How to Obtain an Import Export Code (IEC) or Export License?

Import Export Code (IEC), also known as an Export License, is a fundamental requirement for businesses in India seeking to engage in international trade. 

Understanding the Significance of IEC or Export License

The Import Export Code (IEC) or Export License serves as mandatory registration with the Directorate General of Foreign Trade (DGFT) and is essential for customs clearance, getting government benefits and incentives, and complying with international trade regulations. 

When IEC is required

The IEC serves as a unique identification number that facilitates import and export activities. Let’s know when this license is required:

• When an importer needs to clear his shipment through customs.
• Banks need money sent abroad by importers when their accounts are credited.
• When an exporter need to send his shipment, the customs port needs it.
• When banks require exporters to report foreign currency received directly into their accounts.

The documents needed for IEC (Import Export Code) Registration

The following documents are required for IEC Code Registration:

• A copy of the PAN card of an individual, a firm, or a company.
• Copies of an individual's voter identification card, Aadhar card, or passport.
• A copy of the current bank account cancellation cheques of an individual, company, or firm.
• Rental/lease agreement or electricity bill copy of the business location.
• Registered mail envelope for IEC certificate delivery.

Step-by-Step Guide to Getting an IEC or Export License

Obtaining an IEC or Export License ensures businesses can legally and smoothly engage in global trade.

Let's understand the process of obtaining an IEC or Export License, as well as how to update IEC code online.

• Go to the DGFT website
• On the homepage, click the 'Services' tab
• From the drop-down menu, choose 'IEC Profile Management
• You will be taken to a new page. Go to the page and click on 'Apply for IEC'
• Select 'Register'. Click on the "Send OTP" button once you've entered the required information
• Click 'Register' after entering the OTP
• Once your OTP has been validated, you will receive a notification containing your temporary password, which can be changed once you log in to the DGFT website
• Enter your username and password after registering on DGFT's website
• On the DGFT website, click on 'Apply for IEC'
• Upload the required documents, pay the fees, and click on ‘Submit and Generate IEC Certificate’ to submit the application (ANF 2A format)
• The DGFT will generate the IEC code. As soon as the IEC code is generated, you can print a copy of your certificate

How to Update IEC Code Online?

Every time your business details change, your IEC code must be updated to reflect the new information. You can update IEC code online by following these steps:

1. Navigate to the 'IEC' section of the DGFT website
2. Access your IEC profile by logging in with your login credentials
3. Update your business details or address by selecting the appropriate update option
4. Please provide accurate and up-to-date information in the required fields
5. Make an update request online by reviewing the updated information
6. Keep track of your update request status using the online portal

Use ICEGATE Export Import Operations

Indian Customs' ICEGATE (Indian Customs Electronic Commerce/Electronic Data Interchange) is an online portal that facilitates export-import transactions. It allows users to electronically file customs documents, track shipments, and access trade-related information. With ICEGATE, you can streamline your export-import operations, ensuring compliance and efficiency.

Key Takeaways

By following the step-by-step guide to the issue of the IEC or Export License, you can navigate the application process smoothly and ensure compliance with international trade regulations. Moreover, export-import operations can be made more efficient and effective by updating the IEC code online and on platforms like ICEGATE.

For professional assistance in getting an IEC or Export License and updating your IEC code online, contact Xport Licence. We offer expert guidance that will simplify the entire process.