Understanding Import Export License (IEC Code) for International Trade
An Import Export License (IEC Code) is a mandatory registration for businesses engaged in international trade. Issued by the Directorate General of Foreign Trade (DGFT) in India, this unique 10-digit IEC number is essential for businesses to legally import and export goods and services across borders. Without an IEC, companies cannot clear customs or engage in foreign transactions.
Why is an Import Export License (IEC Code) Essential for Your Business?
An Import Export License is not just a regulatory requirement but a powerful enabler of international business. Here's why your business needs it:
Legal Requirement: The IEC code is a legal necessity for any business involved in international trade, ensuring compliance with Indian regulations.
Facilitates Global Trade: The IEC code enables businesses to transact with international partners, opening doors to a global market.
Seamless Customs Clearance: An IEC ensures smooth customs processing, eliminating potential delays in international shipments.
Access to Export Benefits: IEC registration grants access to government schemes and export-related benefits that support international business growth.
Avoids Legal Penalties: Without the necessary IEC code, businesses risk facing legal penalties for unauthorized international trade activities.
What Documents Do You Need for Import Export License Registration?
To apply for your import export license (IEC code), you must submit the following documents:
PAN Card of the business owner or entity
Aadhaar Card or Passport for identity verification
Business Registration Certificate (such as GST, MSME, or Incorporation proof)
Bank Account Details and a Cancelled Cheque
Address Proof (Utility bill, rental agreement, or company registration documents)
Digital Signature Certificate (DSC) for online submission
Step-by-Step Guide to Obtaining an Import Export License (IEC Code)
Follow these easy steps to get your Import Export License:
Register on the DGFT Website
Visit the DGFT IEC Registration Portal and sign up for an account.
Complete the Online Application Form
Select βApply for IECβ and provide your business details.
Upload the necessary documents in PDF format.
Pay the Import Export License Fees
The government fee for IEC registration is βΉ500.
Payments can be made via Net Banking, Debit/Credit Card, or UPI.
IEC Code Approval & Download
Once your application is approved, download your IEC Certificate directly from the portal.
How to Check the Status of Your Import Export License (IEC Code)?
To check the status of your IEC registration, visit the DGFT Portal and enter your PAN number along with the application reference ID.
Frequently Asked Questions About Import Export License
1. What is the cost of an import export license in India?
The cost for IEC registration is βΉ500.
2. How long does it take to get an IEC Code?
Typically, it takes 1-2 working days to process and issue an IEC code.
3. Can I apply for an import export license online?
Yes, the entire process is completed online through the DGFT Portal.
4. Is GST mandatory for IEC registration?
No, GST is not required for IEC registration unless the business is GST-registered.
Get Expert Assistance for Import Export License Registration
Ensure a hassle-free IEC registration process with expert guidance from NG & Associates. We simplify the application and ensure your business meets all the necessary requirements to engage in international trade. Contact us today for reliable support and to start your Import Export License application!
