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Import Export Code (IEC) Registration: Things you should know

People who want to start their import and export business in India must need to know about the Import Export Code (IEC). IEC is an essential element for any import-export business organization. It is a ten-digit identification code which is issued by the director-general of foreign trade, the government of India z and the ministry of commerce andamp; industry. The import-export code (IEC) is issued to an exporter or Importer for the regional office if. Director-general of foreign trade (DGFT). Running any kind of import or export business in India is impossible without IEC registration. People can apply for the IEC registration via online or offline mode.

Those who want to apply for the IEC registration online can go through the official website of the director-general foreign trade (DGFT). And the official resignation of IEC involves submitting the application and required documents in the regional office of the Director-general of foreign trade (DGFT). IEC registration in online mode involves filling up the online application form, submitting all the required documents, and then making the payment. The whole process can take 5-10 working days to work. The import-export code offers lifetime validity, so there is no need for the time-to-time renewal. In case of an update or edit, any information people can apply in online mode. Read further to know more about the documents required and the process of updating your IEC.

What are the documents you need for IEC modifications?

These are the documents you need to update your IEC modifications, and people need to upload these documents along with the application form in the IEC modification.
· Digital signature of the applicant.
· Copy of PAN card of the applicant.
· Digital Photograph (3x3cms) of the applicant.
· Bank Certificate as per ANF 2A(I) or a cancelled Cheque bearing preprinted name of the applicant and A/C No.
· for a partnership firm, the Copy of the Partnership Deed
· Certificate of incorporation as issued by the RoC (if any)
· Copy of Passport (first andamp; last page)/Aadhar Card/Voter’s I-Card/Driving Licence.
· Sale deed in case business premise is self-owned, or Rental/Lease
· An agreement, in case the office is rented/leased, or the latest electricity/telephone bill.
· Registration Certificate of the Society/Copy of the Trust Deed (in case of registered society or trust)
· Copy of the original IEC certificate

What is the procedure in IEC modification?

People may need legal help in import-export modification if they don’t have knowledge about the process. The legal consultant can help with this process and in updating Import Export Code IEC registration online. A legal professional will prepare you and help you to fill out the application in the regional office of director-general foreign trade (DGFT). But the individual needs to follow certain steps to make the changes.

  • Open the DGFT website
  • Click on the “Services” tab and select IEC
  • Click “IEC Application”
  • Enter your PAN no. and click on search
  • Enter your name, date of birth ad captcha. Click on submit.
  • Select the option “Modify e-IEC.” Enter the mobile number, e-mail id, and captcha. Click on the “Generate OTP” button.
  • You will get an OTP on your mobile number
  • Enter the OTP and proceed to the next step
  • You will find the prefilled IEC application form, so make changes
  • Upload the required documents, and then go for a payment.
If the changes you made are approved, then you will get an e-mail of the new or modified certificate. This process usually takes 2-3 working days. If you hire a legal consultant or a professional, then he/she can do the work on your behalf. The professional collects all the required documents and prepares the import-export code application for modification, then submits the application. The professional will send you the application when he/she gets it. You don’t have to worry about the process or spend your time in the modification of your IEC certificate.

When should you update your IEC registration?

An Import export code is important for foreign exchange, export subsidy, custom clearance, and exporter or Importer have to update registration whenever needed. The modification of IEC is required in some situations.

Wrong information

People can modify the IEC certificate online in case of any error in information or incorrect information in the certificate. Apart from that, in case of changing e-mail Id, mobile number, or any details, people can apply for IEC modification. People can find the guidelines to change their phone number and e-mail Id.

Changing business address

In case the exporter or Importer changes his/her business location, then he/she must have to update the new location with the help of an online modification process. The Importer and exporter need address proof to modify the IEC certificate.

Change in the name of the company

If the Importer or exporter decides to change the name of his/her company, then he must apply for the Import export certificate modification thorough online. The Importer or exporter needs to attach the related documents to the application form.

Exclusion or addition on new partner or director in the company

If the business organization has decided to add a partner/director or to exclude the partner/director, then it needs to be updated on the Import export certificate. The individual can apply through the online mode with the proof identify if the partner or director along with the digital signature in the IEC modification application form.

Mandatory modification

According to the import-export laws, the exporter or Importers needs to update the import-export certificate once a year.
If the Importer or exporter wants to make any changes or modifications, then he should do it as soon as possible. If he doesn’t mention the changes, then the officials can take action. It can also result in the cancellation of the Import export code forever. That is why it is so important to modify the certificate in case of any changes in the business firm.
Import-export code offers many advantages to a business organization. With the help of the IEC code, a business can expand the business globally. Nowadays, with the advancement of technology, the resignation of IEC has become easier and less stressful due to its online presence. If an Importer or exporter wants to take advantage of all the benefits of the IEC code, then he must register for it. IEC code exists for a lifetime, and it doesn’t require renewal. The processing is simple, and the business firm can get so many benefits from the export promotion council and the director of foreign trade.

Disclaimer:
Important: Please note that the information on this page / site is provided as general information for better understanding for the user and does not constitute tax, legal, or other professional advice and must not be used as such. Please consult your professional adviser(s) if you have any questions / doubts regarding the above.

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