The Importer Exporter Code (IEC) or import export code number is an essential requirement (unless specifically exempted from) for making import to India, or exporting something from India, or making financial transactions with any foreign person/company, at any point of time, by a person/company located anywhere in India. Every country has a unique importer exporter code, to distinguish its importers, exporters, or persons making financial transactions with foreign people/entities, from those of all other countries of the world. Now in India, IEC is also necessary for individuals (professionals, freelancers, traders, etc.) who are concerned with making commercial dealings and financial transactions with foreign people and companies through PayPal or other means at any point of time. Earlier, only importers and exporters were essentially required to have their respective IEC.
The unique 10-digit importer exporter code of India is primarily responsible also for distinguishing all relevant exporters, importers, and individuals who are engaged in various economic sectors, and are located in places all across India. Again, this import export number code is granted to the relevant person or company for the whole lifetime. For clearance through customs in connection with import or export, specification of the IEC is mandatory. Again, people importing or exporting services have to mention their respective IEC in bank account related with foreign remittances. The DGFT, Customs, Export Promotion Council, etc., also offer some exclusive benefits to the importers and exported of India, related with their respective imports to India and exports from India.
Documents Required For Import-Export CodeThe documents required for import-export code are the following in general:
- Two copies of the well filled-in up IEC Application Form
- Name, Address, and relevant details of the applicant company/firm
- A copy of the Sales Deed/Rental/ Lease Agreement, whichever applicable
- Certified copies of the MOA and AOA of the applicant company
- Bank Account details
- Certified copy of the PAN Card associated with the company/firm
- Two passport-sized photographs of the managing director of the applicant company/firm
- Banker's Certificate
- A written request in the letter head regarding issuance of the IEC, along with a Board Resolution in this favor
- A Demand Draft worth INR-1000/- drawn in favor of the concerned zonal authority of DGFT
- A self-addressed envelope bearing the postal stamp of the prescribed value, or a bank draft worth the prescribed amount, for delivery of the requested IEC certificate.
- In case of a non-Indian company located anywhere in India, a copy of the Form-FC-GPR is also required.
How to get IMPORT EXPORT CODE (IEC) NUMBER
This section offers detailed and exclusive information about how to get IMPORT EXPORT CODE (IEC) NUMBER by a company located anywhere in India. The application form for issue of the importer-exporter code, which is also called as the Aayaat Niryaat Form-ANF2A, can readily be obtained from the nearest zonal office of the DGFT, or may promptly be downloaded from the website of the DGFT (Director General of Foreign Trade): www.dgft.gov.in/-. The importer-exporter code is granted by the DGFT, which functions under the Ministry of Commerce and Industry, the Government of India. After filling in the prescribed form, the same is to be sent/submitted to the region authority of the DGFT, along with the demanded documents and enclosures mentioned above.
After filing the application with the said office, the applicant will receive a File Number, which will be very useful for tracking the current status of the application on the website. In general, one can expect to get the IEC at the given address within one to two weeks.