LOGO

Import Export Code In India 2022: Requirements, Advantages & Exemptions

Import Export Code is a Unicode number of 10 digits given by the Directorate General of Foreign Trade (DGFT) to a commercial company for export and import within India.

GET EXPERT
ASSISTANCE

Table of Contents

import export code

Import Export Code In India in 2022

Import Export Code is a Unicode number of 10 digits given by the Directorate General of Foreign Trade (DGFT) to a commercial company for export and import within India. 

Import Export Code helps firms to grow in the international market. To clear customs, the seller must make sure that the importer has an IE number and GST Registration before launching the import of products.

If the importer doesn’t have both the IE Code and GST Registration in place, merchandise is destined to the port and begins to incur demurrage charges or may be destroyed.

Once issued, the Import Export Code is valid throughout the life of the company as well as there’s no requirement to renew the code. Well, in this article, we will be discussing the Import Export code registration criteria and their norm, so without any delay, let’s get started.

How do I apply for Import Export Code Registration?

apply for Import Export Code Registration

 To obtain your license online, you must complete the easy procedure for import export code registration.

 Step 1: The required documentation including bank details, as well as DSC, must be presented

Step 2: The web-based IEC application form is filed with the Directorate General of Foreign Trade (DGFT)

Step 3: After the documents and application have been checked by the authorities, the export code for import is issued to the entity as a copy of the business.

Documents Essential for Import Export Code Registration

The required documents for the import export code registration are fairly easy to put together. There are only a handful of documents required and will be listed in the following.

  • The PAN number of the business (not applicable to the company’s owner)
  • Applicant’s PAN and Aadhaar card (driving license/Aadhaar/voter ID)
  • Incorporation certificate/partnership deed
  • Address evidence (electricity bill, rent agreement, or sale deed for the office address)
  • A copy of the canceled cheque or banker certificate of current account under its name. business.

Eligibility Criteria for IEC Registration

Any kind of business registration such as sole proprietorship or partnership, private limited company or charitable organizations that handle the export and import of goods are eligible for registration with an Import Export code, regardless of size. 

However it is important to note that Import Export Code registration is not required for IEC is not required to import or export items for personal use that isn’t connected to manufacture, trade or agriculture. There is no need to have the establishment of a company.

Benefits of Import Export Code Registration

  • The IEC registration allows businesses to gain access to the world market, which includes registration with E-commerce websites.
  • Businesses can benefit from government programs such as MEIS, the Merchandise Export From India Scheme (MEIS) and or the Service Export from India Scheme (SEIS) and many more from export promotion and customs
  • There are no compliance requirements for registration and therefore running the business is straightforward
  • The process of getting import export code is not difficult and is achievable by submitting a handful of documents.

Exemption from Import Export Code

  • People who undertake the trade and/or exports of products for private reasons, and not related to agriculture, trade, or manufacturing
  • Through the Indo-Myanmar border regions along with China, the parties or individuals who export or import goods into Nepal and Myanmar in a single consignment should not exceed Rs25,000.
  • In appendix 3 and Schedule 2 in ITC exemption from obtaining IEC will not be granted for the export of material such as organisms, chemicals, special and equipment (SCOMET)
  • Ministries/departments of central and state governments.

In the future, ongoing IEC numbers are utilized by commercial PSUs as well as the categories of exporters/importers that are listed against them for export and import purposes.Commercial public sector enterprises (PSU) who have received a PAN However, they will require the export code number of import. This permanent IEC number mentioned above is valid for non-commercial PSUs.

S.No Code Numeral Categories of Importers or Exporters
1 0100000011 Every one of the Ministries / Departments of Central Government and all agencies that are wholly or partly owned by them.
2 0100000029 All Ministries and Departments that are part of a State Government and agencies wholly or partly controlled by them.
3 0100000037 Diplomatic personnel, counselor staff from India along with officials and staff of UNO and its special agencies.
4 0100000045 Indians returning from or going abroad and who are entitled to benefits from Baggage Rules.
5 0100000053 Hospitals and other institutions who import or export goods for personal use, but not associated with manufacturing, trade or agriculture.
6 0100000061 People who import/export goods from or to Nepal
7 0100000070 People who import/export goods from or to Myanmar through the Indo-Myanmar border regions
8 0100000088 Ford Foundation
9 0100000096 Importers of goods that are destined for display or use at exhibitions, fairs, or similar occasions under the guidelines in ATA Carnet. This IEC number is also utilized by importers to import goods to exhibits/fairs, as per Para 2.29 of the HBPv1.
10 0100000100 Director National Blood Group Reference Laboratory, Bombay or their authorized office.
11 0100000126 Individuals / Charitable Institutions / registered NGOs that import goods, which are exempt from customs duty by a notification issued by the Ministry of Finance for bonafide use by those of natural disasters.
12 0100000134 Individuals who are permitted to import or export permissible products according to the guidelines issued from time date, from or to China via Gunji the Namgaya Shipkila Nathula ports as per the value limits of a single consignment, as specified in paragraph 2.8(iv) below.
13 0100000169 Exports and imports that are not commercial from entities that are authorized by the Reserve Bank of India.

Why Odint consulting?

Our specialists will guide you through the entire process from filling out the checklist to processing the documents

  • We’ll keep you up-to-date on how your applications are progressing.
  • Our specialists will handle the registration for the import export code procedure with ease and at the most affordable rates
  • The entire process with us is about 10 days.
  • We can assist you with getting your import export code registration procedure online.

Company Setup

Book free end-to-end experts consultation with Odint company formation experts

GET EXPERT
ASSISTANCE

Conclusion

Import Export Code helps firms to grow in the international market. However, to obtain your license online, you must complete the easy procedure for import export code registration.

So, if you still have any queries related to the Import Export code registration in India, we are ODINT Consultancy. We’re we are here to assist you at each step of your way.

FAQ’s

IEC is an acronym as an acronym for the import and export codes that is a 10-digit code given by the director general for foreign trade in the department of commerce in the government of India.

Any company or person involved with international trade in the import and export of products and services must sign up for an IE code.

IE Codes aren’t a tax-free registration. However, certain customs duties could be charged based on the type of product.

No. IEC is a legally binding document that must be acknowledged by the government. of India as an Exporter/importer of services and goods. 

To apply for IE codes, you must present a photocopy of your PAN card as well as your Aadhaar card as well as proof of address for the business, and proof of constitution of business partnership deeds, incorporation certificate etc.

No. IEC is a legally binding document to be recognized by the government of India as an importer or exporter. 

Yes. To make modifications it is necessary to file an issue with DGFT and provide the appropriate documents for the changes. 

Follow us

Privacy Policy Terms and Conditions

©2021 ODINT Consulting LLP

Looking for an Expert Guidance?

Get 30 minutes of free consultation with our company formation experts!

Will help you to setup your company anywhere in the world

Get Dedicated company formation consultant

End-to-end management and consulting

GET EXPERT
ASSISTANCE

Share to...