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What is Import Export Code? (IEC)
An Import Export Code (ICE Code) is an essential document for businesses that are involved in international trading. It is a unique 10-digit alphanumeric code issued by the Directorate General of Foreign Trade (DGFT). The ICE code serves as an identification number for businesses that are importing and exporting goods across borders. It is mandatory for all companies who wish to engage in international trade. Having an ICE code helps businesses to avail various benefits like tax exemptions, duty concessions, and other benefits related to export-import activities. It also helps them to keep track of their shipments and transactions in a secure manner.
What Are the Benefits of Having an IEC Import and Export Code?
Having an IEC (Import Export Code) is a must for businesses that are involved in import and export activities. This code is issued by the Directorate General of Foreign Trade (DGFT) and is required to clear goods imported or exported from India. It helps businesses to streamline their operations, reduce paperwork, and ensure compliance with government regulations. Additionally, it also helps businesses to access various benefits such as tax exemptions, discounts on shipping costs, etc. Having an IEC Import Export Code can help businesses save time and money while ensuring compliance with government regulations.
What are The Documents Required For IEC Code
Obtaining an Import Export Code (IEC) is a mandatory requirement for any business that wants to engage in international trade. To obtain an IEC, businesses must submit several documents to the Directorate General of Foreign Trade (DGFT).
These documents include an application form,
– Firm’s or Company’s PAN Card,
– Incorporation and registration certificate,
– Aadhar card or passport.
– Rent Agreement or Electricity Bill
Additionally, businesses must also provide proof of their financial status and export-import experience. With all the required documents in hand, businesses can easily apply for an IEC code from DGFT.
IEC Code Fees or Cost
The fees associated with obtaining an IEC code vary depending upon the type of entity and its size. In general, it can cost anywhere from INR 1500-5000, depending on the size of the company and its annual turnover.
Validity and Cancellation of IEC registration
The Indian government’s registration of an Importer Exporter Code is a one-time process, with a lifetime validity. Cancellation of an IEC may take place in certain circumstances, such as the export or import of restricted items, misrepresentation of information in shipping documents, failure to comply with customs regulations, or violation of Foreign Trade Policy requirements.
Sample Certificate Import Export Code
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Why Choose EntrepreneurCell for your IEC Registration?
EntrepreneurCell is the leading and trustworthy company which provides progressive services to get (IEC) registration in very easy steps. We committed to providing the following strategies to every business owner are as follow:-
- Easy and simple to get IEC Registration
- All the returns will be filed in a proper manner
- Restrain through the whole registration procedure
- Answers for all your questions and concerns
These are some of our commitments join hands with us to know more about our services.
Frequently Asked Questions
An Import Export Code (ICE Code) is an essential document for businesses that are involved in international trading. It is a unique 10-digit alphanumeric code issued by the Directorate General of Foreign Trade (DGFT).
To import and export the goods and services, the importer and exporter are required to apply for IEC registration