Importing and exporting goods in India requires an Import Export Code (IEC) license. This license allows businesses to engage in international trade and is mandatory for imports and exports.
Obtaining an IEC license is vital for the smooth functioning of any import-export business. This guide will discuss the online application process step-by-step to help you secure this license without hassle. Let’s get started!
Online Application Process
The entire IEC license application process is online and can be completed through the Directorate General of Foreign Trade (DGFT) website. Here are the steps:
- Register on the DGFT website
- Visit the DGFT website and click on “Register” on the top right corner.
- Select your login type – IEC applicant or IEC holder. Choose IEC applicant.
- Enter your email ID and create a password. Ensure it meets the password guidelines.
- You will receive a one-time password (OTP) on the registered email ID. Input this to verify your account.
- Create a profile
- Once registered, sign in to your DGFT account.
- In the profile section, enter details like PAN, business name, address, phone number, etc.
- Make sure to enter the correct PAN number linked with your business.
- You can save draft application forms as you fill in information.
- Apply for the IEC license
- In the Apply for License section, select Importer-Exporter Code Application (New).
- Select if you want to import/export goods for your own use or others.
- Choose the bank through which foreign exchange transactions will be done.
- Select the main type of imported/exported products. You can choose multiple.
- Fill in details like estimated import/export value and units imported/exported.
- List the names, address and other details of directors/owners/partners.
- Upload scanned copies of documents like PAN card, canceled cheque, etc.
- Preview the form carefully before final submission. An application fee will apply.
Documents Required
You need to submit certain documents along with the online IEC application form. Here are the key documents required:
- Identity proof: PAN card copy, Aadhar card copy, Voter ID, etc.
- Address proof: Aadhar card, electricity/phone bill, rental agreement, etc.
- Bank account proof: Cancelled cheque, bank statement with IFSC code.
- Business proof: Certificate of registration, partnership deed, etc.
- Digital photograph: A recent colored passport-size photo.
Note: All documents submitted should be self-attested by the applicant.
Application Fee
You need to pay the application fees online to submit the form. Here are the fees for different applicants:
| Applicant Type | Application Fees |
|---|---|
| Sole Proprietorship | Rs 500 |
| Partnership Firm | Rs 1000 |
| Private Limited Company | Rs 1500 |
| Public Limited Company | Rs 5000 |
| Others | Rs 1000 |
Application Processing Time
Once your IEC application is submitted, your documents will be verified by regional licensing authorities. If everything is in order, you will receive the e-IEC license certificate online within 2-7 working days.
In some cases, physical verification of business premises may be required which could take 1-2 weeks.
License Validity
The IEC license does not have an expiry date. Once issued, it typically remains valid throughout the life of the business or until cancelled.
However, it needs to be updated if there are any changes to business address, name, ownership, directors, imported/exported products, etc.
Conclusion
That concludes the key steps involved in securing an IEC license online in India. With this license, you can carry out hassle-free import and export activities. Follow the documentation guidelines and application process outlined above.
In case of any issues, don’t hesitate to seek assistance from regional DGFT offices or custom authorities. You can also hire professional consultants to aid with your application.
If you found this guide useful, don’t forget to share it with other importers/exporters. Good luck with your international trade endeavors!
