MEANING
Import Export or (IE) Code is a registration required for persons undertaking import or export transactions of goods and services for availing benefits under schemes like SEIS or MEIS. Without the IE Code, one cannot import or export.
The IEC is a ten-digit code with permanent validity issued by the Directorate General of Foreign Trade (DGFT).
IE Codes, when issued, can thus, be used throughout its existence and it doesn’t require any renewal or filing of returns. Therefore, it is advisable for organizations to obtain the IE Code, irrespective of if they require it at the moment or not.
Once, the IE Code application made to the Directorate General of Foreign Trade along with the necessary supporting documents is submitted, DGFT will issue the IE Code for the entity in 15 – 20 working days or less.
Though the IEC does not apply to technology and services, it does in cases in which the international trade of nuclear weapons and automatic guns are restricted.
FEATURES
- Individuals who are proprietors can attain the IE code in their name. It is not mandatory to setup a business for the same.
- Once issued, IE code is valid for a lifetime throughout the countyand requires no renewal, it only needs to be stated when the goods go through the customs or when sending or receiving money from abroad.
- An EC Code holder does not require filing of any returns or paying any taxes.
- Services or products promoted in the international market will enlarge businesses with potential growth.
- Companies can benefit the subsidies on their exports or imports from DGFT, on the basis of IE Code.
- Individuals who are proprietors can attain the IE code in their name. It is not mandatory to setup a business for the same.
- Once issued, IE code is valid for a lifetime throughout the countyand requires no renewal, it only needs to be stated when the goods go through the customs or when sending or receiving money from abroad.
- An EC Code holder does not require filing of any returns or paying any taxes.
- Services or products promoted in the international market will enlarge businesses with potential growth.
- Companies can benefit the subsidies on their exports or imports from DGFT, on the basis of IE Code.
DOCUMENTS REQUIRED FOR SERVICE TAX REGISTRATION
FOR INDIVIDUAL/propreitor/partner/director
- Copy of PAN and Aadhar Card or voter’s card.
- Copy of Voter’s ID OR Passport OR Driver’s License.
- Authorization Letter (partnership).
- Authority from the other directors on Letter head (Company).
- Partnership Deed (partnership).
- Board Resolution or self declaration (Company).
- Telephone Bill in the name of individual.
- Cancelled cheque of the individual.
- Passport sized photographs.
FOR THE ENTITY
- Copy of PAN Card of firm/company.
- Copy of Property papers (owned property) or rent agreement.
- The Landlord NOC.
- Cancelled cheque of firm.
- Electricity/ water bill (Business address).
- Telephone Bill in the name of the business.
- Copy of Service Tax returns (Proprietorship).
- Certificate of incorporation (Company).
- Bank statement of firm/company.
- AOA and MOA (Company).
- One letter head of the company (Company).
DOCUMENTS FOR ESI RETURNS
- Preparation of the application
Application must be made in the format of Aayaat Niryaat Form 2A to the DGFT where the registered office of the company is established. Online facility for filing has also been introduced for obtaining the IEC.
- Processing the application
The details of the business and its proprietors, partners or directors, bank account details and a bank certificate are one of the basic but important requirements for ANF 2A, the required documents for IEC must be thus, submitted with ANF 2A.
Digital signature is required on the form.
- Payment of IE Code fees
After the application is complete, it should be filed with the DGFT and an application fee must to be paid to the government.
- IE Code Issuance
The application is then completely verified by the department and the DGFT will allot an IE Code to the applicant.
This IE code is made available both in soft copy and hard copy.