Import Export Code (IEC) Registration

Import Export Code (IEC) is a mandatory prerequisite for all entities involved in the import of export of goods and services. It is a pan-based registration; hence, against one pan number the director general of foreign trade can issue only one IE Code.

To apply for an IE Code, the entity must have a valid PAN, GSTIN and a bank current account. The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries issues an IE Code to the applicant after the application is submitted along with supporting documents.

IE Code registration is a permanent registration and is valid for a lifetime. Therefore, there is no requirement for updating, filing and renewal of IE Code registration. It is a one-time registration and requires no additional compliance.

Entities Exempted From Registration of IE Code:

1. Import and export by Central Government or its agencies are not required to have an IE Code. Also, any other specified list under Foreign Trade (Exemption from the application of Rules in certain cases) Order, 1993 are exempted from holding an IE Code registration.
2. IE Code is exempt if import or export of goods is done for personal use.

Documents Required for IE Code Registration:

The following documents are required for applying for IEC registration:

1. Photograph of the Promoter/(s)
2. PAN Card of the Promoter/(s)
3. Any government issued document with photo of the promoter/(s) (Passport/Voter’s ID/Driving Licence/Aadhaar Card)
4. Sale Deed in case if the business premise is owned along with any utility bill
5. Rental/Lease Agreement in case of a rented premise along with an NOC from the owner of the property.
6. Recent bank statement of the entity.

Import Export Code Issuance:

After submission of the online application along with the fees and requisite documents, IEC will be auto-generated and the certificate can be printed for records. IEC is a ten-digit code, comprising alphabets and numbers.

Even though the IE Code is auto-generated, the Regional Authority would conduct post-verification of the online IEC as per the guidelines and in case there is any wrong or incomplete information furnished, the applicant would be liable for penal or criminal action and in such case, IEC would be either suspended or cancelled.

RCMC Registration:

A Registration Cum Membership Certificate (RCMC) is a certificate issued by the Federation of Indian Export Organizations (FIEO) and one of the various Export Promotion Councils (EPC) or Commodity Boards – primarily agencies and organizations that work towards the promotion and development of export businesses and are authorized to do so by the Government of India. It is a membership certificate issued for five years and signifies that the holder of the certificate is registered with FIEO or Commodity Board. The applicant of the RCMC has to declare their primary line of business while applying for it, and possession of an RCMC entails an exporter to all the benefits and advantages of the respective parent organization.

MyDBiz is the market leader in providing Import Export Code registration services in India. Before we get started with the engagement, all the required information and documents are collected. An engagement manager would be assigned who will be the point of contact till the engagement is completed. The average time required to complete the IEC registration is 1 working day depending on the government processing time and client document submission.

For more information, feel free to contact us at info@mydbiz.com or call us at +91 9632 993 993.