Import Export Code (IEC)

IEC, which stands for Import Export Code, is a unique 10-digit ID code for businesses. The Director General of Foreign Trade (DGFT) issues this code. Companies that import or export goods and services from India need an IEC. This code helps smooth out international trade operations. Customs clearance and money transfers across borders also require an IEC.

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Service Overview

IEC serves as a primary identification number for international trade, enabling companies to clear shipments, transfer funds and avail various benefits from government schemes. It is mandatory for you to get an IEC if you are looking to start your import export business. Get reliable services from a globally trusted compliance company. At JR Compliance we value your aim to reach global markets.

‍Challenges of Filing for a Private Limited Company

Complex Procedures

The formation of the private limited company is quite complex as it requires many legal formalities.

Time-Consuming

Sometimes, its exhausting to gather all the necessary papers and fill out all necessary documents.

Share Limit

In a Private Limited Company there is a limit of 200 shareholders, with a restricted limit on share transfers.

Business Commencement

Within 180 days of registering a Private Limited Company, the certificate of commencement of business must be obtained.

‍Challenges of Filing for a IEC Code

Complex Application Process

Navigating DGFT Procedures The IEC application involves understanding and complying with DGFT protocols, which can be intricate and time-consuming without proper guidance.

Document Verification

Minor errors can lead to delays or even rejection of the application. Hence, it is important to submit accurate details such as PAN and bank details.

Updates in regulatory changes

There are always modifications to certain policies, so staying informed on trade policy changes can save you from heavy penalties and may even be beneficial for your business.

Technical Challenges

Managing Online Application Systems The online application process may present technical difficulties, including system errors or unfamiliarity with digital platforms.

Advantages Of Registering A IEC Code

Global Market Access

IEC enables businesses to expand internationally, reaching new customers and markets.

Government Incentives

Registered entities can access schemes like MEIS and SEIS, enhancing profitability.

Simplified Compliance

Registered businesses can enjoy tax exemptions such as central excise duty exemptions and deductions on direct taxes.

Lifetime Validity

Once obtained, IEC remains valid indefinitely, eliminating renewal concerns.

Service Process

01

Consultation and Assessment

Evaluate business needs and eligibility for IEC registration.

02

Document Preparation

Gather necessary documents, including PAN, bank details, and address proof.

03

Online Application Submission

Complete and submit the IEC application through the DGFT portal.

04

Application Tracking

Monitor the status of the application and address any queries.

05

DGFT Communication Handling

We address any queries or clarifications raised by the Directorate General of Foreign Trade during the review process.

06

IEC Issuance

Receive the IEC certificate upon successful processing.

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Service Process

Consultation

We will have a consultation regarding your business vision and requirements to decide on whether the private limited company fits you well.

Documentation

We will help you to do the paperwork involving preparation of the Memorandum of Association and Articles of Association.

Registration

We will then forward all the necessary documents to the Registrar of Companies as required for registration.

Support

We will always be here with you to offer assistance and advice so that you can efficiently run your private limited company.

Compliance:

We will assist you in maintaining a continuing compliance with all legal and regulatory standards.

Service Process

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Service Breakdown

Eligibility

Business Entity: From sole proprietors to private limited companies, all can apply for an IEC without restrictions.

No Minimum Turnover Required: An IEC can be applied for irrespective of the size of your business or its revenue, which makes it a good option for start-ups.

Legal Entity Requirement: The applicant should be a registered legal entity and submit relevant documents like PAN and proof of address.

Application: Anyone who is an individual or organization can apply for the IEC.

Documents

Business PAN Card: This is the key document that serves as the business’s tax identification for import-export transactions.

GST Registration Certificate: Required to ensure compliance with indirect tax regulations while engaging in international trade.

Address Proof of Business: Any utility bill, lease deed, or ownership proof showcasing the business's operational location.

Bank Certificate or Cancelled Cheque: Proof of an active business bank account to facilitate transactions.

Aadhaar or Passport of Applicant: Identity verification of the company’s owner or authorized signatory.

Who Needs

Businesses Involved in Imports/ Exports: Companies and individuals looking to participate in international trade must obtain an IEC to meet legal requirements.

E-Commerce Exporters: Online retailers sending products overseas must have an IEC to facilitate shipment clearance and tap into global markets.

Customs Clearance Seekers: Individuals or entities importing/exporting goods need IEC for seamless clearance through Indian customs authorities.

Service Exporters: Service providers offering expertise internationally must obtain an IEC to receive foreign payments without hurdles.

Creating

Trust-Driven Relationships

JR Compliance is one of the known name for BIS certification, they are well versed with processes and guide client properly.

Kartik Shah

Published on 4 March 2024

We have outsourced the entire BIS certification responsibility of our panels to JR compliance since 2017 and their service so far has been exemplary.

P N Dhawanjewar

Published on 4 March 2024

We have been using JR Compliance services since last 3 years on various BIS related registration & testing of our various IT & electronic products. We really appreciate your full-fledged & excellent support in all respect in this matter.

K Narayanan

Published on 4 March 2024

FAQ

Is IEC compulsory for all the importers and exporters?

Yes, IEC is compulsory for all the business owner who plan to initiate their import and export activities from India.

How many days does it take to get an IEC?

The IEC takes up to 10 to 15 days after submitting the application to be verified then the code to be issued.

Does the IEC need renewal?

No, once IEC issued it does not need renewals as it is a lifetime valid document for any business.

Can a person request an IEC?

Yes, individuals who are proprietors of a business can get an IEC.

Whether there is a return filling requirement for IEC?

No, IEC do not have to file the periodic returns with DGFT.

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Import Export Code (IEC)

Service Overview

‍Challenges of Filing for a Private Limited Company

‍Challenges of Filing for a IEC Code

Advantages Of Registering A IEC Code

Service Process

Service Process

Service Process

Expert guidance through the entire IEC registration process, ensuring accuracy and efficiency.

Dedicated support for document preparation and verification to prevent delays.

Committed assistance to help prepare and check documents aiming to avoid holdups.

Stay updated with ongoing changes in regulations to keep your business compliant.

Why Choose JR Compliance?