M2 Associates

IMPORT EXPORT CODE

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A separate set of skilled lawyers and professionals assists our clients in a seamless and coordinated manner, and has a track record of success in Customs and Excise appeals. We provide guidance and advice on a variety of customs and excise concerns, as well as assisting our clients in complying with regulatory norms and frequently changing recommendations issued by Customs and Excise authorities.

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What is Import Export Code (IEC)?

Import Export Code (also known as IEC) is a 10-digit identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also known as Importer Exporter Code. It is mandatory for companies and businesses to obtain this code to start a business that deals with import and export in the Indian Territory. It is not possible to deal with export or import business without this code.

What is Section 8 Company Registration?

  • When importers have to clear their shipments from customs, the customs authorities will ask the importers for an Import Export Code.
  • When importers send funds overseas via banks, the bank will ask the importer for an Import Export Code.
  • When exporters have to send their shipments, the customs port will ask the exporter for an Import Export Code.
  • When exporters are paid in foreign currency and the money is transferred directly into the exporter’s bank account, the bank will ask the exporter for an Import Export Code.

The registration of Public Limited Company takes a minimum of 3-10 days.

Who can apply for Import Export Code? (What is the eligibility criteria to apply for Import Export Code?

The entire functioning of import and export in India is governed by the provisions of the Foreign Trade (Regulation) Rules, 1993. Therefore, IEC is also regulated by the same statute. In case the import/export is of services or technology, IEC is required in only limited circumstances, when import/export is in ‘specified services’ or ‘specified technologies’, i.e. services or technologies in which international trade is restricted by the Government of India as they pertain to national security, such as dealing in nuclear weapons, automatic guns, etc. IEC is not required under the following circumstances:

  • Import/export of goods for personal use, which is not connected with trade, manufacture or agriculture.
  • Import/export by government ministries and departments, and certain notified charitable organizations.

Time Required for Import Export Code

The registration of Public Limited Company takes a minimum of 3-10 days.

Process of Import Export Code

 

Documents Required for Import Export Code

  • Current account details
  • PAN card
  • Bankers Certificate
  • Two copies of passport size photographs
  • A self-addressed envelope for delivery of IEC certificate by registered post

BASIC

3495

  • Filing of Application
  • Govt Fee
  • GST Registration
  • LUT Registration
  • Trademark Application

STANDARD

6495

  • Filing of Application
  • Govt Fee
  • GST Registration
  • LUT Registration
  • Trademark Application

PREMIUM

19995

  • Filing of Application
  • Govt Fee
  • GST Registration
  • LUT Registration
  • Trademark Application