Featured
Import/Export Code (IEC)
Lessons
Businesses that import or export goods or services are granted a ten-digit alphanumeric designation known as the Import Export designation (IEC). Importing and exporting is prohibited for any company without the Import and Export Code. Tax officials like Customs and DGFT personnel utilize the IEC, which is issued by the regional office of the Director General of Foreign Trade (DGFT), to uniquely identify import and export enterprises throughout India. In addition, the Indian economy's financial stability is guaranteed by the DGFT, which employs the IEC code to control the importing and exporting activities of Indian companies. Since it has the power to approve or reject an application, documentation is an essential component of the overall IEC registration procedure. Depending on the kind of entity applying, different documents must be included with the IEC application. Depending on the kind of entity submitting the application, we have included a comprehensive list of documents needed for IEC registration in the table below: Enrolment for IEC is entirely done online and is a very easy process. All you have to do is register your company entity on the DGFT official website. Following a successful online registration, you can complete the application for IEC registration, include the required paperwork, pay the application money, and then submit the form. You can utilize the registration certificate you will receive after your business's IEC is registered for foreign trade activities, along with the IEC allocation Visit the DGFT website and login to the portal with valid credentials. Proceed with Link IEC process by clicking on “Link IEC” button on dashboard or from Menu “My Dashboard -> Importer Exporter Code (IEC) ->Link your profile to IEC”. If you have already applied for and acquired your IEC from DGFT, it is necessary to know how to examine and access your IEC details on the DGFT website. In this step-by-step guide, we will lead you through the process of viewing your IEC on the DGFT site. It is now mandatory for all Importer Exporter Code (IEC) holders, regardless of any changes, to update and confirm their IEC details once a year. This process needs to be finished using the online system every year between April and June. The IEC will be deactivated for noncompliance, which will prevent any import or export activity. There might be circumstances where a seller or a trader intends to shut a business for multiple reasons. Whether one wants to import or export products or services, IEC registration is mandatory. However, in an event where a business will be shut down, the seller can also surrender the IEC certificate. To Revoke the DEL order (Denied Entity List) on your existing Importer Exporter Code (IEC) on the DGFT portal you would require: a) Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal). b) User should have an active DSC which contains the details of the Firm / Aadhar for Proprietor or Members of the Firm. c) IEC with Active DEL orders. To Revoke the Suspension on your existing Importer Exporter Code (IEC) on the DGFT portal you would require: a) Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal). b) User should have an active DSC which contains the details of the Firm c) IEC with Suspended Status. To Merger/Demerge your Importer Exporter Code (IEC) with another IEC on the DGFT portal you would require: a) Valid Login Credentials to DGFT Portal (After Registering on DGFT Portal). b) User should have an active DSC which contains the details of the Firm / Aadhar for Proprietor or Members of the Firm. c) IECs to be Merged/Demerged
Loading...
No Comments