IMPORT EXPORT LICENSE (IEC CODE)

So now that you have decided to Import or Export any Goods or Services from India. You must be wondering how to go about it? What are licenses and permissions to be taken from Government in order to start Importing or Exporting? First of all, Congratulations! You have made the right choice. There are tremendous opportunities to explore in this sector and it is ever growing.

Now the first thing you require to start Export Import business is to apply for Import Export Code (IEC). It is same as your PAN, however, it is compulsory to apply for IEC Code and register your firm with DGFT. IEC is issued to any bonafide Individual or Company. As a Passport is mandatory for traveling abroad, similarly an IEC Code Registration is mandatory to Export or Import anything from/into India.

IEC Certificate is issued by Directorate General of Foreign Trade (DGFT) which comes under Ministry of Commerce and Industry, Government of India. The main objective of DGFT is regulating and promoting Exports from India. It has a total of 36 branches across India. You have to make an application electronically and submit it to that particular DGFT office that falls under your jurisdiction.

Features of Import Export Code (IEC Code)

Permanent Validity

IEC Code has a permanent validity. Therefore there is no need to renew IEC Certificate. In case there is any change in Office Address, Directors/Partners etc, then the same IEC Code can be continued after modification.

Big Market

Import & Export Business is full of opportunities. If someone is selling Domestically, then IEC Code acts as a gateway to sell products in international Markets. Similarly goods can be imported into India from across the world.

Export Incentives

Export trade is important for any country's economy as it brings valuable Foreign Exchange into our country. Therefore to motivate Exporters, Government has put in place many Incentive Schemes, under which Exporters can get refund of approx 5% of Invoice Value.

Documents for Import Export Code
(IEC Code)

PAN Card of Individual/Company
Savings/Current account Cancelled Cheque
Passport Size photo
Class 2 or Class 3 Digital Signature
Address proof
Aadhar Card of all Directors/Partners

Get in Touch

How can we build your business?
For additional information on our management consulting services or
our industry expertise, please visit the appropriate page on our site. To get the latest updates from Patco Consultancy,
subscribe to a newsletter or connect with us on social media.
please fill in your contact details