Importer Exporter CodeIEC in Andhra Pradesh - Process, Documents, and Fees

The import-export code is a registration code used by import-export enterprises that are registered with the Indian Customs Department and specialize in product import and export. The IE Code for Andhra Pradesh is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India.

It is very significant for import-export code registration in Andhra Pradesh, which is not only important but also mandatory if undertaking any business involving the import and export of products and services supplied in the state. If you do not have any import and export codes, you will not be able to clear your goods from the port, whether it is a shipping port, an airport, or another port.

To obtain the Import Export Code in Andhra Pradesh, apply to the Directorate General of Foreign Trade with the necessary documentation. Thus, following the application process, the DGFT will issue IE Code to company within 15-20 business days. Once you have an IE Code, it is valid for lifetime and does not require renewal. The IEC Registration in Andhra Pradesh is valid for as long as the business exists.

Once issued, the IE Code Registration can be used by the entity indefinitely and does not require renewal or filing like GST and PF registrations. As a result, it is suggested that most firms that import or export goods and services from India obtain an IE code. Most importers and merchants cannot import items without an IEC code, and exporters cannot profit from the DGFT Department's export scheme, among other things.

IEC Certificate [Sample]

While an IEC code allows you to operate import-export business in Andhra Pradesh, It comes with some additional benefits. Let’s take a look at how obtaining an IEC code will help your import export business :

Legalize overseas trade

The IEC code facilitates your overseas trade and legalizes your import and export business. It makes your trade across borders easy and legal.

International Business Expansion

• Import-export code allows your product to reach the global market, which results in huge business expansion.
• Obtaining an IEC Opens your door to the online international marketplace like Alibaba and Amazon.

Import/Export Subsidies

• An exporter can claim a refund on taxes imposed while exporting goods.
• If you promise to import goods within a specific time, The government even waives some import duties as well.

Easy Registration Process

• You can get an import/export code registered by providing some basic documents like a PAN card, Address proof, Bank details, etc.
• There is no need to fulfil any compliances like annual filings or return fillings. It is a hassle-free process.
• The entire registration process is online. There is no need to go anywhere to obtain an IEC.

Facilitates Electronic Fund Transfers (EFTs)

EFT is a new service offered to exporters that allows them to pay the license fee online via the internet rather than visiting a bank to make the payment.

However, it is typically suggested for every individual or business that plans to engage in either the export or import of goods or both, to obtain an ICE license. Thus, there are various situations where IEC registration is mandatory. These are:

• When an importer has to clear his shipments from the customs, then an Import Export code is required by the customs authorities.
• The IEC code is required by the banks when the money is sent abroad through banks by the importer.
• The Import Export license is required by the customs port when the shipment has to be sent by the exporter.
• The IEC code is required by the banks when the money is received in foreign currency directly into the exporter’s bank account