Gallery Posts

Office Maps

Importer Exporter Code(IEC) in New Delhi - Process, Documents, and Fees

Import Export Code registration in New Delhi is required to operate import-export business. You cannot import or export goods in New Delhi without IEC code registration. IEC is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to ease the foreign trade in India.

Any importer/Exporter in New Delhi 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.


The Importer Exporter Code (IEC) is a unique 10-digit code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce, Government of India, to any person or business entity interested in importing or exporting goods and services from or to India. It is mandatory for any business or individual seeking to engage in import/export activities to obtain an IEC. This code is used by customs authorities for tracking transactions and facilitating imports and exports. It also serves as a primary document for international trade transactions and is required for obtaining various benefits under schemes like the Merchandise Exports from India Scheme (MEIS) and the Service Exports from India Scheme (SEIS).

import export Certificate [sample]

Certificate
Documents required for Import Export Codes

Following documents are required for IEC registration in New Delhi:

  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 company’s current bank accoun
  5. Sale deed if the company is self-owned.
  6. Digital Photograph(3*3)
Certificate

Situations where you need an IEC code in New Delhi

  1. When an importer has to clear his shipments from the customs, then an Import Export code is required by the customs authorities.
  2. The IEC code is required by the banks when the money is sent abroad through banks by the importer.
  3. The Import Export license is required by the customs port when the shipment has to be sent by the exporter.
  4. The IEC code is required by the banks when the money is received in foreign currency directly into the exporter’s bank account

Benefits of of obtaining an Import Export Code

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

  1. 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.

  1. International 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.
  2. 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.
  3. 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 fulfil 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.
  4. 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.


How to apply for Importer Exporter Code Registration in New Delhi

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 :

Certificate
  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 New Delhi. Your first step is to register on this portal.

  1. 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.

  1. 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.

  1. 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.

  1. 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.

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 renewal 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.

lazy