What Is an Import Export Code (IEC)?
Trade between India and other countries requires IEC registration with the Central Board of Excise and Customs (CBEC). IECs are unique identification numbers assigned to importers and exporters in India.
The following steps will guide you through updating your IEC registration:
- The official website can be accessed by logging in.
- To register, click on the ‘Registrations’ tab.
- From the main menu, select ‘Import/Export’ and then click on ‘Registration Details’.
- The ‘Update IEC Registration Form’ link can be found under ‘Import Export Code (IEC)’ on the ‘Registration Details’ page.
- Submit the form by filling out all fields and clicking on ‘Submit’.
- You will receive an automatic update to your IEC registration as soon as you submit the form.
What are the reasons for updating my Import Export Code (IEC) registration in India?
A company’s imports and exports are tracked by the Customs authorities of different countries using an Import Export Code (IEC). Every company engaging in international trade, whether for goods or services, must have this code. An annual update application must be filed with the Indian Customs in order to keep your IEC registration current. Failure to do so could result in fines and delays in customs clearance.
Maintaining your registration with the IEC has the following benefits:
- A reduction in the amount of time spent on customs documentation
- Customs declarations are more accurate
- International trade is safer with increased safety
The new information you need to fill out
You can meet the expectations of your customers and partners by updating your IEC registration.
In order to update your IEC registration, you must provide the following information:
- Name of your company
- Address of your company
- Phone number for your company
- Email address for your company
- (If applicable) The URL of your company’s website
- What kind of business you are in (import/export)
IEC Registration Certificate Expiration – What to Do?
If your IEC registration certificate has expired, you can either renew it by visiting an IEC authorized agent or sending an application by mail.
Your expired certificate and the renewal application will need to be brought to an IEC authorized agent.
If you wish to renew your certificate by mail, you will need to send in your expired certificate and the renewal application form, along with your full name, date of birth, business name, address, and telephone number.
How can I find out more about Import Export Codes (IEC)?
A registration with the Import Export Code (IEC) is a requirement for doing business in India. The Department of Industrial Policy and Promotion offers a step-by-step guide on how to register your IEC on its official website. Additionally, the website has a searchable database of registered IECs.
Contact the Indian Chamber of Commerce and Industry if you need more assistance than can be found on the internet. They can assist you with registering your IEC and offer other support services.
To update your IEC without any hassle, contact Vakilsearch today.
What is the maximum number of IEC codes allowed in India?
There is a limit of ten IEC codes that can be registered with the Export Promotion Council of India in India. You must submit an application for registration of an IEC code to the Export Promotion Council of India. These codes represent specific export types that India is interested in promoting. Once your code is registered, you can use it to apply for Indian government support and export promotion programs.
You should update your IEC registration if you are an exporter or importer in India. If you do not comply, you may face penalties and restrictions, such as not being able to export certain goods or not being able to import goods. It is time to update your code if it hasn’t been updated in at least two years.