What is an IE Code:
IE Code stands for Import Export Code. IE Code number is a unique 10 digit code issued by the DGFT – Director General of Foreign Trade, Ministry of Commerce and Government of India to facilitate import or export in India.
Need for IE code Registration:
IE Code number is authenticated as the primary document by Government of India to identify the person or entity as an importer/exporter.
A Sole Proprietor or Partnership firm or Company which has obtained the IE Code number, are entitled to receive the benefits under various departments. They are eligible to avail benefits on the imports or exports made by them under the departments namely:
– Director General of foreign Trade
– Customs Act
– Export Promotion Council
IE Code registration is Mandatory, in case of:
IE Code number is mandatory for any person or entities like Partnership Firm or Companies, if they make any import or export in India for commercial purposes.
As per law, no person or entity shall make any Import or Export without IE Code number.
Procedure for IE Code registration:
An application for grant of IE Code number shall be made by the applicant to the nearest Regional Authority of Directorate General Foreign Trade (DGFT), along with the prescribed documents and fees. As an acknowledgement of the application, a receipt having “File Number” will be generated and issued to the applicant by the authority of DGFT.
The IE Code application will be then scrutinized by the authority of DGFT and the application may be accepted or declined by the authority, at the end of the scrutiny. The acceptance or rejection will be intimated to the applicant, in the below manner:
– If the application is found with all details in the prescribed form (as required), an IE Code number will be generated by the authority and will be sent by post to the address mentioned in the application.
– If the application is not in the prescribed form with all the details, a deficiency letter will be generated and the same will be sent by post to the applicant to the address mentioned in the application.
Validity of IE Code number:
The IE Code number which is generated and allotted by the DGFT department to the applicant will remain valid to all its branches/divisions/units/factories as indicated in the IE Code application.
IE Code registration – Exempted Categories:
– All Ministries/Departments of the Central Government.
– All Ministries/Departments of the State Government.
– Import or export made by Persons /Institutions / Hospitals for personal use and not connected with commercial purposes such as for trading, manufacturing etc.
– Persons importing/exporting goods from/to Nepal provided the CIF (Cost, insurance and freight) value of a single consignment does not exceed Rs.25,000.
– Persons importing/exporting goods from/to Myanmar through Indo-Myanmar border areas provided the CIF (Cost, insurance and freight) value of a single consignment does not exceed Rs.25,000.
– Persons / Charitable Institutions / Registered NGOs importing goods which are exempted from Customs duty under Notification issued by Ministry of Finance.
– Entities that are authorized by the Reserve Bank of India are entitled to make non-commercial imports and exports.
Issuance of duplicate IE Code number:
Duplicate IE Code number will be issued by the authority of DGFT, if the IE Code number is lost or misplaced. On receipt of the request made by the applicant for duplicate IE Code number, the authority may grant a duplicate IE Code number, if accompanied by an affidavit.
Surrender of IE Code number:
The IE code number shall be surrendered by the IE code holder, if he wishes not to make any import or export. The IE Code holder can surrender the IE Code number by informing the same to the issuing authority. On receipt of the request made by IE Code holder, the issuing authority will cancel the same and he will intimate the cancellation to the Customs and Regional authorities.