What is Importer-Exporter Code? How is it obtained ?

CS Executive · Economic, Business and Commercial Laws · PYQS · June 2022
What is Importer-Exporter Code? How is it obtained ?

Answer & Explanation:

An Exporter Importer Code (IEC) is a 10-digit number allotted to a person that is mandatory for undertaking any export / import activities. Now the facility for IEC in electronic form or e-IEC has also been operationalised. No export/import shall be made by any person without obtaining IEC number unless specifically exempted. The procedure to obtain IEC is following: Application for obtaining IEC can be filed manually and submitting the form in the office of Regional Authority (RA) of DGFT. Alternatively, Exporters/Importers shall file an application in ANF 2A Format for grant of e-IEC. Those who have digital signatures can sign and submit the application online along with the requisite documents. Others may take a printout of the application, sign the undertaking declaration, upload the same with other requisite documents and thereafter submit the signed copy of the online application form to concerned jurisdictional Regional Authorities (RA) either through post or by hand. Deficiency in the application form has to be removed by re-logging onto 'Online IEC application on DGFT website and filling the form again by paying the requisite application processing charge. When an e-IEC is approved by the competent authority, applicant is informed through e-mail that a computer-generated e-IEC is available on the DGFT website. By clicking on 'Application Status' having filled and submitted the requisite details in 'Online IEC Application webpage, applicant can view and print his e-IEC. Briefly, following are the requisite details/documents (scanned copies) to be submitted/uploaded along with application for IEC; Details of the entity seeking the IEC: PAN of the business entity in whose name Import/Export would be done (Applicant individual in case of Proprietorship firms). Address Proof of the applicant entity. LLPIN/CIN/Registration Certification Number (whichever is applicable). Bank account details of the entity. Cancelled Cheque bearing entity's pre-printed name or Bank certificate in prescribed format ANF 2A (I). Details of the Proprietor/ Partners/ Directors/ Secretary or Chief Executive of the Society/ Managing Trustee of the entity: PAN (for all categories) DIN/DPIN (in case of Company (LLP firm) Details of the signatory applicant: Identity proof PAN Digital photograph In case the applicant has digital signature, the application can also be submitted online and no physical application or document is required. In case the applicant does not possess digital signature, a print out of the application filed online duly signed by the applicant has to be submitted to the concerned jurisdictional RA, in person or by post.

Topics: Business Laws

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