IEC Code in Pune
Starting Rs. 1999
Benefits of IEC Code
Valid License
On obtaining IEC Code, you get a valid licence from the government to deal in import and export of goods and services. It also enhances value of your business.
No Compliance
There are no compliance which you need to fulfill as a consequence of getting Import Export Code. You are not even required to file annual or monthly returns.
Minimum Documentation
For obtaining IEC Code, you do not have to provide much documentation. All you need to give is basic information about your business and its owner or director.
All About IEC Code?
IEC (Import Export Code) is a 10-digit code issued by DGFT (Director General of Foreign Trade), Ministry of Commerce. If you are an importer and exporter of goods or services you are required to register with DGFT. The application is filed online and code is generated instantly. IEC is one time registration and there is no need to renew it again. The government has done away with requirement of filing of return so you don’t have to worry about compliances. Thus, even if you are planning to start import or export activities in future, you can obtain IEC now to add value to your business.
Documents required for new IEC
The department now requires only two documents which need to be uploaded at the time of application:
(a) Bank Certificate / Pre-printed Cancelled Cheque
(b) Address Proof of the firm: Sale deed, Rent agreement, Lease Deed, Electricity bill, Telephone Land line bill, Mobile Postpaid bill or Partnership Deed. For proprietorship business Aadhar Card, Passport and voter ID are also acceptable.
You will be required to provide information such as Name, PAN, DOB, Father’s Name, email address etc. of the proprietor/partner/director.
Some FAQs
Is PAN Number same as Import Export code?
According to new rules, PAN Number of the entity has been made its Import Export Code with effect from 1 July 2017. This means that your PAN Number will be your IEC Code. It also means that only one Import Export Code will be issued against one PAN. The government has also integrated PAN web service of CBDT with web server of DGFT for online verification of PAN. Thus, there is no requirement to upload copy of PAN Card and also no need to wait for verification.
How much time is required in Import Export Code?
On submission of complete application with fees and requisite documents, IEC will be auto generated instantly. Thus, you will get IEC Code as soon as you complete the formality. The whole process is online.
What is the fee for IEC Code registration?
At present, the government fee is Rs. 500 for IEC registration. The fee has to be paid online on the website of DGFT (Director General of Foreign Trade) i.e. https://dgft.gov.in/