No one can export or import without an Import export code (IEC) which is a ten digit code. Everyone who wishes to export or import should have valid IEC. Organization can obtain IEC from Director General of Foreign Trade (DGFT) by submitting the application online by using the Digital Signature certificate (DSC). The required documents keep ready in scan copy and upload the documents in DGFT. The Authority will verify the documents uploaded by the applicant and issue the certificate of IEC online and same will be delivered by speed post to the address given by the applicant in application form.
The IEC registration will not be handed over to the applicant over the counter of DGFT office. Import Export Code is a permanent validity and there is no requirement for renewal of IEC. The proprietor can be obtained Import export code registration certificate in his name or company name. In case of any deficiency in application, the deficiency letter is sent by post. The IEC holder can apply duplicate IEC to Registration Authority accompanied with affidavit if original is misplaced.
The Assessee once obtained Import Export Code Registration, not required to renew the same after that. However they have to amend in registration certificate in case of changes.
A certain amount provided by the DGFT (Director General of Foreign Trade) for encouraging the business to export certain types of Goods and Services. The incentives will be credited in exporters account once the product has exported.
The service provider gets himself IEC registration when the service made to outside India. IEC is necessary for any person making an import into India or exporting a product or service.
For all those who have a liability to register themselves, if fails to do the same than under section 75A of the finance act 1994 penalty for the failure of an assessed to get himself registered was fixed at Rs. 500/- as a onetime payment but subsequently this section was deleted by the virtue of the finance act 2004 and now the general penalty that is applicable is Rs. 1000/- as per section 77 of Finance act.
Collection of Documents
Preparation of Application
Submission of Application
Certificate of Udyog Aadhar Registration