Registered or unregistered businesses have to obtain an Import Export License in order to transport goods to/from India into other countries. The Govt. of India has initiated the registration of Import and Export License online which makes it easier for the applicants to file the application and attach required documents.
This license is issued by the Directorate General of Foreign Trade in the form of a digital certificate. The issuance of the license can take up to 5 working days however; usually if all the details mentioned in the application are verified to be true then it does not require much time.
As a trader, you would require your Import Export Code at the -
You can also file manual applications at the concerned Regional Office which falls in your area. In this case, you need to save a soft copy of the application in MS-Word format.
The applicant needs to submit scanned copies of all the documents along with the prescribed form on the DGFT online Portal. The required documents are –
Some additional documents are required to be submitted in case the applicant needs to make any changes (in the details) after registration of the license. It may also depend on the type of Business Registration.
All the documents need to be submitted in a file format of GIF/JPEG of not more than 5 MB. A legal/criminal action can be taken against the applicant for providing false/incorrect details.
The Govt. fee for filing a fresh application is Rs. 500 which can be paid either through Demand Draft or Electronic Fund Transfer (EFT) TR 6 Challan.
TR 6 Challan is a manual/offline option of making payment for those applicants who do not have a debit/credit card. However; it should be submitted in the branches of Central Bank of India only.
You would require paying a professional fee if you authorise an attorney or agent to apply to your part. Quick Company, a legal registration company offers step-by-step guidance during the complete registration process.
*The professional fee is for preparing all the required documents and filing the application.
The applicant needs to pay a Government Fee of Rs. 200 to make any modifications/changes in the details of Import Export License after its registration.
The registration process for Import Export License is quite simple however; it is always safe to consult a professional attorney to refrain from filling incorrect form or details.
PAN Card is required to initiate the registration process of Import Export License.
The applicant needs to enter PAN details to proceed with the steps that follow.
You might also need to submit the form physically at the Directorate General of Foreign Trade office which falls under your business location.
The payment is accepted only through HDFC Bank, State Bank of India, Punjab National Bank, ICICI Bank, Central Bank, UTI Bank. Upon registration, the applicant will receive a link through SMS/E-mail to download and print the e-IEC Certificate.
The Directorate General of Foreign Trade have established a connectivity which makes it easier for the applicants to track their applications and know the current status in the process.
To check the status of your application online click on any of the two options which will directly take you to the concerned platform for more information.
Import Export License promotes international business in India and brings various opportunities for expansion.
Under the Foreign Trade Policy several government schemes have been launched which offer different benefits to the importers/exporters of India aiming to promote International Business.
Goods and Service Tax (GST) is an indirect tax which is applicable on different goods and services and is a combined form of Central and State Tax. After the introduction of GST in India, several changes came in acquiring Import Export License.
The Government of India has issued a notification stating that the Import Export Code would now be replaced by PAN/GSTIN, i.e. traders registered under GST need not apply for IEC registration separately.
GSTIN will now be used as an identifier at the transaction level for every import and export. In case GSTIN is not applicable, UIN (Unique Identification Number) or PAN would be accepted as Importer-Exporter-Code (IEC).
Also, for traders who are not registered under GST, their PAN would be considered as Import Export Code and will be used during import/export activities. You do not require an IEC in case the goods are exported or imported for personal use/purposes and not being used for any commercial activity.
No trader can import/export without getting the Import-Export License. However, there is a specific category which is exempted from IEC registration.