Updated on April 28, 2023 06:19:22 PM
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]
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.
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.
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.
Following documents are required for IEC registration in Jammu and Kashmir:
There are various instances where you must have an updated IEC code. These are as follows.
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The step-by-step procedure of online IEC registration in Jammu and Kashmir are as follows:
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.
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 correct information.
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.
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|
|Total – ₹1,499 only|
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.
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 :
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It takes 5 to 15 working days for the complete procedure of obtaining an IEC code at professional Utilities.
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.
Yes, Any individual proprietor in Jammu and Kashmir who is willing to start international trade is eligible for obtaining the Import/Export Code.
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.