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IEC Registration in Haryana

IEC Registration in Haryana

Introduction:

Import Export Certificate (IEC code) registration is a process that enables individuals or businesses in India to engage in import and export activities. The IEC code is a 10-Character alphanumeric code issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India. It serves as a unique identification number for entities involved in international trade.

The IEC code registration is a mandatory requirement for individuals or businesses seeking to import or export goods and services from or to India. It acts as a primary document for custom clearances, opening bank accounts for international transactions, and availing various benefits and incentives provided by the government for exporters and importers.

The IEC code registration facilitates smooth and compliant international trade operations by ensuring proper documentation, adherence to regulatory requirements, and integration into the global supply chain. It enables businesses to explore new markets, establish international collaborations, and expand their reach beyond domestic boundaries.

It's important to note that the specific requirements and procedures for IEC code registration may be subject to updates and variations over time. Therefore, it is advisable to refer to the official DGFT website or contact the DGFT regional office for the most accurate and up-to-date information regarding the import export certificate registration process in India.

What is IEC Code?

IEC Code stands for Import Export Code. It is a 10-Character alphanumeric code issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India. IEC Code is also commonly referred to as Import Export License or simply IEC Code.

The IEC Code is a unique identification number assigned to individuals or businesses involved in import and export activities in India. It serves as a primary document for customs clearance, enables international transactions, and facilitates compliance with various regulatory requirements.

IEC Code is mandatory for anyone engaged in the import or export of goods or services from or to India. It is required for activities such as importing goods into India, exporting goods from India, sending or receiving money in foreign currency, and availing benefits and incentives provided by the government for exporters and importers.

Uses of IEC Code:

IEC Code (Import Export Code) serves several important purposes for individuals or businesses involved in import and export activities in India. Here are some key uses of IEC Code:

1.    Legal Requirement: IEC Code is a mandatory requirement for individuals or businesses engaged in importing or exporting goods or services from or to India. It is a primary document for customs clearance and is necessary for complying with legal regulations related to international trade.

2.    Customs Clearance: IEC Code is required for clearing customs for both import and export transactions. It enables smooth and hassle-free movement of goods through customs checkpoints by providing the necessary identification and authorization for the importer or exporter.

3.    International Transactions: IEC Code is necessary for sending or receiving money in foreign currency for international transactions. It allows individuals or businesses to engage in cross-border payments related to imports, exports, and other foreign trade activities.

4.    Availing Benefits and Incentives: The government of India offers various benefits and incentives to exporters and importers. To avail these benefits, such as export subsidies, duty drawbacks, or concessional rates, having an IEC Code is essential. It acts as a proof of the entity's engagement in international trade.

5.    Establishing Credibility: IEC Code enhances the credibility and reputation of individuals or businesses engaged in international trade. It demonstrates that they have undergone the necessary registration process and comply with legal and regulatory requirements.

IEC REGISTRATION PROCESS IN HARYANA:

The process for IEC Code (Import Export Code) registration in Haryana, India, follows the general procedure outlined by the Directorate General of Foreign Trade (DGFT). Here are the steps involved:

1.    Create an account on the DGFT website: Visit the DGFT website (http://dgft.gov.in) and register yourself by creating an account. Provide the necessary details to generate a user ID and password.

2.    Fill out the IEC application form: Log in to your DGFT account using the generated user ID and password. Fill out the IEC application form with accurate information about your business, such as name, address, contact details, nature of business, and bank account details.

3.    Prepare supporting documents: Gather the required supporting documents for IEC Code registration, which typically include:

  • Identity proof: PAN card, Aadhaar card, passport, or voter ID.

  • Address proof: Electricity bill, rent agreement, property papers, or any other valid document.

  • Bank certificate: A letter from your bank confirming your account details.

  • Partnership deed or Certificate of Incorporation: Depending on the type of business entity.

4.    Submit the application: Attach the supporting documents to the IEC application form. Review the details to ensure perfection and completeness. Once satisfied, submit the application electronically through the DGFT portal.

5.    Pay the fee: Pay the prescribed fee for IEC registration. The fee amount can vary and is typically paid online through the DGFT portal using net banking or other electronic payment methods.

6.    Track application status: After submission, you can monitor the status of your application through the DGFT website. It may take a few working days for the authorities to process and approve your application.

7.    Obtain the IEC certificate: Once your application is approved, the DGFT will issue the IEC certificate containing your unique 10-digit code. You can download the certificate from the DGFT website.

APPLICATION FOR IEC REGISTRATION IN HARYANA:

To apply for IEC (Import Export Code) registration, you need to follow these steps:

1.    Visit the DGFT Website: Go to the official website of the Directorate General of Foreign Trade (DGFT) in India. The website is http://dgft.gov.in.

2.    Create an Account: If you don't have an account, register yourself by creating one on the DGFT website. Provide the required details and generate a user ID and password.

3.    Log in to Your Account: Use your user ID and password to log in to your DGFT account.

4.    Access the IEC Application Form: Once logged in, navigate to the IEC section or search for the IEC application form. The form may be available under the "Services" or "Applications" tab.

5.    Fill Out the Application Form: Fill out the IEC application form with accurate information about your business. Provide details such as your name, address, contact information, nature of business, and bank account details.

6.    Attach Supporting Documents: Prepare and attach the necessary supporting documents. Typically, the documents needed for IEC registration include:

  • Identity proof: PAN card, Aadhaar card, passport, or voter ID.

  • Address proof: Electricity bill, rent agreement, property papers, or any other valid document.

  • Bank certificate: A letter from your bank confirming your account details.

  • Partnership deed or Certificate of Incorporation: Depending on the type of business entity.

  • Make sure to have both scanned copies and originals of the documents for verification purposes.

7.    Review and Submit the Application: Review the filled-in application form and attached documents to ensure accuracy and completeness. Once satisfied, submit the application electronically through the DGFT portal.

8.    Pay the Fee: Pay the prescribed fee for IEC registration. The fee amount can vary and is typically paid online through the DGFT portal using net banking or other electronic payment methods.

9.    Track Application Status: After submitting the application, you can track the status of your application through the DGFT website. It may take a few working days for the authorities to process and approve your application.

10.    Obtain the IEC Certificate: Upon approval, the DGFT will issue the IEC certificate containing your unique 10-digit code. You can download the certificate from the DGFT website.

IEC STATUS & VALIDITY:

1.    IEC Status: The status of your IEC can be tracked on the Directorate General of Foreign Trade (DGFT) website. Visit the DGFT website (http://dgft.gov.in) and navigate to the "Online IEC" section. Enter your IEC code and other required details to check the status. The status of the following:

Active: This means your IEC is valid and active for import and export activities.

  • Inactive: If your IEC is inactive, it may have been suspended or canceled. Contact the DGFT regional office to resolve any issues.

  • Pending: If your IEC application is still under review or processing, the status may be shown as pending. In this case, you need to wait for the authorities to complete the process.

2.    Validity of IEC: An IEC certificate is generally valid for the lifetime of the entity. Unlike some other licenses or certificates, the IEC does not require renewal or periodic updates. Once obtained, the IEC remains valid until it is canceled or surrendered voluntarily by the holder.

3.    However, it's important to note that if there are any changes in the entity's details, such as the name, address, or constitution of the business, it should be updated with the DGFT to ensure accurate records.

4.    Amendments and Modifications: If there are any changes to the information provided during IEC registration, such as a change in the name of the entity, address, or any other details, you are required to inform the DGFT and request the necessary amendments to your IEC certificate.

Amendments can be made by submitting the appropriate application and supporting documents to the DGFT regional office. Once approved, the necessary modifications will be made to your IEC certificate.

DOCUMENTS REQUIRED FOR IEC IN HARYANA 

1.    Identity Proof:

  • PAN Card

  • Aadhaar Card

  • Passport

  • Voter ID Card

  • Driving License

2.    Address Proof:

  • Electricity Bill

  • Rent Agreement

  • Property Tax Receipt

  • Sale Deed

  • Lease Agreement

3.    Bank Certificate:

•    A letter from your bank confirming your account details, including the account holder's name, account number, and IFSC code.

4.    Partnership Deed or Certificate of Incorporation:

  • Partnership Deed (in case of a partnership firm)

  • Certificate of Incorporation (in case of a company)

5.    Photographs:

•    Passport-sized photographs of the applicant.

Conclusion

IEC code (Import Export Code) registration is a mandatory requirement for individuals or businesses engaged in import and export activities in Haryana, India. It involves filling out the application form, attaching the necessary supporting documents, and submitting it through the DGFT portal. Once approved, the IEC certificate is issued, providing a unique identification number for customs clearance, international transactions, and compliance with regulatory requirements. It is important to keep the IEC code active and up-to-date by monitoring its status and informing the DGFT about any changes in entity details.

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Author:

Nidhi Sharma
Delhi
5th year BBA LLB (Hons.) Fairfield Institute of Management and Technology


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