IEC Registration

Overview of FCRA Registration

Types of FCRA Registration

Benefits of FCRA Registration

Process of Private Limited Company Registration in India

Eligibility Criteria for FCRA Registration

Entities are not eligible for FCRA Registration

Process of FCRA Registration

Validity of FCRA Registration

FAQ

Overview of the Import Export Code (IEC Code)

Every import/export company owner in India has to have an import export code, which is a special 10-digit number. The Director-General of Foreign Trade (DGFT), Ministry of Commerce, issues the IEC code, which requires neither filing nor renewal. Importers need an IEC Number in order to pass customs, send packages, and send money to overseas banks. To deliver goods and collect money from international banks, exporters need their IEC Code. In India, importers and exporters cannot do business without an IEC Number.

Advantages of IEC Code

Online IEC registration enables entrepreneurs, notably those in e-commerce, to enter the worldwide market.
Companies may take use of government programmes like the MEIS (Merchandise Export from India Scheme), SEIS (Service Export from India Scheme), and others from customs and export promotion.
There are no compliance requirements after import export code registration, making it reasonably easy to manage the firm.
IEC Code may be acquired online easily and quickly with just the most fundamental of paperwork.

Import-Export Code Validity

An IEC certificate is good for a lifetime. This implies that after obtaining an IEC code, the entity may use it for any import or export operations. After a specific amount of time, the IEC code no longer has to be renewed or updated.

The Firm’s Nature Any person, business, partnership, Limited Liability Partnership (LLP), or other form of organisation engaging in import or export activity may receive an IEC Code IEC certificate. For all such transactions, whether you are an exporter or importer, obtaining an IEC certificate is required. A company must get an IEC in advance even if it is not currently actively engaged in import or export operations but has future intentions to do so.

Conditions for Applying the IEC Code

The following conditions must be met in order to apply IEC code online:

It is necessary to have a current Permanent Account Number (PAN) card issued by the Indian Income Tax Department.
Since the IEC certificate is issued in the name of the applicant, the applicant must have a bank account in their name.
The company must register with the Registrar of Companies (ROC).
The applicant must provide the DGFT office with all necessary documentation, including identification, proof of residence, and information on the company entity.

How can I sign up for an import export code?

Online importer exporter code registration in India is a straightforward procedure that only requires a few steps to accomplish. Here is how you may apply online for an import export licence in India:
Visit the official IEC registration website for India, which is maintained by the Directorate General of Foreign Trade (DGFT).
If you are a new user, click the “Register” button to set up an account by entering your contact information (name, email, and phone).
Once you’ve registered, use your registered email address and password to access the DGFT website.
‘Online IEC Application’ should be selected. The ‘Online IEC Application’ button on the DGFT website’s main page will take you to the import export code application form.
Complete the online IEC application form with all necessary information, including the company or person’s name and address, PAN number, contact information, bank account information, and any necessary supporting paperwork.
Pay the online import/export code application fee with your credit/debit card, internet banking, or debit card.
After completing the application, uploading the required files, and paying the application cost, evaluate your submission and press the “Submit” button.
You may check the progress of your application online after submitting the IEC application. You will get an IEC certificate on your registered email ID after the IEC has been issued.

Documents Needed to Register for the Import Export Code (IEC)

The following is a list of the papers needed for IEC registration.

PAN card for the business (owner’s case not relevant)
PAN and Aadhaar cards of the applicant (driver’s licence, Aadhaar, and voter ID)
Certificate of incorporation or Partnership Deed
Address verification (electricity bill, lease, or sale) Office location’s deed)
Copy of a bank certificate or cancelled check leaf for the current account held in the business’s name.

Qualifications for IEC Code

No matter the size, any form of company registration, including sole proprietorships, partnerships, private limited corporations, and charity organisations engaged in import and export commerce in India, may apply for an import export code. For import/export of products intended for personal use and unrelated to commerce, manufacturing, or agriculture, an IEC Number is not necessary. An establishment of a business is not required.

Import-Export Code Exemption

Individuals who import and export goods from or to India for personal purposes unrelated to business, agriculture, or manufacturing

The value of a single consignment being imported or exported from Nepal or Myanmar across the Indo-Myanmar border region of China (through the Namgaya Shipkila, Gunji, and Nathula ports) cannot exceed US$25,000.

According to appendix 3, schedule 2 of the ITC, exports of materials, organisms, special chemicals, equipment, and technology (SCOMET) by central and state government ministries and departments are not excluded from the need to get an IEC Code.

Non-commercial PSUs and the categories of importers and exporters listed against them must use the following permanent IEC numbers for import and export purposes.

Code Number S. NoImporters and Exporters by Category

0100000011 All Central Government Ministries, Departments, and Organisations, whether entirely or in part controlled by them.
0100000029 All departments and ministries of the state government, whether they are fully or partly controlled by them.
0100000037 Members of the diplomatic corps, Indian counsellor officers, and representatives of the UN and its specialised organisations.
0100000045 Indians returning from / going abroad and claiming benefit under Baggage Rules.
0100000053 Persons / Institutions / Hospitals importing or exporting products for personal use, not associated with commerce or manufacturing or agriculture.
0100000061 individuals that import or export commodities to or from Nepal
0100000070 People use the Indo-Myanmar border regions to import or export commodities into or out of Myanmar.
0100000088 Ford Foundation
0100000096 Importers importing products in accordance with ATA Carnet regulations for fairs, exhibits, or other comparable events. According to HBPv1 Paragraph 2.29, importers may also use this IEC number when importing for trade shows or other events.
0100000100 Director, National Blood Group Reference Laboratory, Bombay, or their designated offices
0100000126 People, charitable organisations, and registered non-profit organisations importing products that are free from customs duty according to a notification issued by the ministry of finance for genuine use by victims of natural disasters.
0100000134 Individuals that import/export legal commodities from/to China via the ports of Gunji, Namgaya Shipkila, and Nathula, subject to the value limitations for a single consignment as stated in Paragraph 2.8(iv) above.
0100000169 non-commercial imports and exports carried out by organisations with RBI authorization.

Commercial public sector enterprises (PSUs) would still need to have the import export code number even if they have a PAN. The aforementioned permanent IEC number must be utilised by non-commercial PSUs.

Glossary of Importer Exporter Codes

Automated Export System (AES)

U.S. exporters utilise the Automated Export System (AES) to electronically report their foreign shipments to the Census Bureau, which helps to generate data on U.S. exports and trade.

Regulations for Foreign Trade

Government regulation of unfair techniques of competition and unfair or deceptive commercial activities or practises fall within the legal category of trade regulation, which is sometimes grouped with antitrust.

Definition of POA

A formal authorization to represent or act on another’s behalf in personal or professional matters, as well as in legal matters, is known as a power of attorney or letter of attorney. The principle, grantor, or giver (of the power) is the individual who gives the other the go-ahead to accomplish anything. The agent or, in certain common law countries, the attorney-in-fact, is the person with the authority to act.

Buy Now

Download

How do I make a yearly payment?: Serenity Is Multi-Faceted Blockchain Based Ecosystem, Energy Retailer For The People, Focusing On The Promotion Of Sustainable Living, Renewable Energy Production And Smart Energy Grid Utility Services.
How this technology works?: Serenity Is Multi-Faceted Blockchain Based Ecosystem, Energy Retailer For The People, Focusing On The Promotion Of Sustainable Living, Renewable Energy Production And Smart Energy Grid Utility Services.
What is the comunity benefit?: Serenity Is Multi-Faceted Blockchain Based Ecosystem, Energy Retailer For The People, Focusing On The Promotion Of Sustainable Living, Renewable Energy Production And Smart Energy Grid Utility Services.
What is the comunity benefit?: Serenity Is Multi-Faceted Blockchain Based Ecosystem, Energy Retailer For The People, Focusing On The Promotion Of Sustainable Living, Renewable Energy Production And Smart Energy Grid Utility Services.