Skip to main content

What is the Import Export Code (IEC)?

Image
By
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.

There are certain processes and conditions that you need to fulfill in order to obtain the Import Export Code. You also need to adhere to certain regulations. Once you fulfill the conditions, you can get the IEC code from the DGFT offices. It has several regional offices throughout the country.
You can get it from the nearest zonal or regional office. Here we compile a detailed overview about the information in brief.
How to obtain IEC code
In order to apply and get the Import Export Code in India, there are certain processes to follow. Every applicant must follow these steps.
  • You need to get the application form for IEC. It is available online from DGFT website.
  • You can make the application in form no. ANF 2A.
  • You need to furnish documents, such as bank account, and PAN to apply for an IEC.
  • You need to fill up sections A, B, and D of the form and submit for getting the new code.
  • You need to sign each page of the application form.
  • You need to provide your passport size photo along with the documents and form.
  • You have to send an IEC license fee of Rs.250/- (Rupees two hundred fifty only), along with your applications. The money has to be sent through EFT (electronic fund transfer) directly to DGFT.
  • In case of offline submission, you have to pay through a demand draft for Rs.250/-(Rupees two hundred fifty only) to the Regional Office of DGFT.
  • You also have to provide a self-addressed envelope with Rs.30/- (Rupees thirty only) along with the filled in application form and other requisite documents.

Process involved in IEC code procurement
In case you need assistance while filling up the application of the IEC form, you can get in touch with the PRO of the regional or zonal office. You can also fill and submit the IEC forms online.
Typically the process for IEC application involves the following steps:
  • Submission – You can submit the application online, in person to the nearest zonal or regional offices, or through courier or mail.
  • Issue and dispatch – Once the submission is successful, IEC allotment letters will be sent through post to the applicant’s address. The IEC allotment letter with a 10-digit code will be sent through the self-address envelope.

After you get the IEC code, you can engage in exporting and importing businesses.

Labels:

Comments

Post a Comment

Popular posts from this blog

Team Work - Meaning and Tips for better Team Work

By
A single brain is not always capable of making key decisions on its own. To come up with an efficient solution, an individual requires the help and advice of others. A team is established when individuals get together on a common platform with the common goal of completing a task. To guarantee optimum compatibility, team members should ideally come from similar backgrounds and have a single aim. To provide their best, the team members must complement each other and function as a single unit in tight cooperation. "There is no I in Team Work," as the saying goes, and each member must put the needs of his team first. Personal interests must take a second seat. Any team's performance is directly proportionate to the relationship between its members and their combined efforts. What is the definition of teamwork? Teamwork is defined as the sum of each team member's efforts toward the fulfilment of the team's goal. In other words, any team's backbone is its ability t
Post a Comment
Read more

Scientists discover a new theory / The fundamental property of light – 150 years after Maxwell

By
Light plays a vital role in our everyday lives and technologies based on light are all around us. So we might expect that our understanding of light is pretty settled. But scientists have just uncovered a new fundamental property of light that gives new insight into the 150-year-old classical theory of electromagnetism and which could lead to applications manipulating light at the nanoscale. It is unusual for a pure-theory physics paper to make it into the journal Science. So when one does, it’s worth a closer look. In the new study, researchers bring together one of physics' most venerable set of equations – those of James Clerk’s Maxwell’s famous theory of light – with one of the hot topics in modern solid-state physics: the quantum spin Hall effect and topological insulators . To understand what the fuss is about, let’s first consider the behaviour of electrons in the quantum spin Hall effect. Electrons possess an intrinsic spin as if they were tiny spinning-tops,
Post a Comment
Read more

19 Types Of Content Writing Services For Your Business

By
  It’s hard to know which type of content writing service is the best for your business.  There are so many  different types of content writing services  out there that it’s easy to get confused. You end up wondering if you’re choosing the right one for you. In this post, we’ll get rid of this confusion, once and for all. I’m going to list out the different kinds of writing services you could use.  By the end of this article, you’ll know whether you need a copywriter, a content writer, or a social media marketer and how they can help you achieve your business goals. This post is also useful for writers who want to hone their writing skills in a specific area. Let’s dive in and learn what types of content writing services exist and when you should use them. (Bonus – if you want to  hire the top 1%  of writers, go to the bottom to learn how). Types of Content Writing Services As we go through the list of content writing services, you will find that many of them overlap. That’s perfectly
Post a Comment
Read more