Everything You Need to Know About IEC Codes

At the current time, everybody wants to start their business, want to be independent,  and want to expand their business in the global trade market but many of them don’t know how it would happen. 

For importing & exporting certain goods & services you need to know about some rules and regulations that are essential in the trade sector. Even we can say that you will face many restrictions if you will not follow the proper rules and regulations. 

In this blog, we will give you information about everything You Need to Know About IEC Codes. what is the IEC Code, where this Code is used, what documents are required, what is the process of applying this IEC Code, and many more. 

Every country implements some rules & regulations in the import-export sector. If we talk about India then we see that India is implemented so many rules and regulations in the trade sector and the main rule that India implemented is, every importer & exporter should contain IEC Code. 

Without the IEC Code Importer may face many restrictions also, exporters should not be able to reveal profits given by the Indian government. 

Even we can say that IEC Code is the basic requirement of the import-export sector of India. This IEC Code is launched by the Directorate General of Foreign Trade (DGFT) of the Commerce and Industries Ministry of the Government of India. 

So don’t worry we are here to let you know about the whole process of the IEC Code. so without wasting more time let’s get started with IEC Code. 

What is IEC Code?

The term IEC describes the “Import Export Code”.  IEC is the most necessary requirement for those who are doing import-export business from India. It is basically a criteria for Indian Import-export business. 

Every importer & exporter must have to complete his registration for exchange goods & services throughout the world from India. It is basically a 10-digit code that is issued by the Directorate General of Foreign Trade (DGFT) of the Commerce and Industries Ministry of the Government of India. 

Importance of IEC Codes

We all know that Import export is a very big opportunity for those who are thinking to do something big in their life. So we have to know that the import-export code is the key to our happiness. It will open all the business opportunities in the global trade market. 

So we have listed some importance of IEC Codes that are written below – 

• Opens global trade market – The IEC code is the key that opens all your gates to enter the international trade market and enhance your business or take your business in the forward direction.  
• No time-bound and lots of business opportunities – once you complete your Import export code (IEC) registration you got a lifetime permit of doing import-export business. Additionally IEC Code gives you an opportunity to explore lots of Business opportunities in the global trade market. 
• No Return Filing – if you have done with the IEC registration then you don’t have any need to file the return.  In simple words, there is no requirement to preserve validity in the global trade market. 
• Subsidies for exporters – those who are exporting goods & services with a registered IEC Code so they will find many subsidies, Benefits, and many more from the (DGFT). They will also get a refund for those taxes they paid earlier in the global market. 

These are the most common benefits of the IEC Code. if you want to know more then visit our website Global search of Exim Trade Data. 

What are the necessary documents required for IEC registration?

If you are wishing to start your import-export business in the Indian market then the IEC code is the most required thing you have to do first, but for the IEC registration, you have to know what the necessary documents are required for IEC registration. 

Don’t worry Exim Trade Data give you the proper information what is the required document. So without wasting time let’s get started. The list of required documents is written below – 

• A duplicate of a PAN card of a company or person
• A copy of the building’s lease or an electricity bill
• A copy of a person’s passport or voter’s ID card
• A self-addressed, stamped envelope for the Import-Export Code (IEC) certificate’s registered postal delivery.
• Cancel cheque copies made by businesses, organizations, or people from their current bank accounts.
• Current Bank Account details – The exporter must have a Net Banking account with one of the recognized banks below.

1. STATE BANK OF INDIA
2. HDFC BANK
3. AXIS BANK
4. UNION BANK OF INDIA
5. CENTRAL BANK OF INDIA
6. PUNJAB NATIONAL BANK
7. ICICI BANK
8. BANK OF INDIA
9. IDBI
10. UTI Bank 

This is the list of required documents for the IEC registration. If you want to know more about different countries visit our Global countries of Exim Trade Data. 

How to get the Import-Export Code Registration?

If you are a new Indian businessman and want to expand your business around the world. You have to register your business with the IEC then you have to follow some simple steps that are written below – 

• Go through the official website of the government of India (DGFT website) https://www.dgft.gov.in/CP/# 
• On the DGFT website’s home page, select the “Services” tab.
• Select “IEC Profile Management” from the list provided.
• A new page will appear, Then on that page, choose the “Apply for IEC” option.
• The login/register tab will appear. Choosing “Register” because you are a new user. 
• Click the “Send OTP” button after filling out all the necessary information.
• An OTP will be sent to the registered phone numbers. Enter that OTP and choose the “Register” option from the menu.
• Enter your username and password to access the DGFT website after registering.
• Choose the “Apply for IEC” option in the menu.
• To make payment of the relevant fees, you must first fill out the online form (ANF 2A format) and attach the necessary paperwork. Next, pick ‘Submit and Generate IEC Certificate’.

This is the whole process of registering for the IEC Code if you still have any queries related to the registration process then reach out to us by mail at Info@eximtradedata.com. 

Also, if your IEC registration is rejected for any reason then you have to do the whole process again and register yourself for the Import-export code (IEC)

How to generate an IEC Certificate?

After successfully registering for the IEC Codes you have to generate the IEC Certificate for that you have to follow some essential steps that are written below – 

• Check out the DGFT webpage.
• To log in, enter your username and password.
• Next, select the ‘Services’ link on the home page.
• From the drop-down menu, choose “Certificate Management.”
• Then select “Print Certificates.”
• You can print the displayed PDF that will appear.

These are the steps for generating your IEC Certificate. If you want to know more feel free to reach out to us via call at  tel:91-9625812393. We will resolve all your problems related to the IEC Code. 

How to register for the IEC Codes digital signature?

After successfully completing the IEC Code registration, you have to register for the IEC Digital signature. For IEC Digital signature registration you have to follow some simple steps that are written below – 

• Visit the official DFT website https://www.dgft.gov.in/CP/#.
• After linking to an IEC number or IEC application. You must choose “My Dashboard” and then “View and Register Digital Signature Token.”
• Read the whole document and confirm that all requirements for digital signatures are satisfied. Click “Register New DSC” after making sure.
• Choose and continue with the digital signature information:
• After completing the conditions, click “Provider List” to get a list of e-Pass tokens. The e-Pass token can be selected from that list.
• From the list of certificates, choose the certificate you want to sign. Keep in mind that proprietorship businesses are the only ones that may use individual-based DSC.
• In the “Input Password” section, you must enter the DSC token pin.
• The successful sign will be followed by a successful message.
• You may find the digital signature information under “Current digital signature details” once the user has successfully registered the digital signature details. With the active Digital Signature, you may do any action on the IEC number.

This is the process of registration for the IEC digital signature. If you want more then visit our official website Exim Trade Data.  

Releasing IEC number

The IEC holder always has the option to give up their assigned IEC number by notifying the appropriate authority. 

If they no longer desire to use it. The issuing authority will revoke the number after receiving this notification and provide a digital copy to the DGFT.

The Customs and Regional Authorities will continue to operate in the same manner. And the person’s IEC number will be successfully withdrawn by the authority.  

Conclusion – in this blog, we will give you enough information about Everything You Need to Know About IEC Codes. We describe What is IEC Code, the Importance of IEC Codes, What the necessary documents required for IEC registration, How to get the Import-Export Code Registration, How to generate an IEC Certificate, How to register for the IEC Codes digital signature, and Releasing IEC number. 

We think we have explained more than enough information if you want to know more then feel free to reach out to me via email at Info@eximtradedata.com or call us at tel:91-9625812393

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