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The very first requirement before setting up an import-export business in India is obtaining an “Import Export Code”. This registration code is necessary for undertaking import-export activity. It is a unique 10-digit code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.
It is mandatory for companies and individuals to obtain this code for the purpose of carrying out their import-export business. It is not possible to carry out import and export without the Import Export Code. It is an easy process to obtain the EIC License. It requires fulfillment of certain requirements and compliance of the regulations. The DGFT has several regional offices throughout India and it is possible to obtain IEC from the nearest zonal or regional office. Get IE code certificate in India with help of Company Vakil Import and Export Code Registration expert Attorneys.
The foremost step to obtain the Import Export Code is to make an application to the DGFT along with the necessary documents.
IEC is required in only limited circumstances, when import or export falls under the category of 'specified services' or 'specified technologies', i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc
Import Export Code is a unique 10-digit code required to carry out the business of import export within the territory of India. An individual or a company cannot import or exports goods and services without obtaining this code. Therefore, it is mandatory for a person to obtain the Import Export Code by making an application to the Directorate General of Foreign Trade (DGFT).
The code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. A person can undertake import and export transactions after obtaining the code. The Code also helps in availing various subsidies and benefits.
This code is required to be furnished it before the banks while sending money abroad and while carrying overseas transactions.
The Import Export Code is not required under the following circumstances:
The Directorate General of Foreign Trade (DGFT) has provided online facility for filing IEC application as well as permitted issuing of codes in a digital format. The regional authority of DGFT processes all such applications online. Offline hand filled applications may be submitted in person to the nearest zonal or regional offices or sent by courier or mail.
The costs involved in obtaining the import export code are meager and economic.
CompanyVakil.com can help you to get an import export code registered under in 2-4 working days charging a nominal fee of Rs.1899.
The following documents are required for obtaining the Import Export Code:-
You will be asked to fill an information sheet after making the payment.
For Fresh Filling
Import Export Code or IEC Certificate
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A 10 Digit Code issued by the Directorate General of Foreign Trade to facilitate Import and Export in businesses is known as an Import Export Code.
No, a single IEC License is sufficient for all your Branch Offices.
No, a Single person cannot obtain more than one Import Export Code.
A Person Engaged in the business of import and export of goods and services is required to obtain IEC License.
All Exporters are required to mention IE Code to the customs while exporting their goods out of India and All Importers are required to mention IE Code while clearing the customs.
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