In the globalized economy of today, international trade is easier than ever. However, before any person or business based in India is able to begin importing or exporting goods or services they have to first acquire the import Export Code (IEC). This 10-digit code, minted through the Directorate General of Foreign Trade (DGFT) serves as an enabling document that allows businesses to engage legally in cross-border trade. Through platforms like XportLicence.com, this essential step has become quicker, simpler, and completely accessible online.
What exactly is IEC and Why Do You Need It?
The Import Export Certificate is a unique identification code necessary for all businesses that are involved in either exporting or importing services. Without an IEC, you simply cannot conduct international trade in India. The IEC is issued by DGFT and can be used for a lifetime meaning that there are no renewals or continuing compliance is required immediately after registration.
If you're an individual, a sole proprietor, a company or LLP, a trust, or an organization, you may be eligible for an IEC. It is also mandatory when you wish to enjoy benefits from the various Foreign Trade Policies provided in the Government of India. In today's market that is highly competitive, having an IEC could open the door for international growth, brand new revenue streams, and government incentives.
Who is the person who issues the IEC?
The IEC is issued by the Directorate General of Foreign Trade (DGFT) that is as part of the Ministry of Commerce and Industry. The DGFT is responsible for regulatory and promotes trade between foreigners in India and has 24 regional offices across the country. Its headquarters is located in New Delhi and is responsible for the creation and implementation of trade policies in foreign countries in India, issuing permits, and checking the obligations of exporters.
Documents required to be submitted for IEC Registration
In order to obtain Your Import Export Code, the following documents are required:
To begin, you'll need your PAN card. This can either be the PAN of the person who is applying or the business entity. The second requirement is an authentic Aadhaar card or Voter ID to prove your identity. A proof of address is required, which could be a copy from property papers if you own the property or a rental agreement if the property is renting. A current electricity bill is required to validate your address. A self-declaration application is required to authorize sending IEC certificates. IEC certificate to your registered address.
These documents are used to verify your identity, place of residence, and your eligibility to be registered to perform import-export transactions according to Indian law.
How do I apply for an IEC using XportLicence.com
Requesting the IEC Through XportLicence.com is a quick and easy process designed to make your experience hassle-free.
In the beginning, you need filling the online application form that is available from the official portal. You will be asked to provide basic details like name, type of business address, address, and PAN number. Once the form is completed, you will upload the required documents, such as your PAN card Aadhaar card and the proof of address. Review the application to ensure that there aren't any errors, or missing information.
After verification, you will be required to make an online secure payment. Once you have completed the transaction and verified, the expert team at XportLicence will review your application. After verification and approval by DGFT, the IEC certificate is sent to your registered email address.
The process is typically completed within a couple of working days, and does not require you to visit a physical office.
What is the significance of the IEC important for Your Business?
The IEC isn't just an obligation in law. It's also a powerful tool to boost expansion. When you have an IEC in place, companies can easily expand their business to international markets. It functions as an legal entity for international transactions. It's often required by banks for processing out of the country payments.
Once you're registered it's not necessary to conduct any regular maintenance or conformity checks related to the IEC. This means it's a one-time, long-term solution iec code registration for your business's needs. In addition, companies with IEC registration are able to enjoy a range of benefits provided by DGFT, customs departments, and other government agencies. These benefits include subsidies in tax-related benefits, tax exemptions, and access to schemes for export promotion.
What's the Difference Between IEC and an Import License?
While each of the IEC along with the Import License relate to trade actions, they serve different purpose. The IEC is the most basic requirement for any export or import action in India and is applicable to the majority of goods and services. However, an Import License is only required for products or services that are restricted which are imported from certain countries. Most companies only require the IEC to start trading.
To obtain an IEC, one must simply complete an online application and upload the required documents to the IEC portal. However, applying for an Import License involves filling out a separate document (ANF-2M) and may be required to submit manual documents in certain cases.
Why do you choose XportLicence.com?
XportLicence.com is a reliable and ISO-certified platform that ensures IEC registration simple and easy. This platform is specifically designed to cater to first-time traders as well as entrepreneurs, small businesses or even large corporations that require efficient and reliable service.
In contrast to other generic portals XportLicence provides professional advice and assistance to ensure your application is completely legally compliant. Access to real-time tracking, digital support and a dedicated support throughout the process.
The platform is transparent user-friendly, secure, and focused on customer satisfaction. It also offers assistance with the digital signature registration process, complaint filing, and real-time complaint tracking. XportLicence.com isn't a mere portal. It's a friend in your trade journey.
Services Offered by XportLicence.com
The platform provides a wide range of services that cover every aspect of export and import licences. They include:
New IEC registration for new applicants to IEC
IEC Update and renewal support
Consultancy services for Import-Export
Digital signature registration
Example IEC certificate access
Online filing of complaints and tracking
Rapid customer support via the helpline as well as via email
The whole procedure is designed to be a seamless process with minimal documentation as well as no person-to-person visits.
What our clients are saying
A lot of customers across India have expressed a high level of satisfaction about XportLicence's offerings. Customers have reported increased trading business, increased access to international markets, as well as faster approvals. The service is frequently appreciated for being quick honest, transparent, and professional.
One customer from Chandigarh reported that their business experienced four times the engagement after signing up with XportLicence.com. The majority of feedback is favorable, indicating trust and reliability with the services provided.
Frequently asked questions
What's an IEC code?
It is a 10-digit code that is issued by DGFT that is essential for both importers and exporters in India.
What is the cost of receiving an IEC?
Fees could differ. Contact support for the latest pricing.
Are there any requirements on service suppliers?
Yes, in the event that the service is sold internationally and you'd like to claim benefits under trade regulations.
Do I have to export with an IEC?
No The IEC is required to be able to legally export.
What's the average time to get the IEC?
Typically it is issued within a few working days following the verification of the documents.
Is GST registration required on exporters?
Yes, typically GST is needed for tax credits and credits for input.
What is the legality of the IEC?
The IEC is good for a lifetime and does not require renewal.
Contact Information
If you need help, call us anytime to us between 10:00 AM and 5:00 (5:00) pm from Monday to Saturday.
Helpline Number: +91 9513446710 Alternate Helpline: +91 9355583095 Email: [email protected] Website: https://xportlicence.com
Disclaimer: XportLicence.com is a privately owned consulting company and is not associated with any government authority. It functions as a facilitation platform that allows users to register as well as manage IEC requirements in a simple manner.
If you're planning to venture into the world of commerce, begin your journey with a trusted partner. Visit XportLicence.com today and take the first step in expanding your business globally.