Import Export License is a crucial document for the business holders who do international businesses, The greed of expansion of business is increasing in the people for that they have to expand it internationally. the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry is the main head in governing the responsible for the issuance of the Importer-Exporter Code (IEC). This code is a mandatory identification number for all businesses which are engaged in importing or exporting goods and services from the defferent countries in some rules and regulations. As latest Foreign Trade Policy which was released on March 31, 2023 the IEC is aligned with the firm’s. Permanent Account Number (PAN) is essential for availing benefits under the policy or dealing with specified services or technologies Under the IEC.
The process of obtaining these licenses involves several steps including identifying the correct type of license is needed, completing application forms and providing detailed information about the goods are must be get involved. For instance the IEC can be obtained by various types of firms, which can be ranging from proprietorships to limited companies and is now integrated with the firm’s PAN following the introduction of GS. The new policy aims to provide continuity and a responsive framework to promote India’s exports globally which is a significant move considering that India’s merchandise exports stood at $400 billion for the financial year 2021-22 marking a historic high in out indian history. It’s evident that these licenses not only regulate trade but also easier the smooth operation of businesses within the global market.
Ews Certificate Apply Online 2024: Documents, Eligible & Download
How To Apply For The Import Export Liscense
following is the procedure to apply for the Import Export Lisence Online, please follow the below steps carefully for applying the document
STEP 1 : First of all to apply for the document you need to go to the official website of the Import Export License Portal @ DTFT Website
STEP 2: After that homepage, will be open infornt of you now, you are able to see the option which say the “SERVICES“
STEP 3: Therefore you have to select the option Which says the ‘IEC PROFILE MANAGEMENT‘ in the drop down menu of the same section of service
STEP 4 : There will be pop up page will open infront of you in this page you have to click the option which says the “APPLY FOR IEC”There you have to get register onto the portal before going to apply.
STEP 5: Can Register using your Name,UserName, password and someother details. Dont forget to enter your mobile number to get OTP for the Registeration and Identification Purpose.
STEP 6 : Now, After getting Register Into the DGFT website you have to login onto the website. Moreover after login come to the option Apply for IEC
STEP 8 : You are able to see two option to apply, therefore you have to select the START FRESH APPLICATION Option, you have to enter all the required information and and upload the all the required documents into the site.
STEP 9 : Now, you have to click on the enter payment option therefore you have to pay the fee with credit/debit card although you can pay with the google and phone pay
STEP 10 : Completion of your payment you will get the print reciept for your dont forget to download the required applied application for the future purposes.
STEP 11 : After completing all the steps you are going to get an email of your IEC certificate after few days of workpregress and approval checkups completions, then you can easily download it from the official website of the DTFT
Required Documents To Apply For the Import Export License
To apply for the Importer-Exporter Code (IEC) in India, you will need the following documents:
- Individual’s, firm’s, or company’s copy of PAN Card.
- Proprietor’s voter ID, Aadhaar card, or passport copy.
- Proof of establishment, incorporation, or registration of the partnership, society, proprietorship firm, company, HUF, etc.
- Cancelled cheque copy of the current bank account.
- Proof of address, which could be a rent agreement or electricity bill copy of the premise.
Before applying make sure that the firm has a PAN and a bank account in the name of the firm and should contain valid address pf the business. The address may be physically verified by the Directorate General of Foreign Trade (DGFT) upon issuance of the IEC. Remember, the IEC is a key business identification number mandatory for export from or import to India, unless specifically exempted.
Overview of the IEC
| Aspect | Details |
|---|---|
| Purpose | Used for import and export transactions; mandatory for all cross-border traders except exempted categories. |
| Eligibility | Business entities involved in import/export; must be 18+ and registered with DGFT. |
| Validity | Lifetime, unless cancelled or surrendered. |
| Required Documents | PAN card, ID proof, business registration proof, bank details, address proof. |
| Application Process | Apply online via DGFT portal; submit necessary documents and fees. |
| Issuing Authority | Directorate General of Foreign Trade (DGFT). |
| Exemptions | Not required for personal use, certain government ministries/departments, and specified exempted categories. |
| Benefits | Access to export/import benefits under Foreign Trade Policy, easier compliance. |
What are the Benefits of The IEC
Grow Your Business Globally: With IEC, you can buy and sell products outside India.
Get Government Help: The Indian government gives special help to businesses that export goods. This can include money or other benefits.
Easy to Get: You can get your IEC code in about 5 to 15 days and you don’t have to do anything special after getting it.
No Need to Renew: Once you have your IEC, it’s good for life. You don’t need to renew it.
No Regular Paperwork: You don’t have to file regular reports or returns for IEC.
Helps in Shipping: It makes sending goods to other countries easier.
Money Transfer: It helps when you need to send or get money from outside India.
These benefits make it easier for businesses in India to work with other countries and grow their business.
Frequently Asked Questions
What is an Import and Export Certificate?
It’s a document that proves your goods are allowed to move in or out of a country.
Why do I need this certificate?
It helps you follow the rules for trading between countries and avoid any problems with customs.
How do I get an Import and Export Certificate?
You usually apply through your government’s trade department or a certified agency.
What information do I need to provide?
You’ll need details about what you’re sending, where it’s going, and who’s receiving it.
How long does it take to get the certificate?
It can vary, but it’s best to apply well before you plan to ship your goods.
Is there a cost for the certificate?
Yes, there’s often a fee, which can differ based on your location and the type of goods.
Do all countries require these certificates?
Most do, but the requirements can be different, so check with the destination country.
Can I use one certificate for multiple shipments?
Usually, each shipment needs its own certificate, but some programs allow multiple uses.
What happens if I don’t have the certificate?
Your goods might be held at the border, and you could face delays or fines
