KEY POINTS OF IMPORT EXPORT CODE REGISTRATION

• When IEC is Required ?:- Import Export Code required in the business of export or import of goods and services in India.
• Issuance Authority:- IE Code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.
• Annual Renewal Required:- IE Code is no more one-time process. Import Export Code requires annual renewal.
• No Returns filling:- IE Code neither requires any kind of returns filling nor any further procedural compliances.
• AD Code:- Authorized dealer code required for customs clearance while exporting goods outside India. It can be obtained from the bank.

IEC CODE LICENSE MANDATORY FOR EXPORT SERVICE PROVIDER?

• The Import Export Code (IEC) license is a key business identification number which is mandatory for Exports or Imports from India. No business can make any import or export without an IEC Code Number granted by the DGFT.
• In case of if you’re doing import or export of services or technology transfer, the IEC Code shall be required only when the service provider or technology provider is seeking benefits under the Foreign Trade Policy or is dealing with specified services or technologies under Section 7 of Foreign Trade (Development & Regulation) Amendment Act, 2010.

REQUIREMENT OF DIGITAL SIGNATURE FOR IMPORT EXPORT CODE

• Importers and Exporters can apply for Import Export Code Online. Thus, the need for Digital Signature of business owner / director for Import Export Code arises.
• Digital Signatures [DSC] are the most preferred way to apply for the online IEC code application.
• The DGFT also has a one-of-a-kind Digital Signature Certificate that it issues to organisations who already have an IEC code for export and import. Using this one-of-a-kind DSC, applicants can save up to 50% on License Fees.
• E-Startup India can help arranging digital signature [DSC] for the applicant

IEC REGISTRATION PROCESS

• Upload the required documents & information to our web portal.
• Choose Package and Pay online with different payments modes available.
• Our professional will prepare the application in prescribed format for IE Code.
• Attach applicant’s digital signature & file online application before DGFT.
• DGFT officials will verify & process the application within a week.
• After successful verification provides Import Export Code certificate over the email.

DOCUMENTS REQUIRED FOR IMPORT EXPORT CODE

• Passport Size Photograph.
• PAN Card.
• Bank Account Details.
• Pre Printed Cancel Cheque.
• Certificate from Bank.
• Address Proof.

CERTIFICATE OF ORIGIN FOR IEC CODE LICENSE HOLDER

A Certificate of Origin (CO) is an important international business document. The Certificate of Origin verifies that the products in an export cargo were entirely obtained, produced, manufactured, or processed in a certain country.

In other words, the Certification of Origin declares the product's "nationality" and also acts as a statement by the exporter to meet customs or trade regulations.

Customs, banks, private parties, and importers all require CoOs for a numerous of reasons. Also, Almost every country in the globe requires CoO for customs clearance operations, thus IEC Code License holders also need to apply for Certificate of Origin if he/she planning to export outside India.

A Certificate of Origin is issued by both the Indian Chamber of Commerce as well as Trade Promotion Council of India. Moreover, Import Export Code License Holders can two types of Certificate of Origin.

• Non-preferential Certificate of Origin specifies that the products being exported/imported do not get preferential tariff treatment and that the applicable charges must be imposed on the items being transported.
• Preferential Certificates of Origin are issued to products that are subject to preferential tariff treatment in the payments of tariffs. Preferential COs help in verifying commodities that are subject to lower taxes or allowances when exported to countries that provide these benefits. These COs are frequently linked to Regional Trade Agreements.