Import Export Code Registration
The Import and Export Code (IE Code) is a unique 10-digit identifier granted by the Directorate General of Foreign Trade (DGFT) to businesses facilitating imports and exports within India. This code empowers businesses to expand their footprint in the international marketplace. Before initiating any import transactions, traders must ensure their importing entity possesses both the IE code and GST registration to navigate customs seamlessly. Failure to have both the IE code and GST Registration can result in goods being detained at ports, leading to accumulating demurrage fees or potential destruction of the goods. Once obtained, the IE Code remains valid for the business entity's duration, eliminating the need for periodic renewals.
Unlocking International Markets:
- IE Code is pivotal for businesses involved in import and export, facilitating smoother international market access. This code propels Indian enterprises towards global growth and expansion opportunities.
Streamlined Online Registration:
- Acquiring the IE Code is a seamless online process, requiring minimal document submission, ensuring ease for applicants.
Minimal Document Requirements:
- For obtaining the IE Code in India, only a handful of essential documents are mandated:
- 1) Applicant's PAN
- 2) Cancelled Cheque
- 3) Passport-sized photograph of the applicant
- 4) Applicant's address proof
Perpetual Validity:
- The IE Code boasts lifelong validity, aligning with the business's duration. This ensures no hassles related to renewals or updates, provided the business remains operational and the registration remains intact.
Curbing Illegal Goods Movement:
- Authentic information provision is paramount for obtaining the Import-Export code, deterring any illegal goods transportation due to stringent verification.
Advantages of the Scheme:
- IE Code extends substantial benefits to importers and exporters. Registered businesses can leverage advantages like subsidies from Customs, Export Promotion Council, and more. With GST's LUT filing, exporters can execute tax-free exports or seek refunds for any taxes paid.
Simplified Compliance:
- Distinctively, businesses involved in import or export aren't burdened with specific compliance obligations such as annual filings or return submissions.
- Digital Photograph (3x3cms) of the Proprietor.
- Copy of PAN card of the Proprietor.
- Copy of Passport (first & last page)/Voter’s I-Card/ Driving Licence/UID (Aadhar card) (any one of these).
- Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
- Bank Certificate as per ANF 2A(I)/ Cancelled Cheque bearing preprinted name of applicant and A/C No.
- Digital Photograph (3x3cms) of the signatory applicant/Secretary or Chief Executive.
- Copy of PAN card of the applicant entity.
- Copy of Passport (first & last page)/Voter’s I-Card /UID (Aadhar Card) /Driving Licence/ PAN (any one of these) of the Secretary or Chief Executive/ Managing Trustee signing the application.
- Sale deed in case business premise is self-owned; or Rental/Lease Agreement, in case office is rented/ leased; or latest electricity /telephone bill.
- Registration Certificate of the Society / Copy of the Trust Deed
- Bank Certificate as per ANF 2A(I)/Cancelled Cheque bearing preprinted name of the Registered Society or Trust and A/C No.
