IEC Code Registration

IEC CODE REGISTRATION

The full form of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person.

The full form of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. The IEC was founded in London and held its first meeting on 26th and 27th June in the year 1906.

An Importer Exporter Code is mandatory for the export as well as import of goods. IEC Code is necessary for those who wants to start their import/export business. The IEC Code is issued by the DGFT and it is a 10-digit code that has validity for lifetime. The IEC Code is compulsory only for the purpose of commercial and business.

The abbreviation of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. It is not a hard process but an easy process to obtain IEC Code from the DGFT within a time span of 10-15 days after the submission of the application. After the IEC Code is obtained, the code is used for the purpose of import as well as export.

IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. It is not a hard process but an easy process to obtain IEC Code from the DGFT within a time span of 10-15 days after the submission of the application. After the IEC Code is obtained, the code is used for the purpose of import as well as export. The validity of IEC Code remains for its lifetime unless and until one’s cancelled it.

International standard are known as technical standards created by the international organisations like Codex Alimentarius in food, the World Health Organisation Guidelines in health, or ITU Recommendations in ICT and are funded publicly and also are available freely for consideration and are use worldwide.

 

For purchasing IEC Standards and other IEC Publications one need to follow few steps and they are as follows:

1. a) One must go to the Government Website of DGFT, then on the left-hand side, under Quick Links one can see Online IEC Application and then have to click on that.
2. b) Then the applicant must click on LOGIN FOR IEC ONLINE page when it appears. Then the applicant must enter their PAN Number.
3. c) The applicant has to update the Master Data and all the steps are mentioned in details.
4. c) The applicant has to update the Master Data and all the steps are mentioned in details.
5. e) Next the applicant has to make payment and the amount is 500/-.
6. f) Next, PREVIEW the applicant have an option to preview the application and can make necessary changes if required.
7. g) Finally, the applicant must submit the IEC application. The most important thing one have to keep in mind while submitting that the applicant must be very careful while choosing the correct Jurisdiction DGFT as per the location.

Standards are developed through consensus by committees of affected stakeholders which may include representatives from industry, academia, governments, public interest. These committees are created and managed by an organisation that specialises in the standards development.

Horizontal standards means general standards that are applicable to multiple industries. Horizontal Standards are the OSHA standards that are applicable to most of the workplaces. For examples: PPE, Fire Protection, Hazard Communication.

Conformity assessment confirms products’ compliance with the requirements of applicable standards as well as technical regulations. Conformity of products is a proof by the issuance of a certificate of Conformity (CoC), a document that is compulsory for the clearance of customs.

What is IECEE?

IECEE is the IEC System for Conformity Assessment Schemes for Electrotechnical Equipment as well as components. IECEE is a multilateral certification system based on IEC International Standards. The members of the IECEE use the principle of mutual recognition of test results to get certification at national level around the world. The Schemes of IECEE looks after the safety, quality, efficiency and overall performance of components, devices and equipment for homes, offices, workshops, health facilities. Among all, IECEE covers almost 22 categories of electrical and electronic and testing services. The IECEE schemes help to reduce the barrier of trade caused by different certification criteria in different countries an helps the industry to access new markets. Moreover, the IECEE schemes eliminates the delays and costs of multiple testing and allows companies to market their products faster by reducing overall manufacturing costs.

What is IECQ?

The abbreviation of IECQ is International Electrotechnical Commission Quality Assessment System for Electronic Components. The IECQ is a worldwide approval and a certification system which covers the supply of electronic components and associated materials and assembles and processes. IECQ uses quality assessment specifications that are based on International Standards prepared by the International Electrotechnical Commission (IEC). The IECQ is all about cost-cutting as well as assurance.

Any country that can demonstrate that its National Committee has been constituted according with the IEC Statutes and Rules of procedure might apply to become a full member of IEC. The IEC full member has to pay their yearly membership fee and have the possibility to send experts to participate actively of their choice in any technical committee. The member of IEC may also apply for management positions and functions in the IEC and also have the voting rights in the council of IEC. Besides, some countries can have the option to become an IEC Associate Member.

India is a member in Standards Management Board (SMB) of IEC since 2015 and also elected for the second term in 2018-2020. India has participating member status in 92 Technical Committees and observer member status is 74 Technical Committees of IEC. Moreover, India holds the convenorship on 6 IEC committees.

Documents Required if In Case of Proprietor

The abbreviation of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. The following documents required in case of proprietor are:

• a) Pan Card.
• b) Aadhar Card.
• c) Electricity Bill or Rent Deed.
• d) Cancel Cheque.

Documents Required if In Case of Partnership

The full form of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. The documents required in case of Partnership are as follows:

• a) Partnership Firm Pan Card.
• b) Partnership Deed.
• c) Aadhar Card and Pan Card of all partners.
• d) Cancel Cheque of Partnership Firm.

The documents that are required in case of Private Limited or LLP are:

• a) Company Pan Card.
• b) Incorporation Certificate.
• c) Aadhar Card and Pan Card of all Directors.
• d) Cancel Cheque of Company

Procedures to Apply IEC Code

The full form of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. The Procedure to apply IEC Registration are as follows:

• One should fill the online application form.
• Should upload the required documents.
• Must make an online payment.
• Then, the IEC expert will call the applicant to process his/her application.
• Finally, receive his/her certificate via mail.

With the introduction of GST, IEC Code is issued is the same as the PAN of the firm. The IEC Code is applied on behalf of a firm that may be a Partnership, LLP, Limited Company, Proprietorship, Trust, HUF. The firm should have a PAN, bank account in the name of the firm along with the valid address before getting applied.

Advantages of IEC for Businesses

Businesses have great options through import and export business to unlock the international market for their product or services they are involved in. The IEC code is the main requirement to enter into international market which supports the growth and development of the business to a certain standard. Here are the Benefits or Advantages of IEC Registration for Businesses.

Global Market Reach

As said, it is the primary requirement for the import into and export from India for the goods and specified services which enables the businesses to unlock the opportunities across the globe in international business market. It increases the global reach of the business and hence opens door for growth and expansion.

Online Registration

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.

PAN Based Registration

The Code is provided based on the Permanent Account Number of the business organisation. Therefore, the registration is not required based on place of business rather, a single business entity may require only one registration. As and when the business is dissolved, the registration is also revoked or surrendered.

Life Time Validity

IEC registration is permanent registration which is valid for life time. Hence there will be no hassles for updating, filing and renewal the IEC registration. It is valid till the business exists or the registration is not revoked or surrendered.

Benefits of Schemes

IEC code has huge benefit for importers as well as exporters. The registered business entities would be able to avail benefits in form of subsidies or otherwise declared by the Customs, Export Promotion Council or other authorities. After filing LUT under GST, the exporters can make exports without payment of taxes. In case the exports are made with payment of taxes, the exporter is able to claim refunds of the amount paid as tax.

No Compliance

Unlike other tax registrations, the importer or exporter does not require to fulfil any specific compliance requirement such as Annual Filings or return filings. The code possesses no need of compliance after registration.

No Annual Maintenance

As there is no compliance listed, there is no requirement of annual maintenance fees to be paid after obtaining this code. There is no requirement of filings or renewal of the registration for each Financial Year or otherwise.

Legally Clean

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.

Reduces the risk of Illegal transportation

IEC helps to eradicate the illegal transportation or illegal exports and imports. The centralised registration helps the officials to supervise and better administer the transactions undertaken as a part of cross border business. The accountability of prohibited or restricted transactions is apportioned well.

Conclusion

Obtaining Importer Exporter Code is mandatory before commencing activities of Import or Export. Unless one has obtained this registration, the goods or specified services cannot be imported into or exported from India. The applicant engaging into exports is also required to get registered under GST as specific category of registration is specified under the law. The necessity of IEC registration cannot be neglected as it is mandatory in nature.