The Process to Search an IEC Code by a Company Name

An Importer Exporter Code (IEC) is a rare alphanumeric code and includes 10 digits that identify businesses or companies involved in global trade in India. No person shall export or import without obtaining an IEC first unless exempted. However, IEC is not needed for service exports unless the service provider is receiving incentives under the Foreign Trade Policy.

It has no expiration date and a one-time registration process and is valid as long as the business is operating. It is mandatory for any business or company that wishes to participate in global trade. This article provides details on the process of searching an IE code by a company name.

Import Export Code

The business entity must get an Import & Export Code to import or export from one country to another. The Directorate General of Foreign Trade (DGFT) issues a ten-digit unique number known as the Import & Export Code. An IEC registration certificate is required for every firm or company that deals with imports and exports. As a result, before beginning an import of products or services into India, an importer must confirm that the importing body has both a GST registration and an IEC code, which are both necessary to clear customs. If an importer does not have both an IEC number and a GST registration, the items may be held at the port and destroyed, incurring postponed charges.

How to Search an IEC Code by Company Name?

Acquiring an Importer Exporter Code is important for a company to engage in international trade. The process to find the IEC code online is as follows:

• Visit the official portal of the DGF.
• Go to the IEC portal and provide all the necessary details such as PAN card details, PAN holder’s name, and date of birth.
• After processing, the IEC code is generated and available to download on the portal. It’s a crucial step for businesses that are looking to engage in international transactions.

Requirements to Find the IEC Code Online for a Company

• A current bank account
• Certificate of your banker
• The PAN card number of the applicant
• The 2.5 lac INR of the registration fee
• The registration application should be delivered to DGFT RL and be received within 15 days.
• Although not required, having an email allows for easy contact and a speedier procedure.

How to Apply for an IEC Code Online for a Company?

To get an IEC online for your company or business, you must first register with the DGFT or Directorate General of Foreign Trade. The cost for this is Rs 250. After registering, wait for further action from the government, you may review the status of the application in the following way. First, go to the DGFT's official website, then to the IEC page, where you may check out the status of the application.

Let us go through the steps required in the process of registering an IEC code application:

• Visit the official website of the Indian Government’s Directorate of Foreign Trade.
• Go to the "services" option at the top of the page. The "IEC" choice will appear in a drop-down menu with other options.
• Select "Online IEC application" from the new submenu from the display.
• The applicant needs to enter their PAN card information. When you hit the "search" button, you will be sent to a page with several boxes.
• Enter your information as directed in the instructions. Fill out the Captcha as well.
• Enter your phone number and your email address, and you will get a one-time password through the given email and phone.
• You will need to enter both the passwords in the OTP box.
• After that, you will fill in the information of the application entity.
• Add the information of the branch on the upper side of the same page within 15 minutes of completing the last step. If you see any required fields are missing, simply click the "Add’ option. Keep the section blank if the company has no branch offices or branches.
• The proprietor, trustee, or partner's information with their PAN, birth certificate, proof of residency, phone number, and email address, must be filled correctly.
• Scan and upload the PDF or JPEG version of the important documents.
• After uploading the documents, pay the fee of Rs 500 using a card or through internet banking. Don't forget to select "verify pay" after paying the amount successfully and complete the procedure.
• You can print the application form once the payment has been verified. Check all the following details of the previous stages to make sure you have done it correctly. In this step, you can correct any errors or gaps you have discovered while reviewing your application. You can print the application from the portal once you have confirmed it.
• All of the previously given information and the number will be displayed in the last step. The DGFT will be auto-selected as well. Click on it to continue. Now you will be able to view and download your e-ICE.

The Documents Needed to Get Registered and Get an IEC

The following documents are required when registering for the IEC Code:

• PAN Card copy of an Individual, firm, or company.
• Voter ID, Aadhaar card, or passport copy of the Proprietor.
• Proof of establishment, incorporation, or registration of the partnership, society, proprietorship firm, company, or HUF, needs to be submitted.
• Proof of address of the business premises, such as lease deed, rent agreement, sale deed, or utility bills including electricity bill, telephone bill, or mobile bill.
• Cancel cheque copies of the current bank accounts of an individual, company, or firm.
• A self-addressed envelope for the delivery of an IEC certificate by a registered post.

Some other documents that may be needed to get an IEC Code online are as follows:

• The applicant prepares a cover letter on the letterhead of the company.
• The applicant's signature must appear on all pages of the application.
• Part 1 and Part 4 must be submitted electronically by the applicants.
• Not sending a physical copy of Part 1 of the paper is critical.
• The applicant must submit their application in the proper format to their local DGFT office.
• Only the required fields in Part 2 of the form must be filled out.
• An application fee of Rs 2.5 lakh must be paid through Demand Draft or EFT. A backup or duplicate copy of the bank statement must also be supplied.
• Following Appendix 18A, the applicant's banker must give a certificate indicating that they are the firm's banker.
• Two passport-sized photographs of the Banker
• For rapid post, an envelope stamped with a twenty-five rupees postal stamp with an address to self can be used, or a hundred rupees DD or challan from the bank can be used.

Validity of an IEC Code

As previously stated, the IEC Code doesn’t have an expiration date and is valid for life. As a result, updating, submitting, & renewing the IEC registration will be simple. It is valid if the business continues to operate or the registration is not canceled and relinquished. Furthermore, unlike tax registrations such as GST or PF registration, the importer or exporter is not required to submit any filings or comply with any other obligations such as yearly filing. Because the IEC code registration is a one-time process and needs no extra compliance, all exporters and importers should receive an IEC code following the incorporation.

How to download an IEC Certificate?

The IEC Certificate will be emailed to the user after the issuance. If necessary, the user can get the IEC Certificate by logging into the DGFT and selecting the "Print Certificate" option under the "Manage IEC” tab. The IEC must be communicated to the Central Board of Indirect Taxes and Customs (CBIC) and the transmission status can be viewed by going to the "My IEC" tab and comparing the IEC Status bar to the "CBIC Transmission Status." The Import Export Code is an essential document required to begin an import-export business or company. The IEC code must be obtained before exporting or importing any goods or services. IEC provides various advantages for company success. You cannot overlook the requirement of IEC code registration because it is necessary for import and export business.

Importance of Import Export Code

Businesses have a tremendous opportunity to reach the worldwide market through the import & export of their products and services. The IEC is necessary when entering the global market since it helps the company expand and thrive to some level. Obtaining an Import Export Code has several advantages. We've highlighted a handful of them below:

• Unlocking the International Market: Because the IE Code is required for the import & export company, the items can access the worldwide market. The IE code facilitates the admission of an international Indian firm and offers avenues for development and expansion.
• Online Registration is Available: The IE Code may be obtained online and with minimal document submission.
• Validity for Life: IE Code is a registration valid for the business's life. As a result, there are no problems updating, submitting, or renewing Import Export Code registration. The IE registration is useful as long as the business remains or until it is canceled or relinquished.
• Reduces the Movement of Illicit Goods: The most fundamental aspect of the Import-Export code is that you offer accurate information. IE code cannot be retrieved without providing accurate information. This criterion makes illicit commodities transportation difficult.
• Compliances: In contrast to other tax registrations, the individual carrying out imports or exports is not required to meet any specific compliance criteria such as yearly files or return filings.

This piece of content provided a detailed guide on the IEC code application. If you're a company owner who wants to obtain your Import Export Code (IEC) but doesn't know where to start, don't worry. Online Legal India is India's leading online legal community and you can get assistance by filling in your details on the website. We have a team of trained chartered accountants and legal professionals who will guide you through the entire procedure of obtaining your IEC code online.