Import Export Code (IEC) Certificate Registration in India

Learn the key benefits of having an Import Export Code (IEC) for your business.

• Overseas Trading: Import Export Code provides you the facility to expand your business over foreign countries. The basic and most important thing you would need while trading overseas is the Importer Exporter Code. IEC opens your road to expansion and growth on foreign lands.
• Legalise Business Overseas: The code provides you the license to export your goods and services to any other country and to import the essentials of your business to your own country. It makes your trade across borders easy and legal.
• Online Service: Now obtaining IEC can be done at the ease of sitting home. If you provide accurate and complete documents, then you can receive it at your home. No need to visit government offices.
• Export/Import Subsidies: The government offers benefits such as export subsidies and excise tax concessions for imports. If the import is completed within the specified time period, certain tax reliefs may apply. For exports, subsidies are available on export taxes. These benefits are only available to those enrolled with the IEC.
• Necessity at Customs: The importer's IEC Code must be declared to Customs, and the Bill of Lading must reflect this. All bills of lading for cargo destined for or trans-shipped through Indian ports must include the Indian consignee's IEC Code.
• Facilitates Electronic Fund Transfer (EFT): EFT (Electronic Fund Transfer) is a service that allows exporters to submit their license fee via the Internet instead of visiting a bank. This aims to make electronic payments more convenient. Only electronically filed applications are accepted.

Follow these simple steps to successfully obtain your Import Export Code (IEC) for your business.

The total cost of obtaining your Import Export Code (IEC) is ₹1,499 only – which includes ₹500 government fees and ₹999 professional fees. There are no hidden charges, and the process is quick and hassle-free!

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IEC serves as the identification number for firms engaged in international trade. The IEC is mandatorily required for any exporter or importer of physical goods from India since no cross-border transaction is legally permissible without a valid IEC issued by the DGFT.

For service exporters, however, the rules of compliance are more specific. Every business dealing in services or technology to foreign clients is supposed to get an IEC Certificate only when they claim benefits under the Foreign Trade Policy or when their service category is notified under Section 7 of the Foreign Trade Amendment Act, 2010. Only in such a scenario does IEC registration become mandatory for accessing incentives, duty exemption, and other government-backed export promotion schemes.

Further, under GST, the service exporters who want zero-rated export benefits must submit a Letter of Undertaking (LUT) at the start of every financial year. This shall enable them to export services without the payment of IGST and facilitate quicker processing of refunds and benefits. In other words, though it is not necessarily required for every exporter of services, the IEC Code becomes very important while claiming government incentives or exporting regulated services or technologies.

You need more than just an Import Export Code to operate an export business in india. Although the IE Code is a necessary for beginning export operations, having one is not sufficient. There are other mandatory documents and registrations in place to get going.

The requirements depend on the type of product you are exporting. There are Export Promotion councils for each commodity and you must obtain registration for each commodities you want to export.

For Example - If you are a Spices exporter, you must obtain a Spice Board Registration to export spices from India . Similarly, Tea Board Registration and Coffee Board registration are required for exporting Tea and coffee, respectively.

There are several other Export Promotion Councils lik APEDA, Rubber Board, MPEDA, TEXPROCIL, CAPEXIL and so on. Apart from that, AD code Registration is required for Foreign transactions and Customs clearance at ports.