How to apply IEC online | The Complete Guide from Expert
In this article, I will tell you how to apply IEC online.
Firstly, you must apply for company registration online before applying for the IEC code. It will help you to get the license easily and also benefit from tax savings.
It is mandatory to have IEC (Import-Export Code) license if you want to do import or export business in India. However, without this, you cannot do business in import or export. Above all, the import-export code is of ten digits which do not need any renewal or re-issuance.
Online Process on how to apply IEC Online
To apply online for Import Export Code,
- First, visit the official page of the Directorate General of Foreign Trade and click on Apply for IEC. A new page will open in which the interested person will have to fill in their details and click on send OTP.
- By login through login id and password, the interested person can apply for an import-export code.
- After that, applicant has to enter his PAN, then click on the Next option.
- By selecting apply for fresh IEC, enter mobile number, email id, etc., fill the captcha code, and click on generate a token.
- After clicking Generate Token, the system will send the token to the applicant’s email id and mobile.
- These given tokens have to be entered in the given box and click on submit. While entering the token number, take care that the number to be entered should be the same as received by the applicant through mobile number and email ID.
If the information on how to apply IEC Online is too overwhelming, you can also consult an expert and quickly apply for it.
- If you do not receive the token number due to any technical fault, the applicant can generate the token number again by clicking on the regenerate token number.
- After that, a reference number will generate, as soon as the applicant clicks on submit.
- Various options will be visible to the left side of the screen and, the applicant should update all the details one by one like IEC master details, branch details, director details, etc.
- While modifying these details, the applicant should remember that V denotes view, A means to edit, and D means delete.
- After filing and updating all the details, the applicant pays the prescribed fee for the import-export code. Candidates can make payments through various online options. Like, a credit card, debit card, and internet banking, etc.
- After paying the fee, the applicant has to uploads the documents.
- To apply with Digital Signature, the applicant has to select the Digital Signature in Submission.
- After that click, on Sign and Submit.
The issuance of IEC to DGFT Directorate General of Foreign Trade may take up to two weeks after the complete application.
However, correction can be done for free within 90 days from the date of issue of the Import Export Code. If an application for rectification is made after 90 days, the applicant will pay the applicable fee.
What is the use of IEC Code?
The custom officials ask for Import Export Code while sending goods abroad. Also, you may ask for bank and port officials where you have to pay.
Some of the other uses are:
- To reach the global market
- Availing the benefits of various schemes
- No compliance
- No maintenance required
- Lifetime Validity
Mandatory Documents for IEC
- Proof of Business Establishment / Incorporation / Proof of Registration
- PAN card in the business name
- Should have a bank account with the name of the form printed on the cancelled check or bank certificate
For Proprietorship
- Aadhar card,
- Passport
- Voter card
To sum up, I hope I have given you the complete information on how to apply IEC online which will help you understand it better. You can also start your import-export from a sea located city like Mumbai etc. by looking for company registration in Navi Mumbai.
