IEC code is a mandatory unique 10 digit code issued by Director General of Foreign Trade (DGFT), under the official banner of Ministry of Commerce, and Government of India to the any size of companies. With an absence of IEC code, entities could not able to proceed their import and export business in any form.
It carries a mandate process to apply for IEC code, here we at myonlineCa have come up with to share in-depth insights about how to search for IEC code and get the work done on Import Export legal formalities.
Registration for IEC Code:
To generate IEC code for your business, an application for grant of IEC number is made by the Registered/Head office of the applicant and you need to visit the nearest Regional Authority of Directorate General Foreign Trade. IEC number is issued on a official PAN number. The applicant can only apply for one IEC number on single PAN number.
To register for IEC code, it carries an application fee of Rs. 250.
The applicant can proceed by with the payment method:
- Demand Draft of any Bank or payment through NEFT.
- HDFC Bank, State Bank of India, Punjab National Bank, ICICI Bank, UTI Bank, Central
- Bank of India and more others.
- TR6 challan with Duplicate Copy in nearest branch of Central Bank of India.
- TR6 challan need to be attached with IEC code Application.
Mandatory Requirements to apply for IEC Code Number:
- PAN Number
- Current Bank Account.
- Bankers Certificate.
- IEC Code Number Application Fee Rs 250.00 ( It is highly recommended to pay via EFT(Electronic Fund Transfer ) and submit IEC Online Application form, to receive IEC Number instantly).
- The physical application containing required documents should reach DGFT RL Concerned within 15 days of its online submission.
- E-mail is not mandatory. If it is provided it will facilitate faster communication
Following are documents required to generate IEC Code:
- Cover letter on your company’s letter head to generate new IEC code number.
- Each individual page of the application has to be signed by the candidate.
- Part 1 & Part 4 has to be filled in by all applicants. In case of applications submitted electronically.
- Avoid submitting hard copies of Part 1 in cases where applications are submitted.
- Two copies of the application in prescribed format must be submitted to your regional Jt. DGFT Office.
- Only relevant portions of Part 2 need to be filled in.
- Rs 250.00 Bank Receipt (in duplicate)/Demand Draft/EFT details evidencing payment of application fee in terms of Appendix 21B.
- Certificate from the Banker of the applicant firm in the format given in Appendix 18A.
- Self certified copy of PAN issuing letter or PAN (Permanent Account Number) Card issued by Income Tax Authority.
- Two copies of passport size photographs of the applicant duly attested by the Banker of the applicant.
- Self addressed envelope with Rs.25/- postal stamp for delivery of IEC certificate by registered post or challan/DD of Rs.100/- for speed post
Profile of Importer/ Exporter
Each Importer/Exporter shall be required to file importer/ exporter profile once with the Regional Authority in Part 1 of ‘Aayaat Niryaat Form – ANF2A’.
Following are the categories of importers or exporters which are exempted from obtaining Importer – Exporter Code (IEC) number:
- Importers covered by clause 3 (1) [except sub-clauses (e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of the Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
- Ministries/Departments of the Central or State Government.
- Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
- Persons importing/exporting goods from/to Nepal provided the CIF value of a single Consignment does not exceed Indian Rs.25, 000.
- Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas provided the CIF value of a single consignment does not exceed Indian Rs.25, 000.
The exemption from obtaining Importer-Exporter Code (IEC) number shall not be applicable for the export of Special Chemicals, Organisms, Materials, Equipments and Technologies (SCOMET) as listed in Appendix- 3, Schedule 2 of the ITC(HS) except in the case of exports by category(ii) above.