If someone starts the business of import and export one need to apply and get IMPORT EXPORT CODE number which is also called (IEC NUMBER) in India. Today there is a lot of potential in import and export business as in this business manufactures as well as traders get a very big market to purchase or sale the goods with big money into the pocket. The data of import and export are very rising every year. Earlier, import and export were considered very risky as well as high legal formalities but now a day’s government made it so easy that anyone can do this business. Government also makes some exceptions like income from export business are exempted to some extend to the income tax as well as there is no VAT/SALES TAX on export. Government also allows importing some duty free raw material in various circumstances as well as time to time. So for applying & getting IEC number in India there is a procedure to which you will get IEC number very soon & without any headache. The procedure become simpler with the policy circular no. 15(RE-2006) dated 27th July 2006.
Eligibility & other provision for IEC
1- No import and export will be made without a valid IEC number unless exempted.
2- An application for grant of IEC number shall be made by the Registered/Head Office of the applicant to the licensing authority concerned (to the office of the Zonal Joint Director General of Foreign Trade, Mumbai if the Registered/Head office of the applicant is located in the form specified in Appendix 2A below and shall be accompanied by documents prescribed therein.
3- The IEC number will be valid for its all braches mentioned in IEC.
4- If the IEC code misplaced, the holder can request for duplicate number with an affidavit.
5- If IEC user wants to surrender the number he can request issuing authority and the authority will immediately informs the entire channel that IEC number is inactive.
Paper required for getting IEC
1- Request letter on company’s letter head.
2- Application in appendix 2 and appendix 3 format duplicate.
3- Application fees of Rs, 1000 in favouring of licensing office.
4- Bank certificate duly signed by bank manager on bank’s letter head.
5- Pan card copy
6- Self addressed envelop with stamp of Rs. 25.
7- Signature in declaration.
8- Two colored passport sized photos.
9- All documents should be self attested.
10- All pages of the application form should be duly signed by the applicant.
11-IEC code is 10 digit numeric code issued by DGFT (Director General of Foreign Trade) Ministry of commerce on behalf of government of India
How to Apply for Import Export Code Number (IEC)