identification number that is essential for conducting export or import activities. No individual is permitted to engage in import or export operations without possessing an IEC Number issued by the Directorate General of Foreign Trade (DGFT). For the import or export of services or technology, the IEC is necessary only when the service or technology provider is availing benefits under the Foreign Trade Policy or is involved in designated services or technologies.
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IMPORT EXPORT CODE Overview
The Import Export (IE) Code is a mandatory registration for individuals or entities engaged in the import or export of goods and services from India. This code is granted by the Directorate General of Foreign Trade (DGFT), which operates under the Ministry of Commerce and Industries of the Government of India. To obtain the IE Code, an application must be submitted to the DGFT, accompanied by the required supporting documentation. Upon receipt of the application, the DGFT typically issues the IE Code within a timeframe of 15 to 20 working days or sooner.
Validity of IE Code
The registration of an Importer Exporter (IE) Code is a permanent process that remains valid for the lifetime of the business. Consequently, there are no complications associated with updating, filing, or renewing the IE Code registration. It remains effective as long as the business operates, unless the registration is either revoked or voluntarily surrendered. In contrast to tax registrations such as GST or PF, importers and exporters are not obligated to submit any filings or adhere to additional compliance requirements, such as annual submissions.
Given that IE Code registration is a one-time requirement with no further compliance obligations, it is advisable for all companies and Limited Liability Partnerships (LLPs) to secure their IE Code following incorporation.
IE Code Exemption
A business must obtain an Import Export Code to engage in the importation of any goods. Nevertheless, certain individuals are exempt from this requirement, including:
- – The central Government or its agencies and undertakings involved in import or export activities for defense purposes or other categories specified in the Foreign Trade (Exemption from the Application of Rules in Certain Cases) Order, 1993.
– The importation or exportation of goods intended for personal use.
Applying for IE Code
Paragraph 2.08 of the Handbook of Procedure outlines the regulations concerning the application for the Importer Exporter Code (IEC). As per public notice no. 27/2015-2020, issued on 8th August 2018, this paragraph has been amended, and the updated provisions regarding the IEC application are detailed below.
- Exporters/importers shall file an online application in form ANF 2A.
- The applicant is required to submit only two documents; one is the address proof, and the other is the pre-printed cheque or bank certificate.
It is important to highlight that the aforementioned documents required for address verification should be in the name of the firm. However, in the case of a proprietorship, address proof in the name of the individual proprietor is permissible, as stated in Trade Notice No. 39/2018-19 dated December 12, 2018.
Documents Required for IE Code Application
Partnership firm
- Digital Photograph (3x3cms) of the Managing Partner.
- Copy of PAN card of the applicant entity.
- Copy of Passport (first & last page)/Voter’s I-Card /UID (Aadhar Card) /Driving Licence/PAN (any one of these) of the Managing Partner signing the application.
- Copy of Partnership Deed.
- Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
- Bank Certificate as per ANF 2A (I)/Cancelled Cheque bearing preprinted name of the applicant entity and A/C No.
LLP or Private Limited Company or Section 8 Company
- Digital Photograph (3x3cms) of the Designated Partner/Director of the Company signing the application.
- Copy of PAN card of the applicant entity.
- Copy of Passport (first & last page)/Voter’s I-Card /UID (Aadhar Card) /Driving Licence/ PAN (any one of these) of the Managing Partner/Director signing the application.
- Certificate of incorporation as issued by the RoC
- Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity or telephone bill.
- Bank Certificate as per ANF 2 A(I)/Cancelled Cheque bearing preprinted name of the company and A/C No.
Society or Trust
- Digital Photograph (3x3cms) of the signatory applicant/Secretary or Chief Executive.
- Copy of PAN card of the applicant entity.
- Copy of Passport (first & last page)/Voter’s I-Card /UID (Aadhar Card) /Driving Licence/ PAN (any one of these) of the Secretary or Chief Executive/ Managing Trustee signing the application.
- Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
- Registration Certificate of the Society / Copy of the Trust Deed
- Bank Certificate as per ANF 2A(I)/Cancelled Cheque bearing preprinted name of the Registered Society or Trust and A/C No.
HUF
Digital Photograph (3x3cms) of the Karta.
Copy of PAN card of the Karta.
Copy of Passport (first & last page)/Voter’s I-Card/ UID (Aadhar card)/ Driving Licence (any one of these) of the Karta.
Sale deed in case business premise is self-owned or Rental/Lease Agreement, in case office is rented/ leased or latest electricity /telephone bill.
Bank Certificate as per ANF 2A(I)/ Cancelled Cheque bearing preprinted name of applicant and A/C No.
Bank Proof
Bank Proof
It has been made clear through Trade Notice No. 39/2018-19, dated 12th December 2018, that a cheque lacking a pre-printed name of the account holder will not be accepted. Additionally, the pre-printed cheque may originate from either a savings account or a current account. It is important to note that the aforementioned documents must be uploaded online in digital formats such as GIF or JPEG, and the file size should not exceed 5MB.
Import Export Code Issuance
Upon submission of the online application, along with the necessary fees and required documents, the Importer Exporter Code (IEC) will be generated automatically. Applicants will receive a notification regarding the allotment of their IEC via SMS and email, which will include a hyperlink for downloading and printing the e-IEC. The IEC certificate will be issued solely in a digital format and can be accessed through the provided link. It is imperative for e-IEC holders to update their profiles immediately following the issuance of the e-IEC. Additionally, any changes to the information contained in the IEC or other relevant details must be updated at least once a year, in accordance with paragraph 2.15 of the Handbook of Procedure, 2015-2020.
Although the import-export code is generated automatically, the Regional Authority will perform a post-verification of the online Importer Exporter Code (IEC) in accordance with established guidelines. Should any incorrect or incomplete information be provided, the applicant may face penal or criminal repercussions, and in such instances, the IEC may be subject to suspension or cancellation.
RCMC Registration
Individuals possessing an import-export code are eligible to apply for and receive Registration-Cum-Membership Certificate (RCMC). This certificate serves as official recognition for exporters engaged in trading products that are registered with a government-authorized agency or organization in India. The RCMC is valid for a period of five years and is issued by the relevant Export Promotional Councils or commodity boards within the country. To obtain an RCMC, an exporter must specify their primary business activities in the application, which should be submitted to the appropriate Export Promotion Council or Commodity Board associated with that specific sector.
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