Every person who intends to import or export should possess an IEC Code, Importer Exporter Code, without which, that person is not entitled to trade in India. This IEC Code is basically a 10 digit code issued to Indian Companies by the DGFT which stands for Directorate General of Foreign Trade, under Ministry of Commerce, Government of India.
The IEC code has to be applied for, if a person wants to import or export. Before applying for an IEC Code, the individual has to first confirm whether he conforms to the eligibility criteria and specifications that are given Foreign Trade Regulation Rules 1993 set by DGFT India, Ministry Of Commerce, Notification no. GSR 791, though there are many other procedures to be followed. The application for grant of IEC Code has then to be made by the Registered Office, in case of a company, otherwise Head Office to the nearest Regional Authority of Directorate General Foreign Trade, DGFT and should be accompanied by the essential documents. Only 1 IEC code is issued against 1 PAN number. Any person possessing IEC codes more than 1, the same have to be surrendered to the Regional Office for cancellation.
The Application Form can be downloaded in the form of PDF or MS Word, often called as ANF2A. It is very important to submit Appendix 18 B, along with IEC Code Application Form, which should be attested by Applicant’s Banker in a letter head and 2 passport sized photographs. The IEC Code allotted should be valid for all the branches or divisions or factories of the allotted as given in the format of Appendix 18 B. An application can be filed online in DGFT website. An incomplete application is liable to be rejected giving specific reasons for rejection. However in the case of manual applications, the applicant will have to furnish a soft copy of the application in MS word format. The Application fee is Rs. 250. The payment can be made either by a demand draft or a pay order from a designated bank in the favour of the Zonal DGFT like DGFT Delhi or through electronic fund transfer as nominated by DGFT India like HDFC, ICICI Bank, SBI etc. An importer or exporter is required to furnish his profile details with the Regional Authority in Part 1 of ANF2A.
After filing the details, the applicant needs to furnish a self addressed envelope of 40 x 15 cm with a postal stamp affixed on the envelope along with all documents and are required to be sent by Speed Post. Every application, unless and until otherwise specified, has to be be submitted to the Regional Authority of Directorate General Foreign Trade, example being DGFT Delhi. If an IEC Code gets lost or misplaced, then a duplicate copy of the IEC Code has to be applied for.
Jayden William is an expert author who has written many articles on International Trade and Business. He is providing useful information on DGFT and DGFT India.