Step 1: Application Form
First, you need to prepare an application form in the specified format – Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.
Step 2: Documents
Secondly, you need to prepare the required documents with respect to your identity & legal entity and address proof with your bank details & the certificate in respect of ANF2A.
Step 3: Filing Application
Once your application is completed, you need to file with DGFT via DSC (Digital Signature Certificate) and pay the required fee for the IEC Registration.
Step 4: IEC Code
Finally, once your application is approved then you would receive the IEC Code in a soft copy from the government.
Documents required for IEC (Import Export Code) Registration
For IEC Code Registration following documents are required:
- Individual’s or Firm’s or Company’s copy of PAN Card
- Individual’s voter id or Aadhar card or passport copy
- Individual’s or company’s or firm’s cancel cheque copy of current bank account
- Copy of Rent Agreement or Electricity Bill Copy of the premise
- A self-addressed envelope for delivery of IEC certificate by registered post
Benefits of IEC Registration
1. Expansion of Business
IEC assists you in taking your services or product to the global market and grow your businesses.
2. Availing Several Benefits
The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.
3. No Filling of returns
IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of processes for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.
4. Easy Processing
It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.
5. No need for renewal
IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.