Engaging with export-import activities without IEC registration is not permissible in India and is henceforth deemed as a legal offence. IEC certificate acts as an immediate clearance for exporters and importers in India. IEC code affixes on various shipping documents for custom clearances. Thus, obtaining IEC registration is an absolute mandate, and it should not be overlooked.
Import Export Code, i.e. IEC is a ten-digit code conferred by the Directorate General of Foreign Trade (DGFT) against prescribed application and fees. IEC registration serves as mandatory legal consent for entities intending to start an export-import business in India. It is also mandatory for manufacturers cum exporters and establishments that continually import raw materials to manufacture goods.
Who needs IEC in India?
Directorate General of Foreign Trade mandates the following to obtain IEC registration in India.
- Exporter and importer
- Export houses
- Manufacturer cum exporter
- Production facilities importing raw material
- Importer of goods seeking special authorisation from DGFT
- Entities intending to engage with EXIM business
Documents to be uploaded for IEC registration during online filing
Applicants seeking IEC registration are required to visit DGFT’s portal and fill out the relevant e-form. During electronic filing, applicants are required to upload the following documentation:
- Copy of business certificate such as incorporation certificate, partnership deed
- Passport, PAN, Voter ID, DL of the managing partner
- Tenancy proof of the business place
- Bank certificate or cancelled cheque (in case of a partnership firm)
Important information about LMPC Registration
Step 1: Secure Class-2 Digital Signature From A Certified Agency
A digital signature is conferred by the Certification Authority and is signed with the private key of CA.
A digital signature usually entails the following details:
- Owner’s public key
- Name of the owner
- public-key expiration date
- Issuer’s name
- Serial number
- Issuer’s digital signature
Digital signatures leverage the PKI technology, i.e. Public Key Infrastructure technology.
Step 2: File An Application Form With DGFT
Applicants can proceed to DGFT online portal to apply for IEC registration. To serve this purpose, they must create a legit account on the said portal before addressing the registration formalities.
Step 3: Submit Requested Documentation In Prescribed Format
During application filling, the applicant shall be prompted to furnish aforesaid documentation. Do the needful to submit the same in format as prompted by the application form
Step 4: Submit Application Fees
Proceed to the payment section to submit the requested fees upon submitting the application form.
Step 5: Application And Documentation Inspection
After submitting the IEC registration application, the concerned authority shall initiate the inspection process to make some legal checks.
Step 6: Grant Of IEC Registration
Authority shall grant the IEC registration after successful vetting of application and documentation.