FAQs on IEC registration
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FAQs on IEC registration
Do you want to start your Import Export business? If you wish to start an Import Export business, IEC registration is a must. Without IEC code registration neither import nor export can be done. there might be many questions arising for which you would wish to seek answers. Here we have made a compilation of the Most Frequently Asked questions on IEC registration.
1. What is an IEC?
Import Export Code (in short IEC Code) is a ten digit number with permanent validity granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export. Importers are not allowed to proceed without this code and exporters can’t take advantage of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
2. What is the requirement of IEC code registration?
At following instances the IE Code would be required:
- When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
- When an importer sends money abroad through banks then it’s needed by the bank.
- While an exporter has to send his shipments then it’s needed by the customs port.
- When an exporter receives money in foreign currency directly into his bank account then submission of IEC is required by the bank.
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3.Can Export/Import be made without IEC?
No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer
4.What are the documents required for IEC Code registration?
The list of scanned documents required for IEC Registration is as under:
- Photograph of applicant (Scanned copy)
- Scan copy of Self attested PAN Card of all partners/Directors
- Entity’s Pan Card in case of Firm/Company (Scanned copy)
- Scan copy of Cancelled Cheque/ bank certificate of the Entity or individual (in case the IEC code application is to be done on Individual’s Name)
5. What are the Steps to register for your Import Export Code?
Following are the steps to get your IEC registration done:
- Submit the documents required to Register IEC
- Get the Documents Verified
- Fill the IEC Registration Form online in Aayaat Niryaat Form 2A (ANF 2A).
- For IEC Print, you may get in touch with Ebizfiling.com
6. How can I modify my IEC application?
An application can be modified any number of times till it is submitted for processing. You need to login with the same details like PAN, mobile and email again.
7. What are the documents required for IEC modification?
The requirement of documentation in case of modification of IEC is the same as in the case of fresh application of IEC:
- Photograph of applicant
- Self attested PAN Card of applicant
- Entity Pan Card (if any)
- Pre-printed Cancelled Cheque/ bank certificate of the applicant
- Address Proof of the Entity (Sale Deed/ Rent Agreement/ Latest Electricity Bill/ Latest Mobile Bill/ Latest Landline Bill).
8. What may be reasons for rejection of the application even if it is submitted successfully?
Primarily it could be:
- The documents are not proper (not clear etc.)
- Address proof is not attached
- Name and address do not match with the documents
- IFSC is not mentioned on Bank Certificate
- Wrong DGFT RA is selected
9. Is PAN Number or PAN card essential or what are the alternatives for IE code registration?
Yes, for IEC Code registration, PAN card Number is mandatory. Self certified photocopy of PAN Card of the applicant has to be submitted with the application.
10.What are the benefits of IEC?
On the basis of IEC, companies can obtain various benefits on their exports/ imports from DGFT, Customs, and Export Promotion Council etc.
11. From where one can get IEC Form?
It can be downloaded from the download section of DGFT website under the link APPENDIX & AAYAAT NIRYAAT FORM ( ANF2A).
12. What are the documents needed for a foreign national for obtaining IEC?
Following are the documents required for a foreign national for obtaining IEC code:
- Board Resolution
- Memorandum of Association
- copy of Passport
- And all documents prescribed above for Indian Citizens.
13.What are the documents required for the issue of Duplicate IEC?
- Duly filled application form along with application fee of Rs.200/ and
- An affidavit on stamp paper of Rs.100/- duly notarized.
14. Can IEC be hand delivered or over the counter?
No, IEC issued are not dispatched or delivered. IEC will be issued in digital format. The applicant has to take an IEC print out of the digitally signed IEC.
15. Can a Public Limited Co./Private Limited Co./Partnership obtain different IECs for different concerns owned by it?
No. However, the name of each concern owned by such a company may be included in the IEC of the firm in whose name PAN exists, as a branch.
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