ISO CERTIFICATION

• The IEC registration allows traders to enter the worldwide market by allowing them to register with online e-commerce operators.
• Customs and export promotion programmes such as the Merchandise Export from India Scheme (MEIS), the Service Export from India Scheme (SEIS), and others are available to businesses.
• The procedure for acquiring IEC is simple and may be completed with only a few basic documents.
• Importer Exporter Code is a unique 10-digit alpha numeric code issued on the basis of PAN of an entity.

IEC is one of the basic registrations by which a person can import or export its products or services and explore its business beyond the Indian boundary in the case of export. The government of India is giving various incentives for the export of products and services and is also a motivating factor to boost exports.

IECs are issued by the Director General of Foreign Trade, Department of Commerce, Government of India, and contain ten (10) Pan card based characters of the person or entity. The applicant's IEC number must be valid for all of its divisions/units/factories/branches. is valid for a lifetime and there is no need to renew it. For doing any imports or exports, IEC (Import Export Code) is a mandatory document and you can avail export benefit schemes like SEIS or MEIS.

IEC is required:

• When an importer has to clear his shipments from customs, then it’s needed by the customs authorities.
• When an importer sends money abroad through banks, the bank needs to collect it.
• When an exporter has to send his shipments, they are needed by the customs port.
• When an exporter receives money in foreign currency directly into his bank account, then it’s required by the bank.

According to the government's latest circular, IEC is not required for all GST-registered traders. In all of these circumstances, the trader's PAN will be interpreted as a new IEC code for import and export purposes. If the products being exported or imported are for personal use and not for commercial purposes, an Import Export Code (IEC) is not required. Notified Charitable Institutions do not require an Import Export Code for export/import done by Government of India Departments and Ministries.

ADVANTAGES

• Expansion of Business: IEC assists you in taking your services or product to the global market and growing your businesses. It is the basic requirement for the import and export of products and specified services into and out of India, allowing enterprises to take advantage of global commercial prospects. It broadens the business's global reach and hence provides opportunities for growth and expansion.
• Availing Several Benefits: On the basis of their IEC registration, the enterprises might receive many benefits from the DGFT, Export Promotion Council, Customs, and others for their imports and exports.
• No Compliance Required: The IEC does not need any returns to be filed. There is no necessity to follow any form of protocol to maintain its validity once it has been assigned. There is no necessity to file any returns with DGFT for export transactions.
• Simple Processing: It is relatively simple to get an IEC code from the DGFT within 10 to 15 days of submitting an application. It is not necessary to submit proof of any export or import in order to obtain an IEC code.
• No Annual Maintenance Cost: The IEC code is valid throughout the life of the entity and does not need to be renewed. After obtaining it, an entity might apply it to all export and import transactions. There are no filing or registration renewal requirements for each Financial Year or otherwise.
• Reduces the risk: IEC contributes to the abolition of unlawful transportation as well as illegal exports and imports. The centralised registration allows officials to better control and administer cross-border transactions. The responsibility for forbidden or restricted transactions is fairly distributed.

DOCUMENTS REQUIRED

• Photo ID and address proof issued by Government authority of Authorized Signatory.
• Photo ID and address proof issued by Government authority of all partner.
• Proof of possession of premises. (Sale deed/ Rent agreement/ Electricity bill, etc.).
• List of importing/ Export country along with products.
• Photo ID and address proof issued by Government authority of Nominee.
• GST Certificate of firm (if Any).
• Cancel Cheque of firm/ Bank Certificate duly signed by the authorities.
• Pan card of firm.
• Bank statement (Latest by two months).
• Partnership Deed.
• Brand Name/ Logo.
• List of Machinery with photographs

Timelines

It takes 5 to 7 working.