Process of Registration by Taxhub
Upload the basic Documents
Choose your Requisite plan and pay the Fees
Taxhub will file an application for IEC
Taxhub will Pay Fee to DGFT
Get your IEC Code
What is a IEC?
Import Export Code (IEC) is a ten digit number, comprising alphabets and numbers. IEC is a mandatory prerequisite to starting a business of Import or Export in India. The IEC code is a pan based registration, hence against one pan number the director general of foreign trade can issue only one IE Code. The IEC is a unique number through which a person is identified at all offices of Customs and DGFT across India. In general all the Imports and Exports can be done without any other authorisation, license or permission, However in the national interest or to regulate the trade or any specific commodity, the central government may restrict or prohibit the import or export of certain goods. In case you wish to import any item which is restricted, an application for license or permission to import can be made to the DGFT explaining the specific reasons for the export or import.
Who is required to take IEC Registration
If anyone fall into any one of the following Criteria:
1. When any person wants to Import goods or raw materials for his business then it is required to have IEC Registration.
2. When any Person wants to export goods or finished product to any country outside India then it is required to have IEC registration.
• Using E-Commerce Platform
Any Person who is using an Ecommerce Portal for selling his goods or providing services then he is required to take registration irrespective of their Turnover.
3. Any person who wants to send money abroad or wants to receive money from abroad then they are required to obtain IEC Registration.
Basic Documents Required
Documents of Individuals (Proprietor/Partner/Director)
- Copy of Pan Card (As Identity Proof)
- Copy of any one i.e Aadhar Card, Voter ID, Passport and Driving License (As Address Proof)
- Colour Photograph (Scan Copy)
- Mobile Number and Email ID for OTP.
- Cancel Cheque/ Copy of Pass Book of Saving Account
- Cancel Cheque/Bank Certificate bearing the printed name and account number of the appliacant.
- Copy of Pan card of Entity (Only in case of Partnership / LLP / Company)
- Copy of Partnership Deed/LLP Agreement/ MOA & AOA (Only in case of Partnership / LLP / Company)
If Property is owned by any Proprietor/Partner/
Director or his relative
- Copy of Sale Deed of the Property
- Copy of any one utility bill i.e. Electricity/Telephone/Gas/Water/Mobile
- NOC from the Owner (Taxhub will provide a draft copy)
- Copy of Rent Agreement
- Copy of any one utility bill i.e. Electricity/Telephone/Gas/Water/Mobile
- NOC from the landlord (Taxhub will provide a draft copy)
1,999/-
All Inclusive Fees
| IEC Registration (Sole Proprietorship) |
3,499/-
All Inclusive Fees
| IEC Registration (Sole Proprietorship) |
| Digital Signature |
5,499/-
All Inclusive Fees
| IEC Registration (Partnership/LLP/Company) |
| Digital Signature |
Benefits of IEC Registration in India
A person holding IEC feels very convenient in such a way that IEC do not require any periodic maintenance like annual compliances or annual filing.
IEC enables the businesses to reach worldwide market and to grab opportunities to establish business in international markets by way of export of their products globally.
Export plays an important role in development of economy of a nation, that’s why government of India always provides various benefits in order to promote more and more export from India. Government of India provides benefits in form of custom duty exemption, GST exemption, Duty drawback, Rebate and deduction under income tax and through various other means.
Registering for Import Export Code will mean that you need not file any returns. Once the code has been allotted to you, you will not be required to follow some kind of process to ensure that its validity is sustained.
Obtaining IEC is complete online process through its common portal. The online IEC registration application makes hassles little with simplified documents list attached therewith to support the application.
Obtaining the code is the license for importing and exporting goods and services for business purpose. It is a chief legal license that makes the cross border transactions easy and legal.
Shares of a company are movable property and thus can be transferred like any other property. A public company can freely transfer its shares, but there are some restrictions.
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted.
