IEC code is a 10- digit unique code provided to importer and exporter. The businesses must have IEC if they are into importing and exporting goods and services to or from India.
Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, Customs, Export Promotion Council.
Documents For Individual/ Proprietor/ Partner/ Director
- Copy of PAN Card
- Passport size photograph
- Copy of Aadhaar Card/ Voter identity card
- Authorization letter (In case of Partnership)
- Authority from other Directors on letterhead (In case of a company)
- Copy of Partnership deed (In case of Partnership)
- Board Resolution/self-declaration (In case of Company)
- Telephone Bill in the name of the Individual (In case of an individual)
- Canceled cheque of individual
Documents for Entity
- Copy of PAN Card firm/company
- Copy of Property papers (If owned property)
- Copy of Rent agreement (If rented property)
- Landlord NOC (Format will be provided by us)
- Canceled cheque of firm
- Electricity/ Water bill (Business Place)
- Telephone Bill in the name of the business
- Copy of Service Tax returns (In case of Proprietorship)
- Certificate of incorporation (In case of a company)
- Bank statement of firm/company
- AOA and MOA (In case of a company)
What is the advantage of having an IEC?
Following are the summarized benefits of IEC
- Importers required IE code as it is a mandatory thing for them if they are importing goods and services.
- Exporters won’t be able to enjoy any benefit of exporting goods and services without the code.
- It does not require any return filing, once the code is obtained then there is no attached compliance to file.
- AN IEC is valid for lifetime once obtained, does not need any renewal charges.
- An IEC can also be surrendered when in no use.
- An individual acting as a Proprietor of a business can obtain IEC.