Import Export Code (IEC) Registration in Visakhapatnam
Import Export Code is a unique ten-digit code required to operate an import-export business in India. Without IEC code registration, you cannot import or export goods in Visakhapatnam. IEC is issued by the Directorate General of Foreign Trade (DGFT) to ease the Foreign trade in India.
Any importer/Exporter in Visakhapatnam/Vizag who fails to show the IEC code, Their goods will not be allowed to pass the ports and will also result in incurring demurrage charges. In the worst case, their goods will be destroyed.
In this article, you will learn everything about IEC code registration, the documents required and the entire process of obtaining an IEC code in Visakhapatnam.
IEC Certificate [Sample]
How to Apply for IEC Code Registration in Visakhapatnam
The step-by-step procedure for online IEC registration in Visakhapatnam is as follows:
- Register on the DGFT portal: The Directorate General of Foreign Trade (DGFT) is the official portal for IEC registration. Start by creating an account and registering online.
- Documentation: Collect and prepare all required documents for the IEC application. Ensure accuracy to avoid delays.
- Application Submission: File the online application in ANF 2A(i), upload all documents, and pay the government fee to submit your application.
- Verification by DGFT: DGFT reviews the submitted details. Any incomplete or incorrect information may lead to rejection.
- Approval and Issuance of IEC Code: Upon approval, the IEC is issued digitally (e-IEC). Notifications are sent via email or SMS when available on the DGFT portal.
Documents Required for IEC Code Registration in Visakhapatnam
Following documents are required for IEC registration in Visakhapatnam:
- PAN Card of the Business Entity
- Address Proof (Electricity Bill, Rent Agreement, or Lease Deed)
- Business Registration Certificate (Company Registration, Partnership Deed, LLP Agreement, or relevant certification)
- Bank Account Details (Cancelled Cheque or Banker’s Certificate)
- Identity Proof of Authorized Person (Aadhaar Card, Voter ID, Passport, or Driving License)
- Passport Size Photograph of the Authorized Person
Import Export Code Registration Fees in Visakhapatnam
IEC registration fees in Visakhapatnam cover basic government charges and service costs for a smooth application process.
| IEC Registration in Visakhapatnam | Fees |
|---|---|
| Government Fees | ₹500 |
| Professional Fees | ₹999 |
| Total | ₹1,499 only |
Note: The aforementioned Fees is exclusive of GST.
What is IEC Registration in Visakhapatnam?
IEC Registration in Visakhapatnam is the process of obtaining a 10-digit Import Export code (IEC) issued by the Directorate General of Foreign Trade (DGFT). This code is mandatory for any individual or business in Visakhapatnam involved in the import or export of goods and services across international borders.
The IEC acts as a legal identity for international trade and is required for customs clearance, foreign remittances, and availing benefits under export promotion schemes such as RoDTEP and SEIS. It is linked with the applicant’s PAN and can be applied for completely online through the DGFT portal.
Businesses operating in and around Visakhapatnam must obtain a valid IEC to legally conduct import-export activities. Although IEC was earlier issued with lifetime validity, it now requires annual updation as per the latest DGFT compliance norms.
Benefits of IEC Code Registration in Visakhapatnam
IEC Code Registration allows businesses in Visakhapatnam to legally carry out import and export activities. Along with compliance, it offers several practical benefits for traders and exporters.
- Overseas Trading: The Import Export Code enables businesses in Visakhapatnam to expand into international markets. IEC is mandatory for global trade and supports long-term business growth abroad.
- Legalise Business Overseas: IEC provides legal authorization to export goods and services and import business essentials, ensuring smooth and lawful cross-border transactions.
- Online Service: IEC registration can be completed fully online from Visakhapatnam. With correct documents, the code is issued digitally without visiting any government office.
- Export/Import Subsidies: IEC holders can avail government benefits such as export incentives, duty drawbacks, and tax exemptions as per the Foreign Trade Policy.
- Necessity at Customs: IEC must be mentioned on customs documents like the Bill of Lading. All import and export consignments through Indian ports require a valid IEC.
- Facilitates Electronic Fund Transfer (EFT): IEC allows exporters to make online payments to government authorities through Electronic Fund Transfer, making the process faster and paperless.
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Import Export Code Validity and Renewal in Visakhapatnam
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.
Situations Where you Need an IEC Code in Visakhapatnam
- 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.
IEC Registration in Visakhapatnam with Professional Utilities
Applying for IEC Code Registration in Visakhapatnam requires a clear understanding of the procedure and accurate submission of documents through the online portal. Errors during document upload or incorrect Digital Signature Certificate (DSC) selection may lead to delays or rejection.
Professional Utilities makes IEC registration in Visakhapatnam smooth and hassle-free. We manage the complete registration process at a competitive cost, allowing you to focus on growing your business while we handle all compliance and documentation.
Get your Import Export Code in just three simple steps with our expert support.
Step 1: Fill the Form
Connect with us via call or contact form
Step 2: Submit Documents
Share the required documents for verification
Step 3: Get Your IEC Code
Receive your IEC Code within 2 working days
Conclusion
In conclusion, the Import Export Code (IEC) is essential for businesses in Visakhapatnam involved in international trade. It enables access to global markets and ensures smooth cross-border transactions. Obtaining an IEC helps businesses efficiently manage customs procedures, expand their market reach, and take advantage of international trade opportunities. IEC registration plays a vital role in ensuring compliance, supporting business growth, and building a strong foundation in the competitive global trade environment.
FAQ’s On IEC Code Registration in Visakhapatnam
Who gives IEC code?
DGFT(Directorate General of Foreign Trade) issues and updates the Import Export code.
How much time does it take to get IEC code online?
It takes 5 to 15 days for the complete procedure of obtaining an IEC code.
How to apply for an IEC Code online?
You can apply for Import Export Code by following these steps :
- Register your company on DGFT portal.
- Fill the ANF (2A) form and submit the required documents.
- Your IE code will be issued after the approval by DGFT.
What is required for IEC code Registration?
Documents required for Import Export Code registration in Visakhapatnam are as follows :
- PAN card
- Aadhaar Card
- DSC( Digital Signature Certificate)
- Bank account in the name of IEC holder
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