The Process Of Applying For Import Export Code
If you are an importer or exporter in India, then you must know the importance of Import Export Code. If you are running a business and needs to widen your business globally, you have to register for this Import Export code that is issued by the Directorate General of Foreign Trade which operates under the Ministry of Commerce and Industry. If you don’t register for the Import Export Code, your dream of global expansion remains a dream only. The great benefit of IEC registration is that you need to register it only once, no need of renewal or return filling ever. So, to apply for Import export number, you must know the process for applying same.
The Import Export Code is a code of 10 digits that never expires and without having this code, no person can do import and export business in India. There are also some people who don’t require to apply for Import export number. So, those people who don’t need to have IEC are:
- People who do export and import for their personal uses
- People who usually do the export and import from or to Nepal and Mayanmar, but the limit should not exceed more than Rs.25000 in a single assignment.
- People who work in the Department of the central government or state government.
Why to apply for import export number:
- Every importer who imports the goods in India need an import export code. Even the banks who need to send money to abroad require IEC. Also, if you are an exporter in India, you need to have an IEC while sending shipments.
- Once you register for Import Export code, you don’t need to renew it again in your lifetime. So, you can use that code for your entire import and export transactions.
- Once you have Import Export code, you don’t need to pay any annual maintenance cost.
- It is easy to obtain the Import Export number from the office of DGFT within the period of 6-8 days after you submit its application.
The Process to apply for import export number:
- Submit a duly filled application form either online at the official website of DGFT with all the required documents or submit the application form to the Regional authority of the DGFT.
- If you are an exporter, then you must have a net banking account in any of the following banks:
- ICICI bank.
- State bank of India.
- HDFC Bank.
- Bank of India.
- Central Bank of India.
- UTI/Axis Bank.
- Punjab National Bank.
- Union Bank of India.
3. Open the DGFT website and you need to click on the IEC Online Application that would ask to enter your PAN number.
4. Submit PAN number and then you need to select Create under the File menu.
5 .A new ECOM reference number will be displayed.
6. You are then required to enter the details like name, your designation, pin code, address, date of establishment, phone number, PAN date, email id, and many more details.
7. Pay fees of Rs. 250 through online fund transfer.
8. Upload all the required documents and get your IEC in few days.
If you an importer or exporter, and need to apply for Import export number for your business, then get it from ClicknFile that helps to provide you the IEC at your convenience and as early as possible.