Updated on April 28, 2023 02:54:31 PM
Chennai Port is the second largest container port in India, which makes it a prime location for starting an import export business. The first step of an international trade business is obtaining an Import-Export code.
Running an import-export business without an IEC code is illegal and you will face a lot of hurdles while clearing your goods from the ports and also, while making transactions in foreign currency.
In this article, you will learn everything about IEC code registration , documents required and the entire process of obtaining an IEC code in Chennai.
IEC Certificate [Sample]
IEC code is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to ease the foreign trade in India.
Following documents are required for IEC code registration in Chennai :
While an IEC code allows you to operate import-export business in Chennai, It comes with some additional benefits. Let’s take a look at how obtaining an IEC code will help your import export business :
The IEC code facilitates your overseas trade and legalizes your import and export business. It makes your trade across borders easy and legal.
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.
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You can register for the Importer Exporter code offline as well as online. The online registration process is effortless, and you don’t need to go anywhere. The process is carried out in 5 steps :
The Directorate General of Foreign Trade(DGFT) is an online government portal where you can register for an import-export license. Your first step is to register on this portal.
The second step is the application phase, where all your documents are arranged and prepared for application. Refer to the documents required for better understanding.
An importer/exporter is required to file an online application in ANF 2A(i) and submit the required documents for verification. You also need to pay the government fees to complete the application process.
Once your application is submitted, it is sent to DGFT for verification. In case there is wrong or incomplete information, Your license will be canceled. So, make sure you provide the correct information.
Your IEC code will be issued after the approval by DGFT. In the case of the online application, you will get an e-IEC. Once approved by the competent authority, you will be notified through email or SMS that your e-EIC is available on the DGFT website.
Import Export License registration fees include the government fees and professional fees. It also includes the ANF 2A form and filling at DGFT. The fees break up are as follows
|IEC Registration cost(₹) in Chennai :|
|Aayaat Niryaat Form 2A||NIL|
|Filing at DGFT||NIL|
|Total – ₹1,499 only|
The Validity of an IEC code is 1 year. Unlike other government licenses, The Import Export Code was valid for a lifetime. However, after the amendments in Foreign Trade Policy on 12th February 2021, the import-export code has now to be renewed every year.
This amendment made the renewal of Import Export Code details mandatory for every IEC and e-EIC holder. Even if there are no updates in IEC, the same has to be confirmed online on the DGFT portal. Failing to do so may result in the deactivation of your Import Export code.
The complications in understanding the process and providing appropriate documents are very much hectic. There is a high chance of rejection of the application at each step of document uploading. There are different standards of Digital Signature certificates (DSC) that must be uploaded.
We at Professional Utilities understand completely. That’s why we come forward to help you avoid the hassle and get your Import Export Code registered at the minimum price guaranteed. So that you can concentrate on running your business and leave the legal formalities to us.
You can apply for IEC registration in just three simple steps with us.
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You can update the Import Export Code by following these steps :
You can get Import Export Code by following these steps :
Documents required for Import Export Code registration in Chennai are as follows :
To become a registered exporter, you need to get an IEC registration. Once you obtain the I importer Exporter code, you are allowed to export goods from India. The code is also valid for importing goods in India.