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Meaning of IEC Code in a layman language
IEC means import export code and earlier it was a 10 digit numeric number which is issued by the department namely called Director General of Foreign Trade which is come under ministry of commerce.
Importance of IEC code in India
As we all know the full form of IEC Code however it is very important in Indian person to have a iec code not only important but also mandatory if we do any business of import and export of goods & Services Rendered in India. if you don’t have any import and export code with yourself in that case you will not be eligible to allow the clearance of your goods from the port whether it is ship port or Air Port or any other port.
IEC Code Circular Number
DGFT issued a circular number 15 for the issuance of IEC code. Notice No 23/2018-2019 Delhi, Dated August,2018.
What to do for Issue of IEC Code, License Number with the DGFT Department
Ealier there is a different process for applying the IEC license is that we apply to the DGFT Department by filig the Ayat Niryat Form- “ANF2A” with all the required necessary Documents and submitted to the head office or reginal office of the DGFT (Director General of Foreign Trade). The IEC number is allotted against the Pan number issued to the assess by the income tax department. You cannot take more than one IEC if you have more than one iec it will be considered as illegal and you have to surrender or cancel the additional iec code or lecense with the payment of penalty imposed by the custom department.
Apply IEC code online application with the director general of foreign trade i.e. DGFT Department.
Now a days you cannot apply the iec code office you have to apply the iec code online. Therefore if any person want to take the IEC code in there state in that case you have to apply the fssai license.
What is the Validity of this import and Export License?
The validity of this license is lifetime you have to take the license only one time after that this iec license or code are valid for life time. Three is no need to pay the renewal fees or we don’t require to take the GST license renewed. It will be valid for life time.
What is the Government Fees for takin the IEC License?
Now a Days the Government fees for taking the IEC License is Rs. 500/- However it may vary from time to time. For Modification of application and for the migration of IEC certificate the Government fees is Rs. 200/-
Whether we need to take two License for Import or for Export?
No, only one license is sufficient and this license is allowed you to export import any were from or to outside India.
What is the Time Frame in which we will get our License?
Normally it will take a 2-4 days in getting the license.
Can we take two import export code at a single point of time?
No we cannot apply for two IEC license at a single point of time because it is illegal to take two iec license at a single point of time. If you take the two license by mistake then there is a penalty of Rs. 50,000/- therefore you can need to surrender the additional license as soon as possible.
Surrender of IEC additional License or unused license?
When you have the additional license or when there is no additional need for the existing license then you can surrender the license online. You cannot surrender your iec license online you have to surrender your license offline by submitting the physical application to the regional DGFT department.
Persons and the cases where import export license is not required?
•State Government and the Central government and the local bodies of government are not required to the IEC code. They are come under the exempted category.
•Any persons or individual importing any goods for his personal use not use for manufacturing trading or business purpose. There are also exempted from the iec code.
•Persons importing or exporting goods from Nepal are exempted from the export or import if the consignment is less than Rs. 25,000/-.
•Persons importing or exporting goods from myanmar are exempted from the export or import if the consignment is less than Rs. 25,000/-.
Documents requried for IEC CODE , IEC Registration License (Proprietorship OR Individual)
• ONE RECENT PHOTOGRAPH OF PROPRIETOR.
• COPY OF PAN CARD OF PROPRIETOR.
• COPY OF AADHAAR CARD OF PROPRIETOR.
• COPY OF CANCEL CHEQUE IN THE NAME OF PROPRIETOR.
• EMAIL AND CONTACT NUMBER.
Documents requried for IEC CODE , IEC Registration License for PARTNERSHIP firm
• ONE RECENT PHOTOGRAPH OF ALL.
• COPY OF PAN CARD OF PARTNERSHIP FIRM.
• COPY OF PAN CARD OF ALL PARTNERS
• COPY OF AADHAAR CARD OF ALL PARTNERS.
• COPY OF CANCEL CHEQUE IN THE NAME OF ALL PARTNERS.
• EMAIL AND CONTACT NUMBER OF ALL.
Documents requried for IEC CODE , IEC Registration License for PRIVATE LIMITED COMPANY / PUBLIC LIMITED COMPANY / LIMITED LIABILITY PATNERSHIP / ONE PERSON COMPANY
• ONE RECENT PHOTOGRAPH OF ALL DIRECTORS
• COPY OF PAN CARD OF A COMPANY.
• COPY OF PAN CARD OF ALL DIRECTORS
• COPY OF AADHAAR CARD OF ALL DIRECTORS
• COPY OF CANCEL CHEQUE IN THE NAME OF ALL DIRECTORS
• COPY OF ELECTRICITY BILL WHERE REGISTERED OFFICE OF THE COMPANY SITUATED
• RENT AGREEMENT (IF ANY)/NOC
• EMAIL AND CONTACT NUMBER OF ALL
Documents requried for IEC CODE , IEC Registration License for SOCIETY/NGO
• ONE RECENT PHOTOGRAPH OF ALL
• COPY OF PAN CARD OF SOCIETY/NGO
• COPY OF PAN CARD OF ALL MEMBERS
• COPY OF AADHAAR CARD OF ALL MEMBERS
• COPY OF CANCEL CHEQUE IN THE NAME OF ALL MEMBERS
• COPY OF ELECTRICITY BILL WHERE REGISTERED OFFICE OF THE COMPANY
• RENT AGREEMENT (IF ANY)/NOC
• EMAIL AND CONTACT NUMBER OF ALL
Latest Updates In Import Export Code by the Director General of Foreign Trade i.e. DGFT
•Latest online application procedure for IEC Registration has been introduced by 8th August, 2018 as per that the Requirement of List of Mandatory Documents has been changed now
•Bank Certificate / cancel cheque with pre-printed name
•Address Proof of the Firm copy of Aadhaar card, Voter Id Card/ Passport.
•Now a days Digital Signature are not required.
•Photo is also not required
•Copy of Pan Card is not required. (because pan is validated with CBDT before proceeds)
Other Important necessary links
•Official website: www.dgft.gov.in
•Print your IEC online: http://dgft.delhi.nic.in:8100/dgft/IecPrint
Documents required for Import Export Code
•Cancelled Cheque with a printed name or banker certificate
•Other Document as depend on whether u are sole proprietorship, partnership, company or other entity.