There are many people who look for the process of how to apply IEC online. IEC or Import Export Code is a 10-digit number issued by the Government of India. This code/licence is compulsory for any kind of import or export in and out of India. After the introduction of GST in the country, this number is the same as the PAN card number of the company. Still, it is essential, rather compulsory, to register for IEC for foreign trade. The process can be done offline through local offices and online via government websites.
As the Directorate General of Foreign Trade gives this code from the Ministry of Commerce and Industry of India, it is better and recommended to register through the official website of the government. The first things that come when you look for how to apply for IEC online include the following.
- An email.
- A number.
- A PAN
card.
- A bank account (in the name of the company).
- A valid address for
the registration.
While applying for the code, it is crucial to meet the needs of the licence and read all the rules and regulations carefully as this involves the government, international laws and finance. All the recent updates and notices are published on the above-given website. It is good to stay updated about these things.
After registering the email and mobile number, they will be verified through OTPs shared on the respected emails and numbers. This process doesn’t take up much time. After this, the primary method of filling in the information and verifying the documents occurs. The nature of the firm is a compulsory question, in which there are following options: Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society, and is to be filled accordingly. The verification of the documents is done in various ways. For example, the proof of the address is done, even local officers visit the site, if necessary.
These verifications can take time according to the complexity of the process. Every detail must be filled with the utmost care, as it appears on the firm’s record. If the information is to be changed or the validity of the licence expires, the right should be updated/renewed through the same website. This process can be achieved by clicking on the ‘Update IEC’ button on the homepage.
Import and export require special permissions as international laws apply to the trade. So, It is essential to stay updated as these rules and regulations tend to change constantly due to the large number of parties involved when you apply for IEC online.
Also read: How to Export Spices from India with Amazon?
