Importer Exporter Code
Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and don’t require any renewal or filing. Therefore, it is recommended for most organizations to obtain the IE Code, irrespective of if they need it at the moment.
IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 1 – 2 working days.
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Reasons to Register an IE Code
- Importers Require IE Code: All Importers who import goods into India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad.
- No Return Filing: IE Code does not require the filing of any return. Once, an IE Code is issued there are no further procedures required to maintain validity of the IE Code. Even if import or export transactions occur, there are no filings required to DGFT.
- Exporters Require IE Code: All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
- Proprietors can have IE Code: Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.
- Lifetime – No Renewal: IE Code is issued for the lifetime of the entity and requires no renewal. So once an IE Code is obtained, it can be used by that entity for all its import or export transactions without any further hassles.
- Passport Size photo, Identity and Business Proof: Identity proof like passport, drivers license, Aadhaar card, voters id or ration card for the promoters with photo or person authorised to file IE code application. In case of legal entity or registered body, then partnership deed or incorporation certificate or registration certificate is required.
- Cancelled Cheque Copy: Bank certificate as per DGFT format or cancelled cheque bearing preprinted name of applicant firm and account number.
- Address proof of Firm : Address proof of the firm where firm is situated like Electricity bill along with rent agreement, if premises is on rent.
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FREQUENTLY ASKED QUESTIONS
What is IE Code?
IE Code stands for Import Export Code. It is required for any person importing or exporting goods and services to or from India.
Why is IE Code required?
All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.
Is there a tax levied based on IE Code?
No. IE Code is not a tax registration. So no tax is levied based on IE Code during import or export of goods or services. However, customs duty maybe levied.
Who must obtain IE Code registration?
Any person who proposes to import or export goods and services from or to India must obtain IE Code.
Can individuals obtain IE Code?
Yes, individuals acting as Proprietors of a business can obtain IE Code Registration.
What are the documents required for IE Code registration?
To obtain IE Code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a letter from the banker is required.