Easily Obtain Import Export Code
Import Export Code or IE Code is required for undertaking import and export transactions and availing benefits under schemes like SEIS or MEIS.
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Importer Exporter Code
Import export (IE) code registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering IE Code. Import export code has lifetime validity and it doesn’t require any renewal or filing. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
IMPORT EXPORT CODE REGISTRATION
IE Code can easily be obtained from DGFT within 10-15 working days after submission of the application along with all the necessary information. It is not necessary to show proof of any import or export to obtain IE Code. Even individuals who are proprietors of a business can obtain IE Code in their name. It is not required to incorporate a business entity for obtaining IE Code.
Importers & Exporters Require IE Code
Who import goods into India and who export goods or services from India require an IE Code. The IE Code must be quoted while clearing customs and while sending shipments. Banks require the IE Code while receiving and sending money from abroad.
No Return Filing
Import Export Code does not require the filing of any return. Even if import or export transactions occur, there are no filings required to Directorate General of Foreign Trade. IE Code is issued for the lifetime of the entity and requires no renewal.