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Friday, 5 August 2016

How to get IMPORT EXPORT CODE (IEC)


Directorate General of Foreign Trade has started operationalizing online filing of Importer Exporter Code (IEC) applications, online processing and issue of e-IECs in digital format. Now new entrepreneurs/exporters/importers can apply online for issue of new IEC from the comfort of their home/IT Kiosk with no more visits to the Regional Authority's office required, and upload the documents and pay the required fee through Net banking.

Even the processing of such applications by Regional Authority of Directorate General of Foreign Trade (DGFT) would be done online (no paper work in the office; less storage space required and no misplaced documents) and the digitally signed e-IEC (no more IECs in physical form) would be issued/emailed to the applicants within two working days.
In case the application is incomplete or otherwise ineligible, the same shall be rejected and an auto generated Rejection letter/email (with reasons for rejection) would be sent to the applicant - within two working days only. There would not be any 'Deficiencies letters' now (no more discretion at the level of RAs and consequent elimination of possible delays and corruption).

Efforts are underway to allow/enable payment of fee through Debit/Credit cards, which would further facilitate this process. Once implemented the Online system would be made mandatory. However, till such time payment through Debit/Credit cards is enabled, the existing offline/manual system has also been allowed side by side, in order to facilitate those applicants who do not have Net banking facility.

Efforts are also underway for message exchange/integration of our system with Income Tax department and Ministry of Corporate Affair for verification of PAN and DIN/CIN details respectively. Once implemented, this would further reduce the processing time of e-IEC applications at RA level (possibly one day only).
This is an important and path breaking initiative by Department of Commerce/DGFT towards "Digital India" vision of Prime Minister of India and "Ease of Doing Business".


What is Import Export Code (IEC) and How to obtain IEC number?
I have explained briefly about Import Export Code (IEC) number under my article  - How to set up an export import firm in India.  However, some of the readers need more clarifications about IE code and here; I have included their doubts about IEC number.  Read below about Import Export Code number in detail.

What is IMPORTER EXPORTER CODE number used in Export Import business?
IEC Stands for IMPORTER EXPORTER CODE which contains 10 digit number issued by Director General of Foreign Trade, Department of Commerce, Government of India.

Who requires an Importer Exporter Code?
Any bona fide person/ company starting a venture for International trade of Export and Import.  If any foreign transfers on account of business, IEC number is mandatory.

Can Export /Import be made without IEC?
No. IEC forms a primary document for recognition by Govt. of India as Exporter / Importer.  However, if value of goods is very law, the concerned customs officer may permit first export (only one time)   by imposing penal charges.

What are the benefits of IE code ?
IE Code number is the primary proof of a firm as an Exporter/Importer in India.  Import Export Code number can be submitted with government authorities as a proof of exporter/importer to obtain various benefits on their exports / imports from Directorate General of Foreign Trade (DGFT), customs, Export Promotion Council etc.

Where to obtain an Import Export Code ?
IEC number is issued by Directory General of Foreign Trade at each regional offices where the exporter/importer situates.

How to apply for an Importer Exporter Code?
The necessary application for IEC number can be downloaded from Directorate General of Foreign Trade (DGFT) website and follow procedures.
Can I   apply Import Export Code application by online?
Yes, the application can be filed   for issue of new Importer Exporter code.

Do I need to fill Import & Export Form after submission of online data ?
No, after filing application online, take a print out and attach the necessary documents submit. There are no additional requirements for filling form.

What are the documents needed for an IEC application ?
Document are listed below (Please reconfirm with the authorities, as these information can be changed amended time to time)
1.      Bank Receipt / Demand Draft details evidencing payment of application fee of Rs. 1000/-. DD should be in favour  of Zonal JDGFT, New Delhi.
2.      Certificate from the Banker of the applicant firm in the format given in Appendix 18 A (Part B).
3.      Self-certified copy of Permanent Account Number (PAN) issued by Income Tax Authorities.
4.      Two copies of passport size photographs of the applicant. Photograph on the bankers certificate should be attested by the banker of applicant.
5.      Self-addressed envelope duly stamped for Rs.25/-  (Amount may differ time to time; you may get exact amount from issuing authority)
6.      These documents may be kept securely in a file cover. 

Can Bank Certificate be from any of my current accounts in the same name of firm to apply for Import Export Code number?
No, such bank certificate should be the bank through which you are going to transact your export import procedures and formalities with foreign buyers.
Why is addressed and stamped envelope required along with application for Import Export Code number?
The letter containing the IEC number is sent to the applicant in such envelope. 

Should I need to attest PAN number from any gazette officers/notary while applying for IEC number?
No, you can self-attest the copy of PAN, when applying for Import Export code number.

What is the fee for fresh iec Application?
Application fee is Rs. 1000/- which can be paid through Demand Draft / Pay Order  to apply for Import Export Code.(Amount may differ time to time; you may get exact amount from issuing authority)

What is fee for Modification in Importer Exporter Code?
No fee is chargeable for modification in Importer Exporter Code, if informed within 90 days of such changes. After 90 days, a fee of Rs.1000/- charged. 
  
What is the fee for issuance of duplicate iec?
Rs.200/- payable in for D.D./TR. (Amount may differ time to time; you may get exact amount from issuing authority)

Is PAN Number / PAN card is essential in Import Export Code? What are the alternatives?
Yes, PAN is mandatory. Photocopy of PAN card has to be submitted along with the application of Import Export Code. If PAN card is not issued to the applicant then a copy of PAN allotment letter from I.T. Department will also be accepted.
 
Do I have to show PAN Card for verification in IEC?
No. Only one Import Export Code would be issued against a single PAN number. Any proprietor can have only one IEC number and in case there are more than one Import Export CodeS allotted to a proprietor, the same may be surrendered to the Regional Office for cancellation.

What is the duration of to get an Import Export Code after filing application for Import Export Code number?
Normally IEC number is issued within a couple of days, if all documents are in order.  However, you can expect IEC number by post within 10 days by mail.

Can Import Export Code be hand delivered / over the counter?
No, IEC’s issued are dispatched through Speed Post.

Why Import Export Code number is sent by mail?
As per the authorities, this is one of the procedures for address verification of  Exporter/Importer.

Is there any Tatkal Scheme in iec number?
No. As explained above, the authorities issues Import Export Code number within hours of receipt of proper applications.

How many days are required to send the data to Customs?
The data is automatically transmitted electronically on the day of issue of Import Export Code.

Should I need to register iec number once again with concerned customs department to do exports and importer?
No. However, you may cross check  and confirm about such electronic transition from Directorate General of Foreign Trade (DGFT) to CUSTOMS about the details of your  Import export code number.

Does Custom department use Import Export Code?
Yes, IEC number need to be reflected in all customs

Can I know the status of Import Export Code application through the website?
Yes, click on option “Status of IEC application”.

Can Import Export Code data be modified after submission of application through the website?
No, only before submission data can be modified.

NRI – How an applicant (NRI) can apply Import Export Code?
NRI has to follow the normal application procedure. In addition permission from RBI/FIPB is needed in some cases.

Documents requited to be submitted  for a foreign national for obtaining Import Export Code (documents needed)?
Board Resolution, Memorandum of Association, copy of Passport are required.

Do Foreigners require residence in India  to obtain IEC number?
Not necessary.

Can I surrender IEC number if I do not wish to operate as Exporter Importer?
Yes, you can surrender such Import Export Code number to the concerned authorities.  The issuing authority shall cancel such IEC and transmit electronically to Directorate General of Foreign Trade (DGFT) and customs authorities.

In case the IEC is received undelivered, what are the documents required for proving the genuineness of the firm?
Information to Post Office, copy of Telephone Bill, Electricity Bill, copy of Rent Deed etc. (any one) is required to confirm about the genuineness of the address.
 
Why PAN  Card’s (both side) is required?
To identify issuing authority’s address.
Does one need authority letter at the time of submission of application of Import Export Code?
No.


What are the  documents required for issue of Duplicate Import Export Code?
Dully filled application form along with application fee of Rs.200/-, a copy of FIR and an affidavit on stamp paper of Rs.10/- duly notarized.

Can a we apply online for issue of duplicate Import Export Code?
No.
Can a Public Limited Co. / Private Limited Co./ Partnership obtain different IECs for different concerns owned by it ?
No. However, the name of each concern owned by such a company may be included in the Import Export Code of the firm in whose name PAN exists, as a branch.

Whether Import Export Code has to be re validated after a period of time?
No, Import Export Code need not be re-validated  if the PAN is incorporated in it, but the same needs to be updated for changes in name / address / constitution.

What is to be done after obtaining the amended / online/new Import Export Code?
The Exporter / Importer should check the “BUSINESS IDENTIFICATION NUMBER” on Import Export Code STATUS AT CUSTOMS (BIN) for new Import Export Code holders /IECs updated with PAN and on VIEW YOUR Import Export Code in case of modified IECs. The above status should also be confirmed from the EDI system of the concerned Customs authority before effecting any Import or Export.
 
I need to import goods for personal purpose, not related to trade, agriculture or manufacture. 
Should I need to obtain IEC number?
No, import of personal purpose not related to trade, agriculture or manufacture is exempted to obtain Import Export Code number. I would like to import goods from Nepal with a CIF value of single transaction about INR 20000.00.

Should I need an iec number?
No, Import from Nepal with CIF value of single transaction below INR 25000  is exempted from obtaining IEC  number. (Please reconfirm the value, which may be amended time to time by government)
I need to export goods for personal purpose, not related to trade, agriculture or manufacture.  

Is the requirement of Import Export Code item based?
No, Import Export Code is permanent document issued to the Importer /Exporter only once and the same is not item based. The Exporter / Importer can venture into any item of Import / Export based on the Import Export Code issued.

Is any Importer / Exporter exempted from obtaining Import Export Code No.?
Yes, the categories of importers or exporters shown at Para 2.8 of Hand Book of Procedures Vol.1 (2002-2007) are exempted from obtaining Import Export Code No
.
What should an exporter do if he does not wish to operate the allotted Import Export Code Number?
He may surrender the original Import Export Code by informing this office and on receipt of such intimation; this office shall immediately cancel the same and electronically transmit.

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2 comments:
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  1. Nice information thanks for sharing. ISLF providing for import and export through air or ocean or land transportation for Logistics and shipping servics. Know more information visit below links.
    Shipping Services in India
    iec code online application
    import export license
    merchandise exports from india scheme
    Customs clearance agents
    How to export from India

    ReplyDelete
  2. Useful information..
    For Import Export Code(IEC) Registration, visit: http://www.aanoorglobal.com/ie-code-registration

    ReplyDelete

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