Import Export Code

Import and Export Code is a 10 digit unique number issued by the Directorate General of Foreign Trade (DGFT) to a business entity for import and export in India. The Import and Export Code helps the business to grow in the global market. In order to clear customs duties, the trader must ensure that the importing entity has an IE code and GST registration before commencing the import of the goods.

If an importer does not have both an IE code and a GST registration, the goods will be stuck at the port and start paying demurrage or may get destroyed.

The IE code once issued is valid during the existence of the unit and there is no need to renew the code.

 

Importance of Import Export Code

International Market Unlocks:  Since IE codes are a requirement for import and export business, they allow products to reach the international market. IE Code facilitates entry into Indian business internationally and opens doors for growth and expansion.

Online Registration: The process to find the IE Code is completely online and hassle-free with little document submission.

Less Document Requirement:  Very few documents are required to get IE code in India. Here is the list of mandatory documents required to obtain the Import Export Code.

• PAN of the applicant
• Cancelled Cheque
• Passport size photo of the applicant
• Address proof of the applicant

Lifetime Validity:  IE Code is a lifetime registration which is valid as long as the business is in existence. Hence, there is no problem in updating, filing and renewing the Import Export Code registration. IE registration is valid till the business ceases to exist or the registration is cancelled or surrendered.

Reduces Illegal Goods Transportation: The most basic requirement for an import-export code is that you need to provide authentic information. IE code cannot be obtained without providing proper information. This criterion makes the transportation of illegal goods impossible.

Benefits of the Schemes:  IE code has huge benefits for both importers and exporters. Registered business entities will be able to get benefits in the form of subsidies from Customs, Export Promotion Council or other authorities. With LUT filing under GST, exporters can export without paying taxes. If the export is made with payment of tax, the exporter can claim a refund of the tax amount paid.

Compliance: Unlike other tax registrations, the person importing or exporting is not required to meet any specific compliance requirement such as annual filing or return filing.

 

Documents Required for IE Code Application

Procedure for obtaining Import and Export Code

• Exporters/importers shall file an online application in form ANF 2A.
• The applicant is required to submit only two documents one is the address proof and the other is the pre-printed cheque or bank certificate
• Once the online application is submitted, along with appropriate fees and requisite documents, IEC will be auto-generated.
• Intimation regarding allotment of IEC will be sent to an applicant via SMS and E-mail along with a hyperlink through which the e-IEC can be downloaded and printed.
• Regional Authority would conduct post-verification of the online IEC as per the guidelines. In case there is any wrong/incomplete information being furnished, the applicant would be liable for penal/criminal activity and in such case, IEC would be either suspended or cancelled.
• An e-IEC holder needs to update his profile immediately after the issuance of the e-IEC.
• ANF-1 of the Handbook of Procedure contains the profile of the importer/ exporter.
• Every IEC holder is responsible for updating his profile, immediately. Further, in case of any change in IEC or in any other case, the profile Updation needs to be done at least once a year.