Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and doesn't require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 - 20 working days or less. All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports. IEC code holder does not require filing of any returns. IEC Code is issued for lifetime and requires no renewal. Even individuals who are proprietors can obtain the code in their name. It is not necessary to setup a business for the same.
Any person who intends to import or export goods and services from or to India must obtain Import export Code.
No, tax is not levied on Import Export Code. However, custom duty maybe levied. Custom duty depends to the category of the products imported or exported. This can be found at the custom departments’ website.
After submitting all the requisite documents IEC is typically allotted by DGFT in 5-10 days. It is not necessary to show proof of any import or export to obtain IE Code. Now a days, as IEC can we partially applied online with the help of digital signature, IEC can be obtained in less than a week.
If you have taken IEC Certificate in new process e-IEC online, then you can download your certificate any time by login into the IEC portal with your username details. But if you had taken your IEC in physical process, you have to re-apply for e-IEC with all the documents and DGFT will provide you certificate in new online format.
If you or a company wants to modify any details in IEC license, then you can do it online in your IEC application. IEC modification required resubmitting the application with the DGFT once again with all the required documents. Also, IEC modification fee needs to be submitted with the department.
IEC is only a license permitting the import and export of goods. Therefore, no return is required to be filed under IEC code.
You will not need an IEC code under the following cases:
Person exporting or importing goods for personal use and not for activities related to business.
Persons exporting or importing goods to/from Nepal or Myanmar through Indo-Myanmar border areas, a value of which does not exceed Rs.25,000/- in a single assignment.
Ministries or departments of central government do not require obtaining IEC
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