Importer Exporter Code
Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and doesn't require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 - 20 working days or less.
IEC Code Registration
Food Business License
Itaxbuddy.com can help your business obtian Import Export Code (IE Code) in 12 to 20 days, subject to Government processing time.
Application Preparation
An Itaxbuddy Tax Expert will prepare your IE Code Application in the prescribed format along with the necessary supporting documents and obtain your signature in the application.
Application Submission
Once the application is prepared, Itaxbuddy will submit the IE Code Application to the Directorate General of Foreign Trade for further processing and allotment of IE Code.
IE Code Allotment
Once the application and the attached supporting documents are verified, the Directorate General of Foreign Trade will allot a IE Code for your business..
Frequently Ask Questions (FAQs)
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What is IE Code?Open or Close
IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.
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Why is IE Code required?Open or Close
All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.
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Is there a tax levied based on IE Code?Open or Close
No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied.
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Who must obtain IE Code registration?Open or Close
Any person who proposes to import or export goods and services from or to India must obtain IE Code.
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Can individuals obtain IE Code?Open or Close
Yes, individuals acting as Proprietors of a business can obtain IE Code Registration.
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What are the documents required for IE Code registration?Open or Close
To obtain IE Code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a letter from the banker is required
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How long does it take to obtain IE Code registration?Open or Close
IE Code Registration can be obtained from the DGFT in 10-15 working days after submission of all required documents and application.
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What is the penalty for not having IE Code?Open or Close
IE Code is not a mandatory registration, only importers and exporters of goods or services must have IE Code. Therefore, there is no penalty for not having IE Code; however, import / export will not be possible without an IE Code.
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Do I have to file any returns for IE Code?Open or Close
No. Returns need NOT be filed for IE Code.
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How long is the IE Code valid for?Open or Close
IE Code is valid for life-time of the entity and renewal is also not necessary.