Import Export Code Registration
(Price Start at $ 30 /-)

In today’s age of cut-throat competition and globalization, every business aspires to grow and expand beyond the limits of its domestic market. While diving into the overseas market may look promising, there are certain regulations and compliances that one needs to be aware of, starting with acquiring an Import Export Code (IEC) license.

The Importer-Exporter Code, popularly known as an IEC number, is a business identification number issued by the Director General of Foreign Trade (‘DGFT’), Ministry of Commerce and Industry, now a days, the PAN number of the applicant is treated as the IEC, however, application for registration is mandatory in nature, to get oneself enrolled on the DGFT portal. Unless specifically exempted, no person can make any export or import of goods & services without obtaining an IEC. An IEC registration certificate is thus mandatory for individuals and businesses looking to get involved in the import/export business. If an importer does not have both GST Registration and an IEC code, the goods sought to be imported may get stuck at the port and start incurring demurrage charges or can even be destroyed. IEC enables importers to clear customs and shipment and allows them to transfer money to foreign banks. Conversely, exporters require an IEC to send shipments and receive money from foreign banks. The code is hence essential for clearing customs, facilitating international transactions, and complying with various trade regulations.

Unlike most other government licenses, the IEC license remains valid for a lifetime and does not need to be renewed on a regular basis, nor does it require the filing of any annual returns. However, mandatory KYC is required every year, in case of change or else. Seedling specializes in navigating the complexities of IEC acquisition, offers comprehensive solutions to the challenges businesses face while obtaining the IEC license, and seamlessly guides them through the process. Our firm is committed to supporting local entities in establishing their global presence and in taking advantage of the opportunities presented by international trade. Our team of knowledgeable experts provides professional and comprehensive service to clients, ensuring a seamless compliance journey.

What are the benefits of IEC registration in India?

1. Global Market Access: The IEC license helps businesses expand and grow by acting as a gateway to the international market and permitting the transportation of goods to and from the global arena.
2. Access to Government benefits:IEC registration is immensely beneficial for importers and exporters. Apart from gaining access to various government scheme benefits, license holders can enjoy subsidies from the Customs and Export Promotion Council. Exporters are able to export goods without paying tax by submitting a Goods and Services Tax (‘GST’) Letter of Undertaking (LUT) and are entitled to refunds in case tax was deducted.
3. Quick customs clearance:Obtaining the Import-Export Code makes the customs clearance process quick and simple, and prevents delays in the transportation of imported/exported goods or services.
4. Enhanced credibility:Having an IEC improves the credibility of businesses, builds trust with international partners, and makes cross-border transactions easy and legal.
5. Online registration:Online registration:
6. Perpetual validity:The code boasts of a lifetime validity and remains effective as long as the entity exists or the registration is not surrendered or revoked. This eliminates concerns regarding the code’s renewals.
7. Simplified compliance:In contrast to other tax registrations, the entity engaged in the import and export activities is not burdened with compliance obligations such as mandatory annual fling or filing of returns.
8. Curb illegal goods:The primary criteria for securing the IEC code is that applicants need to provide authentic and accurate information. This requirement acts as a deterrent against the transportation of illicit items and preserves trade integrity.