Import and Export Code is required by everyone who is about to start their business in country. This Code has been issues by Director General of Foreign Trade, Department of Commerce, Government of India. Import Export Code is a unique ten-digit code which is valid for entire life. Importers and exporters are neither able to take benefits provided by Director General of Foreign Trade (DGFT) related to Import Export Code nor they can import or export goods without the code.
When an importer needs to import particular goods or to clear his shipments from customs, then Import Export code is needed by the customs authorities.
When an importer sends money to foreign countries through banks, then it is needed by the Bank officials.
When an exporter exports his shipment through custom then, Import Export code is needed by the customs authorities.
When an exporter has to receive money may be in form of foreign currency in the bank, then it is needed by Bank officials.
Import Export code is not mandatory for all the traders who has done their registration under Goods & Services Tax. Basically, the Pan number of the trader is construed as his Import export code which works to fulfil the purpose of import and export.
If the goods are being imported or exported for an individual’s personal purpose or for any commercial purpose, then it is not necessary to take Import Export code.
Government of India, Departments, Ministries and Charitable institutions does not need to obtain Import Export code for any import or export of goods.
File an application form in prescribed format- Ayat Niryat Form 2A at the regional office of Director General of Foreign Trade.
Submit all the necessary documents required for registration which includes identity proof, legal entity, address proof and bank details along with the ANF 2A certificate.
After the completion of the application, also complete the procedure of filing with DGFT by digital signature Certificate along with the fees, as prescribed for Import Export code registration.
If application gets approval then the applicant is provided Import Export Code in a soft copy by concerned Government. This is valid for lifetime.
Import Export code helps in expanding the business through global market.
After getting registered for Import Export Code, companies can avail certain benefits for their import or export from DGFT, Customs, Export promotion council.
Neither in general, nor in export activities Import Export code does not require to file returns.
It is one time life process. There is no need to renew its validity.
Process of obtaining Import Export code is easy and quick. After the submission of application it requires 10 to 15 days.
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