Importer Exporter CodeIEC Code Registration in Jammu and Kashmir

Updated on March 08, 2024 07:43:31 AM

Import Export Code or IEC in Jammu and Kashmir is a unique 10 digit code which is mandatory for any type of commercial import or export business. You cannot proceed with any foreign trade activities without IEC code registration.IEC is issued by the Directorate General of Foreign Trade (DGFT) to facilitate the foreign trade in India

Any importer/Exporter who fails to show the IEC code, Their goods will not be allowed to pass the ports and also result in incurring demurrage charges. In the worst case their goods will be destroyed.

However, If an individual is importing or exporting goods for personal use and not involved in any commercial trade are exempted from having an Import Export code as per the foreign trade policy.

Read on to learn more about the benefits, fees and how to get Import Export Code in Jammu and Kashmir.

IEC Certificate [Sample]

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Benefits of IEC Registration in Jammu and Kashmir

IEC code allows you to operate import export business in Jammu and Kashmir. In addition, it offers several other advantages. Let's look at how getting an IEC code will benefit your Jammu and Kashmir Import/Export firm.

1. 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 in the online international marketplace like Alibaba and Amazon.

2. Legalize foreign trade

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

3. Other Import/export benefits

  • An exporter in Jammu and Kashmir 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.
  • You can avail benefits under schemes like SEIS or MEIS.

4. Easy Registration process

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

5. 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.

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Documents required for Import Export Code

Following documents are required for IEC registration in Jammu and Kashmir:

  1. PAN card copy of the applicant entity.
  2. Address proof of the company( Electricity Bill)
  3. Lease/Rental Agreement if the office is rented.
  4. Canceled Cheque copy of current bank account.
  5. Sale deed if the company is self owned.
  6. Digital Photograph(3*3)
Documents Required For IEC code
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Situations where you need an Import Export Code in Jammu and Kashmir?

There are various instances where you must have an updated IEC code. These are as follows.

  • When an importer in Jammu and Kashmir 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 in Jammu and Kashmir.
  • 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.

Starting your own Import-Export Business?

Register your import and export business with Professional Utilities to get your IEC Certificate . You get the free consultations and quick service at lowest Price with us.

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How to apply for Import Export code in Jammu and Kashmir

The step-by-step procedure of online IEC registration in Jammu and Kashmir are as follows:

Procedure for obtaining Import Export Licence

1. Register on DGFT portal

Directorate General of foreign Trade(DGFT) is an online government portal where you can register for the import export license in Jammu and Kashmir. Your first step is to register on this portal.

2. Documentation

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.

3. Application for Import Export Code

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.

4. Verification by DGFT

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 correct information.

5. Approval and Issuance of IEC code

Your IEC code will be issued after the approval by DGFT. In case of online application you will get e-IEC. Once approved by competent authority, you will be notified through email or SMS that your e-EIC is available on the DGFT website.

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IEC Registration Fee for Jammu and Kashmir

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 Fees
Aayaat Niryaat Form 2A NIL
Filing at DGFT NIL
Government Fees ₹500
Professional Fees ₹999
Total – ₹1,499 only

Note: The aforementioned Fees is exclusive of GST.

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IEC Validity and Renewal

The validity of an Importer Exporter Code is now 1 year as per the new amendments of Foreign trade policy. Earlier, The IEC code was valid for the lifetime but now you need to renewal IEC details every year to avoid the deactivation of your Import export code.

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Who can apply for an IEC code in Jammu And Kashmir?

Any Proprietorship firm, LLP, Company, Trust, HUF or Individual engaged in any of the following foreign trade activities is eligible for obtaining an IEC Code :

  1. Commercial Import and Export of goods across borders
  2. Availing benefits under Foreign Trade Policy.
  3. Shipment Clearance
  4. Custom Clearance
  5. Monetary Transaction in foreign currency
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Frequently Asked Questions

How many days will it take to get the IEC code in Jammu and Kashmir ?

It takes 5 to 15 working days for the complete procedure of obtaining an IEC code at professional Utilities.

Can I use my PAN as IEC?

The IEC issued by DGFT is the same as the PAN of the firm. However, Import export Code will still be issued by DGFT based on the application.

Can an individual get an IEC code?

Yes, Any individual proprietor in Jammu and Kashmir who is willing to start international trade is eligible for obtaining the Import/Export Code.

How do I become a registered exporter in Jammu and Kashmir?

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.

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