IEC BANSWARA (Import Export Code) is a code which is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. It is an essential requirement for a businessman in India who is into a business of import and export. IEC Stands for Import Export Code. No export or import shall be made by any person without an Import Export Code (IEC).
Definition of IEC Code
IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade , Ministry of Commerce, Government of India to Indian Companies.
Directorate General of Foreign Trade(DGFT) issued a Policy Circular No.15 (RE-2006)/2004-2009 Date: 27th July, 2006) for New System for issuance of Importer-Exporter Code Number.
Eligibility, Legal Provisions and Conditions for IEC Code Number
Eligibility condition and Legal Provisions are given for IEC Code Number Application in Foreign Trade (Regulation) Rules, 1993 Ministry of Commerce, Notification No. GSR 791 (E), dated 30-12-1993.
Application for Grant of IEC Number
An application for grant of IEC number shall be made by the Registered/Head Office of the applicant and apply to the nearest Regional Authority of Directorate General Foreign Trade, the Registered office in case of company and Head office in case of others, falls in the ‘Aayaat Niryaat Form - ANF2A’ and shall be accompanied by documents prescribed therein. In case of STPI/ EHTP/ BTP units, the Regional Offices of the DGFT having jurisdiction over the district in which the Registered/ Head Office of the STPI unit is located shall issue or amend the IECs.
Only one IEC would be issued against a single PAN number. Any proprietor can have only one IEC number and in case there are more than one IECs allotted to a proprietor, the same may be surrendered to the Regional Office for cancellation.
Validity of IEC
An IEC number allotted to an applicant shall be valid for all its branches/divisions/units/factories
Duplicate Copy of IEC Number
Where an IEC Number is lost or misplaced, the issuing authority may consider requests for grant of a duplicate copy of IEC number, if accompanied by an affidavit.
Surrender of IEC
If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities.
For Applying Import Export Code in Banswara and nearby cities Kushalgarh, Partapgarh numerous papers and details are required which calls for some Professional legal advice for Import and Export documentation, process and timely guidance. For this following legal advice provided related to IEC:-
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