Import Export Code(IEC) in Rajasthan - Registration, Documents and Verification

Updated on April 29, 2023 03:26:35 PM

Import Export Code in Rajasthan is a unique ten-digit alphanumeric code that is mandatory for any type of commercial import and export in India. You cannot proceed with any foreign trade activities in Rajasthan without IEC code registration.IEC is issued by the Directorate General of Foreign Trade (DGFT) to facilitate foreign trade in India.

Any importer/Exporter in Rajasthan 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 is not involved in any commercial trade are exempted from having an Import Export code as per the foreign trade policy.

IEC Certificate [Sample]

iec certificate sample rajasthan jaipur

Benefits of IEC registration in Rajasthan

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

Global 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.

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.

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 fulfill 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.

Various Situations where IE Code is required in Rajasthan?

  • 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
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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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Who can apply for an IEC code in Rajasthan?

Any Proprietorship firm, LLP, Company, Trust, LUF 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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Documents required for Import Export Code

Following documents are required for IEC registration in Rajasthan:

  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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How to apply for Importer Exporter Code Registration in Rajasthan

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 :

Procedure for obtaining Import Export Licence

1. Register on the DGFT portal

Directorate General of foreign Trade(DGFT) is an online government portal where you can register for the import export license in Rajasthan. 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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How much does it cost to get an IEC Code?

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

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Import Export Code Validity and Renewal

Unlike other government licenses, The Import Export Code was not required to be renewed and was valid for a lifetime. However, after the amendments in the Import Export code related provisions under chapter 1 and Chapter 2 of Foreign Trade Policy on 12th February 2021, the IEC 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.

iec validity and renewal
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FAQs for IEC code in Rajasthan

What is the validity of the Import-Export code?

One year. Earlier, the Import-Export code came with lifetime validity, but according to the new norms of Foreign Trade, Now It is mandatory for every IEC code holder to update their IEC every year during the April- June period.

Even if there are no changes, the same has to be confirmed online, or else your IEC code will be deactivated.

Do you need to file returns for IE Code?

No, there is no need to file a return for the IEC code. You need it while importing/Exporting goods. There are no after-registration compliances attached with IE code registration.

Is there any Tax Levied based on IE code?

IEC is not a tax registration. However, certain customs duties may be levied depending on the type of product to be imported or exported.

What are the conditions where the IEC code is not required ?

IEC code is not required in the following cases

  • Import/Export is done by Government departments.
  • Import and export is done for personal use and non-commercial purposes.
  • Import/export is done by certain notified charitable NGOs.

How long does it take to complete IEC code Registration in Rajasthan?

At professional utilities, we take 5-15 working days for the whole process.

Is there any Tax Levied based on IEC code in Rajasthan?

IEC is not a tax registration. However, certain customs duties may be levied depending on the type of product to be imported or exported.

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