IMPORT EXPORT CODE

IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can?t take benefit of exports from DGFT, customs, Export Promotion Council, if they don?t have this code.

The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad. IMPORT AND EXPORT CODE Registration can be done through GST Return World(IEC CODE AGENT) in Delhi NCR, Mumbai, Bengaluru, Chennai & all other Indian cities.

What is Import Export Code?

IEC(Import Export Code) is known by many names such as importer-exporter code, import export code, import-export license, import-export number, IE code, IEC license, IE license etc. In simple terms, IE CODE NO. is a 10 digit code which is provided by DGFT required for import-export transactions. You can take IE code in your personal name or company name.

An IEC number issued to an applicant shall be valid for all its divisions/ units/ factories/ branches. IEC is valid for lifetime and there is no need to renew the same.

Reasons to Register an IE Code

– Proprietors can have IE Code

Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.

– Importers Require IE Code

All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad.

– Lifetime – NO Renewal

IE Code is issued for the lifetime of the entity and requires no renewal. So once an IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.

– Exporters Require IE Code

All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.

– No Return Filing

IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain the validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.