Importer Exporter Code Registration in Chennai
Register for an Importer-Exporter Code (IE Code) in Chennai. Intellectofilings provides expert assistance for individuals and companies engaged in importing or exporting goods and services from India. Ensure compliance and streamline your international trade operations.
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Overview of Importer Exporter Code Registration in Chennai
Obtaining an Importer Exporter Code Registration in Chennai is essential for all individuals and entities involved in importing or exporting goods and services from India. The IE Code, also known as an export license, import license, or EXIM license, can be obtained online by submitting the relevant documents. By obtaining the IE Code registration in Chennai, companies can benefit from various incentives offered by the DGFT, Customs, and Export Promotion Council.
We are the best IEC code consultants in Chennai Online, with extensive experience in IEC registration services. As an import-export license consultant, we can provide you with all types of import permits, export permits, and import-export licenses for your business online. An IE Code is a must-have for any business dealing with the import or export of goods.
Where IEC is Required?
An IE Code (Import-Export Code) is required for all individuals who are involved in activities such as importing or exporting goods and services from India. This code is necessary for importers to clear their shipments from customs, for exporters to send their shipments from the customs port, and for both importers and exporters to send and receive money abroad through banks. In Chennai, the IE Code can be obtained online by simply submitting the necessary documents.
Who requires IEC?
The Directorate General of Foreign Trade requires the following entities to obtain an IEC registration in Chennai:
- Exporters and Importers
- Export Houses
- Manufacturer-Exporters
- Production Facilities importing Raw Materials
- Importers of Goods seeking Special Authorization from DGFT
- Entities intending to engage in EXIM Business.
Where Import-Export Code (IEC) is Not Mandatory?
An Import-Export Code (IEC) is not required in the following cases:
- Exports and imports of goods for personal use.
- Exports and imports of goods for display or exhibition purposes.
- Exports and imports of goods by news agencies, correspondents, journalists, etc.
- Exports and imports of goods by diplomatic missions or consular posts.
- Exports and imports of goods by the UN or specified international organizations.
- Exports and imports of goods by foreign tourists for their personal use.
- Exports and imports of goods by foreign airlines for their operational purposes.
- Exports and imports of goods by foreign embassies or high commissions in Chennai.
Benefits for Importer Exporter Code Registration in Chennai
- Expansion of Business
IEC can help you expand your business by taking your services or products to the global market.
- Availing Several Benefits
The DGFT, Export Promotion Council, Customs, etc., could provide several benefits to the Companies for their imports/ exports on the basis of their IEC registration.
- No filing of tax returns is required.
- There is no need to renew.
Documents Required for Importer Exporter Code Registration in Chennai
- PAN Card of the Applicant
- Aadhar Card of the Applicant
- Bank Account Details of the Applicant
- Memorandum and Articles of Association (if applicable)
- Certificate of Incorporation (if applicable)
- GST Registration Certificate (if applicable)
- Digital Signature Certificate (DSC) of the Applicant
- Passport size photograph of the Applicant
- Address Proof of the Applicant (Electricity Bill/Telephone Bill/Rent Agreement/Property Tax Receipt etc.)
Process for IE Code Registration
- Obtain a Digital Signature Certificate (DSC): A DSC is a digital key that is used to sign documents electronically. It is mandatory for all applicants to obtain a DSC before applying for an Import Export Code (IEC).
- Apply for an IEC: The application for an IEC can be made online on the DGFT website. The applicant must fill in the form and attach the required documents along with the application.
- Submit the Application: Once the application is filled and all the documents are attached, the applicant must submit the application online.
- Receive the IEC: Importer Exporter Code Registration in Chennai ,Once the application is approved, the applicant will receive an IEC number via email or post. This number must be used for all import and export related activities.
- Renewal of IEC: The IEC must be renewed every year by submitting a renewal form and paying the applicable fees.
Validity and Cancellation of an IEC Registration
An Importer Exporter Code (IEC) registration is valid for a period of five years from the date of issue. The registration can be renewed for a further period of five years by submitting an application to the Regional Authority.
The IEC registration can be cancelled by the Regional Authority if the importer or exporter fails to comply with the provisions of the Foreign Trade Policy or any other law for the time being in force. Importer Exporter Code Registration in Chennai The Regional Authority may also cancel the IEC registration if it is satisfied that the importer or exporter has ceased to carry on business or has ceased to exist.
- Illegal export or import of restricted items
- Providing false information to customs authorities
- Disregarding customs instructions
- Violating regulations outlined in the Foreign Trade Policy are all prohibited.
FAQ
What is an Import Export Code (IEC) registration?
An Import Export Code (IEC) registration is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to businesses that are involved in the import and export of goods and services. It is mandatory for businesses to obtain an IEC in order to engage in international trade.
Who needs to obtain an IEC registration?
Any business that is involved in the import or export of goods and services must obtain an IEC registration. This includes manufacturers, traders, exporters, importers, and service providers.
Is there any taxation based on an IE Code?
Import-Export code is not a tax registration; however, depending on the product, certain custom duties may be imposed.
What documents are required to prove the authenticity of a firm if the IEC is returned undelivered?
In order to prove the genuineness of your firm in the event that the IEC is returned undelivered, you would need to provide proof of address such as a copy of the ownership title, a registered copy of the lease deed, a copy of the telephone bill, an electricity bill, and a registered copy of the rent deed.
What to do to obtain new or amended Import Export Code?
To obtain a new or amended IEC, you must check the status of your Business Identification Number (BIN) on the official website.
Are there any Pre-Requisites for Applying for IEC?
Any individual or business entity, such as a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, or Society, that has a PAN, a bank account in the name of the firm, and a valid address and wishes to engage in foreign trade can apply for an Importer Exporter Code. Additional documents may be required and the address may be physically verified by the DGFT upon issuance of the Importer Exporter Code.