Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society.
An import export code is a unique 10-digit code that is required for every import/export business owner in India. IEC is required by importers to clear customs and shipment, and to transfer money to foreign banks. Exporters require their IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC.
How to Register for an IEC Code
Eligibilty for IEC Code Registration
Any type of business registration: sole proprietorship, partnership, private limited companies, charitable organizations dealing with import and exports of goods can register for import-export code, irrespective of the size. However, an IEC is not required for import/export of goods for personal use, which are not connected with trade, manufacture, or agriculture. There is no need for a business set up.
Documents required for iec code
For IEC Code Registration, the following documents are required:
- Individual’s or Firm’s or Company’s copy of PAN Card.
- Individual’s voter id or Aadhar card or passport copy.
- Individual’s or company’s or firm’s cancel cheque copies of current bank accounts.
- Copy of Rent Agreement or Electricity Bill Copy of the premise.
Registration process
To get your import export license online, you will need to do the following simple IEC registration steps.
- Visit https://www.dgft.gov.in
- Visit IEC Code Registration
- Register by entering the needed details.
- Enter the OTPs received on email and mobile number.
- Upon Successful validation of the OTP, you shall receive a notification containing the temporary password which you need to change upon first login.
- On successful registration you will be able to Apply for IEC.
To view the help documents, click here.
It generally takes only 1 day to get your Import Export Code/IEC License. But in certain cases, it may take another day since it is based on final approval from DGFT. So it takes 1-5 working days to get your Import Export License registration certificate.