I am looking for
What is IEC (Import Export Code)?
Below are the few exceptions where IEC is not mandatory:
- It is not required in case of goods imported or exported for personal use.
- It is not required when the import or export is done by Govt. of India departments and Ministries, or Charitable Institutions.
- The latest circular issued by Government of India states that IEC is not mandatory for traders registered under GST. In such cases, the PAN will be treated as the new IEC code.
When is IEC required?
- When an importer has to clear his shipment from customs then Customs authorities need IEC to clear the shipments.
- When an importer sends money abroad through banks then the bank needs it to make the transfer.
- When an exporter has to send his shipments then IEC is needed by the customs port.
- When an exporter is supposed to receive money in foreign currency, IEC code is required to transfer the money directly to his account .
Let us now discuss the procedure of applying for IEC. Below is the list of documents that you need to keep ready before registration.
Documents required for applying for IEC
- PAN Number
- GSTIN Certificate
- Copy of Voter Id/Aadhar/Passport/ Driving License
- Covering letter on your company’s letterhead
- Bankers Certificate / Cancelled cheque
- Current Bank Account
- Two copies of passport size photographs of the applicant duly attested by the bank of the applicant.
- Two copies of the application in the prescribed format
- A self-addressed envelope with a postal stamp for delivery of IEC certificate by registered post
- Sale deed/ Memorandum of understanding/partnership deed/ depending on the business and type of ownership
How to apply for IEC Online
Step 3: After entering the details you will receive an OTP on your mobile number and email id for verification
Step 4: After you verify your mobile number and email id, a username and password will be sent to your registered email id. Log in with these credentials.
Step 5: Select ‘Apply IEC’ after logging in
Step 6: Click on ‘Start Fresh Application’
Step 7: Fill all details asked and upload the required documents.
FAQs related to IEC
Is there a separate code for Import and Export?
Are there any renewals in IEC?
How is the registration number allotted for IEC number?
Is the IEC required for import or export of goods for personal use?
Do we need to take different IEC numbers for each firm?
Are Government departments required to have IEC?
Is there a fee or any charges for getting an IEC?
While the Government has clear-cut norms and regulations in place for international commerce, Sellers often struggle to navigate through the same.This is where the leading ecommerce enabler Eunimart with its deep-tech capabilities and domain experts can help you.
Eunimart’s AI based platform helps sellers save time & money by automating all the complex processes involved in international business. With Eunimart, you can easily scale your business to 84 countries through 20+ market-places. Find it hard to believe? Why not create a free account https://go.vdezi.com/signup and try it out right away!