Importer exporter code registration in Paramathi
Importer Exporter Code India
IEC Full Form, Eligibility, Validity
Import Export (IE) Code India is a registration of an import and export companies with Indian Custom department that import and export commodities from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 - 20 working days or less.
Validity of IE Code
IE Code registration is permanent registration which is valid for a lifetime. Hence, there will be no hassles for updating, filing and renewal of IE Code registration. It is valid until the business exists or the registration is revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing.
As IE code registration is one-time and requires no additional compliance, it is recommended for all companies and LLPs to obtain IE code after incorporation.
IE Code Exemption
An Import Export Code is required for import of any type of goods by a business. However, the following category of persons are exempted from obtaining an IE Code:
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Importer and export by central Government or agencies or undertakings for defence purpose or other specified lists under Foreign Trade (exemption from the application of Rules in certain cases) Order, 1993.
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Import or Export of Goods for personal use.
Applying for IE Code
Para 2.08 of the Handbook of Procedure contains provisions relating to the application for IE Code. Vide public notice no. 27/2015-2020 dated 8th August 2018, the said para under-went an amended and the provisions of the amended para as applicable with regard to the application for IEC is provided hereunder –
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Exporters/importers shall file an online application in form ANF 2A.
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The applicant is required to submit only two documents; one is the address proof, and the other is the pre-printed cheque or bank certificate.
