DGFT, the Director General of Foreign Trade, provides a unique 10-digit number called the Import Export Code, which is awarded to individuals who import and export goods and amenities to and from non-Indian companies and individuals. To function as a business individual, it is compulsory for you to possess IEC, which is provided based on your PAN. It is based on your PAN details. A company’s IEC code can be thought of as a PAN. By registering under IEC, these import-export companies are divided into the following groups: Society, Trust, Partnership, Proprietorship, HUF, LLP, a limited company, etc.
The documents you need to apply for registration and receive an IEC
- The candidate’s cover letter, written on the company’s letterhead.
- Application pages must be signed by the applicant on every page
- Applicants must fill out part 1 and part 4 electronically and submit them.
- It is important not to submit a hard copy of part 1 of the document.
- DGFT offices should receive applicants’ applications in the correct format.
- Only the required areas of Part 2 of the form need to be filled out.
- To apply, a Demand Draft or EFT containing Rs 2.5 lakh must be initiated. A duplicate bank receipt must also be attached.
- Applicants’ bankers are required to provide a certificate certifying they are the bankers of the firm in accordance with Appendix 18A.
- A passport-size photo of the Banker and two other photos
- It is possible to get delivery of IEC by stamping an envelope with a 25/- postal stamp and addressing it to yourself, or by DD or challan from the bank for 100/-.
Your Business Concern’s Complete Guide to Finding the IEC Code
- Bank account with a current balance
- You will need a certificate from your banker
- PAN number of the applicant
- Registration fee of 2.5 Lac INR
- DGFT RL should receive the registration application within 15 days
- Even though email addresses are not required, they facilitate easier communication and speed up the process.
What is the process for applying for an IEC for my company?
It costs Rs 250 to register your business with the Directorate General of Foreign Trade (DGFC) office in order to get the ICE code. You can check the status of your application in the following manner if you have already done so and are awaiting further steps from the government. You can find out what the status of your application is by going to DGFT’s website, then clicking on the IEC tab.
Follow the steps one by one if you are having trouble understanding how to register your business under the IEC code:
- You can visit the official website of the Directorate of Foreign Trade of the Government of India.
- The “IEC” option can be found in the drop-down menu at the top of the “services” tab.
- Select “Online IEC application” from another sub menu that appears.
- Once you press the “search” button, you will be presented with a full page filled with different boxes where the applicant can enter their PAN card information.
- In addition to entering your details, you will need to complete the Captcha.
- You will receive a One-time password on your phone and in your mail once you enter your phone number and your mailing address.
- Both passwords must be entered in the OTP box.
- Filling out the Application Entity details is the next step.
- Once the last step has been completed, add the branch details on the upper side of the same page. If any field is missing, click “ADD”. If there are no branches, leave it blank.
- You must provide the name, address, phone number, and email address of the proprietor, trustee, or partner. You must also provide your PAN number, birth certificate, proof of residency, and mobile number.
- The important documents should be scanned and uploaded as JPEGs or PDFs.
- If you have paid your fees of rs 500/- by card payment or internet banking, please make sure to “verify pay” to complete the payment process.
- In this step, you can verify that you have completed all the previous steps correctly. Corrections can be made if any errors are found. Once you are a hundred percent sure, you can print your application.
- In this final step, you’ll see the previous details and the number. The DGFT will be auto-selected and will appear when you click it. Now your e-ICE will be displayed and you’ll be able to download it.
I am pleased to inform you that you have successfully generated your Import Export Code (IEC code).
Payment for the application can be made through NFT or Demand Draft from any large national or private bank, such as SBI bank, ICICI bank, Punjab National, etc. You can also pay using your online wallet.
The IEC code is not required for certain categories of businesses, including some State and Center departments and trades along the Indo-Myanmar and Indo-Nepal borders up to Rs 25000.
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