Import-Export Code number (IEC number)

This article "how to get an importer exporter code number (IEC number) in India" is basically for those who have an interest to start the business of import export into or from India. Export at these days is one of the most high-income businesses in India. The income from export business is also exempted from tax to the specified extend under the income tax act, 1961. There is no sales tax/VAT on exports. Ministry of Commerce has also allowed duty free import on raw material under various circumstances. There are also another tax benefits for import and export from India. We will talk to it on another articles.

So, If you want to import or export goods into or from India, you have a valid Import-Export Code number (IEC number). The customs authorities will permit you to import or export goods if you have a valid Importer-Exporter Code (IEC) number. So everyone who want to start export goods or imports goods must understand the procedure to get IEC number. Now the procedure become very simple to get IEC number because of Policy Cirulcar No.15(RE-2006)/2004-2009 Date:27^th July, 2006).

Introduction

The IEC code is unique 10 digit code issued by DGFT- Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies. An application for grant of IEC number shall be made by the Registered/Head Office of the applicant and apply to the nearest Regional Authority of Directorate General Foreign Trade, the Registered office in case of company and Head office in case of others, falls in the 'Aayaat Niryaat Form – ANF2A' and shall be accompanied by documents prescribed therein. In case of STPI/ EHTP/ BTP units, the Regional Offices of the DGFT having jurisdiction over the district in which the Registered/ Head Office of the STPI unit is located shall issue or amend the IECs. There are to ways to apply Importer-Exporter Code number as following.

An applicant may now choose one of the two options for application submission:

• File an online application and submit a physical copy of the application by taking a printout of the online application.
• Submit a physical copy of the application directly at the regional DGFT office.

Procedure of online application

1. Applicants can file an on-line application at the DGFT web-site http://dgft.gov.in. On-line form has been designed to ensure feeding of all the required information by prompting user wherever a field is left blank. Applicant has to submit scanned copies of PAN and bank certificate along with their application.
2. There are 2 options for payment of fee.

• If fee is paid by Demand Draft, IEC will be generated only after receipt of the physical copy of the application.
• If IEC application fee is paid through Electronic Fund Transfer facility, IEC number will be generated by the licensing office automatically and the number can be viewed online by the applicant.

• On the receipt of physical copy of the application, the same IEC will be printed in 24 hours time and dispatched to the firm.

Procedure for Physical Application

• One copy of the application must be submitted. Aayaat Niryaat Form – ANF2A
• Demand Draft of Rs.250 evidencing payment of application fee in favor of the concerned regional office of DGFT. Money can also be paid through Electronic Fund Transfer (EFT).
• Certificate from the Banker of the applicant firm in the specified format. Appendix 18A
• Self certified copy of Permanent Account Number (PAN) issued by Income Tax Authorities.
• Two copies of passport size photographs of the applicant
• Photograph on the banker's certificate should be attested by the banker of the applicant.
• Self addressed envelope and stamp of Rs.30.
• These documents may be kept secured in a file cover.

The above documents may be sent by post or hand delivered at the concerned regional DGFT office.

The IEC number should normally be given within two working days provided the application is complete in all respects and is accompanied by the prescribed documents.

Hints for filling IEC Applications

• Each page of the application form should be signed by applicant
• Enclosed documents should be self attested.
• One photograph of applicant shall be attested by the applicant's banker.

http://www.etaxindia.org/2010/02/how-to-get-importer-exporter-code-iec-number-in-india.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+etaxindia1+%28Tax+India%29