{"id":16637,"date":"2021-06-23T09:30:35","date_gmt":"2021-06-23T04:00:35","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=16637"},"modified":"2024-06-03T13:45:52","modified_gmt":"2024-06-03T08:15:52","slug":"how-to-get-import-export-code-registration-for-small-businesses-in-india","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/how-to-get-import-export-code-registration-for-small-businesses-in-india\/","title":{"rendered":"How to Get Import Export Code Registration for small businesses in India?"},"content":{"rendered":"

\"\"<\/p>\n

In these developing era of competition, everybody is trying to grow their businesses beyond the limits of national market. However, taking business to global level, there are numerous things that needs to be taken into consideration for commencing an organization and get Import Export code Registration<\/a> and License. Obtaining the Import-Export code registration is one such needful to start a small business of Importing or exporting from India.<\/p>\n\n\n\n
Table of Content:<\/strong><\/p>\n
    \n
  1. What is an IEC (Import Export Code)?<\/a><\/li>\n
  2. Who is the regulatory authority to issue Import Export Code?<\/a><\/li>\n
  3. Advantages of Import Export Code Registration<\/a><\/li>\n
  4. To whom Import Export Code is applicable?<\/a><\/li>\n
  5. Situations where Import Export Code is Mandatory<\/a><\/li>\n
  6. Can Import Export Code be applied online?<\/a><\/li>\n
  7. Is Import Export Code necessary for mini scale business?<\/a><\/li>\n
  8. Steps Involved for Registration of Import Export Code<\/a><\/li>\n
  9. Requisite Documents to upload for Import Export Code Registration<\/a><\/li>\n
  10. Certain cases where Import Export Code is not required<\/a><\/li>\n
  11. Duplicate Copy of Import Export Code Number if lost<\/a><\/li>\n
  12. How to surrender Import Export Code if required?<\/a><\/li>\n
  13. Conclusion<\/a><\/li>\n<\/ol>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    What is an IEC (Import Export Code)?\u00a0<\/strong><\/h2>\n

    The Importer-Exporter Code is a unique 10-digit code for business identification that is absolutely compulsory for Imports or Exports while clearance in custom. After the launch of\u00a0Goods and Service Tax in India, Import Export Code<\/a> is the same as the Permanent Account Number of the firm. It is mandatory for a small business to obtain, in order to expand its business throughout the world. Those who wants to facilitate cross-border services need not avail IEC except where such activities assure advantages under FTP for the service provider.<\/p>\n

    Who is the regulatory authority to issue Import Export Code?<\/strong><\/h2>\n

    The Import-export code is issued from the office of Director General of Foreign Trade (DGFT), Ministry of Commerce for import-export business in India.<\/p>\n

    Advantages of Import Export Code Registration<\/strong><\/h2>\n
      \n
    • Opportunity to expand Business: <\/strong>IEC assists you in taking your services or product to the global market and grow your businesses internationally.<\/li>\n
    • Availing numerous advantages: <\/strong>The Companies could avail several advantages of their imports\/ exports from the Director General of Foreign Trade, Custom Authorities, Export Merchandising Council etc., on the basis of their IEC registration.<\/li>\n
    • No Return Filing: <\/strong>There is no requirement of filing any return under Import Export Code. If the allotment of IEC once done, then there is no requirement to follow any sort of processes for sustaining its validity. Even for export transactions, there isn\u2019t any need for filing of any returns with the concerned authority.<\/li>\n
    • Processing with an ease: <\/strong>It is truly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application to the concerned authority. No proof of any export or import is required of for getting IEC code.<\/li>\n
    • Valid for Life-time: <\/strong>IEC code is effective for the unlimited validity of an entity and requires no renewal. It can be used by a company or an individual against all the transactions related to import and export.<\/li>\n<\/ul>\n

      To whom Import Export Code is applicable?<\/strong><\/h2>\n
        \n
      • Partnership<\/li>\n
      • Proprietorship<\/li>\n
      • Limited Liability Partnership<\/li>\n
      • Limited Company<\/li>\n
      • Trust<\/li>\n
      • HUF and society<\/li>\n<\/ul>\n

        Situations where Import Export Code is Mandatory<\/strong><\/h2>\n
          \n
        • At the time of clearance of shipments from the customs then custom authorities\/Government ask for this IEC Certificate.<\/li>\n
        • When an importer makes any foreign transaction via banks then it\u2019s needed through the\u00a0bank.<\/li>\n
        • When an exporter has to ship his shipments then it\u2019s needed by the customs port.<\/li>\n
        • When an exporter receives cash in foreign currency directly into his bank account then it\u2019s required by the bank.<\/li>\n<\/ul>\n

          Can Import Export Code be applied online?<\/strong><\/h2>\n

          Yes, it can be applied either online or offline, by giving an application to the DGFT. The\u00a0IEC code\u00a0is valid for all the branches of an enterprises. IEC code is issued against PAN number and only\u00a0one IEC code\u00a0is issued against\u00a0one\u00a0PAN\u00a0number.<\/p>\n

          Is Import Export Code necessary for mini scale business?<\/strong><\/h2>\n

          For a Business person to expand its business internationally, an IEC code is mandatory for exporting any goods. The holder of the Import Export code becomes a registered trader internationally.\u00a0\u00a0It helps the trader in clearing the consignment from the customs authority and other authorities.<\/p>\n

          Steps Involved for Registration of Import Export Code<\/strong><\/h2>\n
            \n
          • Step 1: <\/strong>Firstly, you need to prepare and file an application form in the format as specified \u2013 Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.<\/li>\n
          • Step 2:<\/strong> Then you need to prepare the required documents with respect to your identity & legal entity and address proof with your bank details & the certificate in respect of ANF2A.<\/li>\n
          • Step 3: <\/strong>Once your application is done, you need to file with DGFT by attaching DSC (Digital Signature Certificate) and pay the required fee for the IEC Registration.<\/li>\n
          • Step 4: <\/strong>Finally, after approving of application, you would receive the IEC Code in a soft copy on the registered email or message on registered phone from the government.<\/li>\n<\/ul>\n

            Requisite Documents to upload for Import Export Code Registration<\/strong><\/h2>\n

            For Registration of Import Export Code following documents are needed:<\/p>\n

              \n
            • Company\u2019s Certificate of incorporation or Firm Registration certificate.<\/li>\n
            • Copy of PAN Card of Individual\/ Firm\/ Company as the case may be.<\/li>\n
            • Individual\u2019s Aadhar card or passport copy.<\/li>\n
            • Cancelled cheque copy or Bank Certificate from bank in which Company or Firm is account holder.<\/li>\n
            • Copy of Lease Agreement or the copy of Electricity Bill of the premise.<\/li>\n
            • Address proof for delivery of IEC certificate by registered post.<\/li>\n<\/ul>\n

              Certain cases where Import Export Code is not required<\/strong><\/h2>\n

              According to the latest circular issued by the Government Authority of India, Import Export Code is not must for all traders who are already registered under GST. In all those cases, the\u00a0PAN of the trader shall be considered as new IEC code for the purpose of import and export.\u00a0Import Export Code (IEC) is not required to be taken in case where goods are exported or imported for personal effects and are not used for any commercial\/business purpose.\u00a0Export\/ Import done by the Departments\/Ministries of Government of India, Notified Charitable institutions does not require Import Export Code.<\/p>\n

              Duplicate Copy of Import Export Code Number<\/strong> if lost<\/strong><\/h2>\n

              Where an IEC Number is misplaced or lost, the regulatory issuing authority may consider requests if necessary for grant of a duplicate copy of IEC number, if attached with an affidavit.<\/p>\n

              How to surrender Import Export Code if required?<\/strong><\/h2>\n

              If an IEC holder does not wish to continue operating the allotted IEC number, he\/she may surrender the same by informing the issuing authority through an application. On receipt of such information, the issuing regulatory authority shall instantly abort the registration and transmit it to DGFT electronically for onward transmission to the Customs and Regional Authorities.<\/p>\n

              Conclusion<\/strong><\/h2>\n

              About\u00a0half of the small\u00a0business\u00a0entities in our\u00a0country\u00a0are\u00a0substantially\u00a0laid low with\u00a0the\u00a0exchange\u00a0obstacles. With IEC registration in hand,\u00a0you can\u00a0bypass\u00a0the inevitable\u00a0barriers\u00a0that\u00a0restrict\u00a0global\u00a0buying and selling.
              \nAdditionally, it opens the door of\u00a0opportunity\u00a0for\u00a0a great deal-wanted\u00a0commercial enterprise\u00a0growth\u00a0for the\u00a0businesses\u00a0searching\u00a0to make their mark with\u00a0expanded\u00a0market\u00a0presence.<\/p>\n","protected":false},"excerpt":{"rendered":"

              In these developing era of competition, everybody is trying to grow their businesses beyond the limits of national market. However, […]<\/p>\n","protected":false},"author":2,"featured_media":16638,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[73],"tags":[],"yoast_head":"\nHow to Get Import Export Code Registration for small businesses in India?<\/title>\n<meta name=\"description\" content=\"How to Get Import Export Code Registration for small businesses in India? 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