An IEC (importer exporter code) is a ten-digit code that is issued by the director-general of foreign trade (DGFT), which is compulsory for every organization that does or aspires to do the business of import-export.
Businesses can opt to apply for IEC online and there are things you’ll need to know for doing the same successfully. Before that, as a business, it is crucial to choose a suitable form of business. A private limited company is the preferred form of business among entrepreneurs. Hence, private limited company registration becomes vital; it can be done via relevant documents under the companies act 2013.
It can only be applicable when the goods or products are imported or exported for business purposes and not when you import goods and products for your personal use.
What the eligibility, and who can apply for IEC?
Every importer and exporter will have to apply for the IEC code compulsorily. Although, there are some exemption rules.
How can one apply for the IEC code?
One can apply for an IEC code by applying to DGFT, either via offline or online mode. The IEC code will be valid for the all-existing branches of an organization or business. One thing to keep in mind is that only one IEC code will be granted against the one PAN number.
Application for the IEC code can be initiated via the following steps;
Step 1 – visit the official website of DGFT, which is dedicated to it.
Step 2 – then click on the ‘online application’ tab, which will be visible on the left of your screen and from the drop-down menu, you will have to select ‘IEC.’
Step 3 – then select ‘online IEC application.’
Step 4 – then type your PAN number in the box and click next.
Step 5 – now go to File and select ‘new IEC application details.’
Step 6 – then you would be able to see a form. Fill in all the relevant information in the form, and then upload your documents.
Step 7 – here are some of the documents that you will require to upload;
– PANC to upload PAN copy.
– BKYS to upload bank certificate copy.
– FOTO to upload applicant’s photograph.
– MOAS to upload the MoA (memorandum of association).
– FM18 for uploading a form 18 if there is a change in registered office (if applicable).
– FM32 for uploading form 32 if there is any change in directors.
– ANFP would always stay disabled.
– EBRA for uploading board resolution’s abstract.
– AOTH to upload any other required documents (if any).
– NRID to upload the approval letter from RBI. (application if NRI).
A bank certificate, PAN card, and photograph are compulsory for all applicants.
Step 8 – once you upload all the documents after filling in all the information, click on ‘branch’ to add any branch details.
Step 9 – further, click on ‘director’ to add the directors’ details if there is a company.
Step 10 – click on ‘EFT’ to pay the fee online.
Step 11– fill in the details of the amount to pay, which would be Rs. 250 and select your bank.
Step 12 – then, you would see the draft invoice. Clarify all the details and make the payment by ‘pay now.’
Step 13 – make the payment through the internet banking details.
Online IEC application’s query and status.
Once you file the IEC application successfully, you would be able to see your IEC application’s current status at the regional office with the help of the query option and by choosing the ecomRef number/file number. You can see the application over there and details of attachments through the print application and attachments details on the tab. It would show you the IEC application’s online status.
What is the offline procedure to apply for IEC code?
As a business having the private limited company registration, you may well want to obtain an IEC code via physical forms to present it into the board meetings. In such cases, the following steps must be followed:
Step 1 – an application has to be made via filling the form ANF 2A. You can download the form from the website.
Step 2 – after downloading the form, fill in all the relevant details in parts A, B, and C.
Step 3 – put your sign on every page.
Step 4 – attach the self-attested copy of your bank account, PAN number along with two photographs.
Step 5 – attach the DD (demand draft) of Rs. 250, which has to be paid to the DGFT regional office.
Step 6 – you are required to attach a self-addressed envelope with Rs. 30 inside.
Step 7 – then, you will have to post the form, with all the relevant documents and envelope, to the regional office of DGFT.
After submitting a successful application, you would be granted the IEC allocation letter in the self-addressed envelope you had attached earlier.
