“Import Export Code registration is required for businesses importing or exporting goods and services from India.”
Any business that imports and exports services and goods from the country must obtain an Import Export Code (IEC) from the government. DGFT (Director General of Foreign Trade) under the aegis of the Ministry of Commerce and Industry (MCI) issues IEC to business entities. The main advantage of registering for IEC is that it is valid for life and no renewal is required for the Code. Not only business entities, but even individuals can also apply for IEC. The logic behind IEC is to regulate some restricted areas like nuclear weapons and automatic guns from the point of view of international trade.
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Benefits of Import Export Code Registration
Business Growth – Import and Export Code Registration helps an individual or business to sell products and services in the international market thereby aiding in business growth.
Lifetime Validity – The Import and Export code is valid for a lifetime and no renewal is required for the code.
No Compliance Requirement – Import and Export Code registration does not mandate any statutory return or compliance to maintain IEC validity.
Subsidy on exports – Business entities can claim subsidies on exports from DGFT, Customs, and EPC (Export Promotion Council) based on their import and export codes.
Documents Required for Import Export Code Registration
For Individual/Proprietor/Partner/Director:
- Self-attested copy of PAN card (mandatory).
- Copy of authorization letter and NOC (in case of a partnership).
- Copy of Partnership Deed (in case of a partnership).
- Copy of the Board’s resolution (in case of a company).
- Authorization from directors (in the case of a company) on company letterhead.
- Bank Certificate / Canceled Bank Account Check (Personal).
- Passport-size photo.
Identity Proof of Individual/Director/Partner/Proprietor
- Passport.
- Aadhar card.
- Voter ID card.
- driving license.
Address proof.
- Self-attested copy of telephone/mobile or electricity bill.
- Bank Account Statement (less than 2 months old).
For Unit:
- Copy of PAN Card (for firm/company).
- Copy of MoA and AoA (for the company).
- COI (for the company)/Partnership Agreement.
- Canceled bank account check (for a firm).
- Company letterhead (for the company).
Address Proof of the Institution:
- Telephone/Mobile/Electricity/Gas Bill (less than 2 months old).
- Notarized copy of Rent Agreement along with No Objection Certificate (NOC) to carry on business in case of rented premises.
- Registered title document in case of self-owned premises.
Documents Required for Import Export Code Registration
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