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Obtaining IEC Number

Authorities (obtaining IEC Code Number) The Customs Authorities will not allow you to import or export goods into or from India unless you hold a valid IEC number. For obtaining IEC number you should apply to Regional Licensing Authority (list given in Appendix 2) in duplicate in the prescribed form given in Appendix 1. Before applying for IEC number it is necessary to open a bank account in the name of your company / firm with any commercial bank authorised to deal in foreign exchange.
The duly signed application form should be supported by the following documents:

  • Bank Receipt (in duplicates)/ Demand Draft for payment of the fee of Rs. 1,000/-.

  • Certificate from the Banker of the applicant firm as per Annexure 1 to the form given in Appendix 1 of this Book.

  • Two copies of Passport size photographs of the applicant duly attested by the banker to the applicants.

  • A copy of Permanent Account Number issued by Income Tax Authorities. If PAN has not been allotted, a copy of application of PAN submitted to Income Tax Authorities.

  • In case the application is signed by an authorised signatory, a copy of the letter of legal authority may be furnished.

  • If there is any non-resident interest in the firm and NRI investment is to be made with repatriation benefits, a simple declaration indicating whether it is held with the general/specific permission of the RBI on the letter head of the firm should be furnished. In case of specific approval, a copy may also be furnished.

  • Declaration by the applicant that the proprietors/partners/directors of the applicant firm/company, as the case may be, are not associated as proprietor/partners/directors with any other firm/company which has been caution-listed by the RBI. Where the applicant is so associated with a caution-listed firm/company the IEC No. is allotted with a condition that he can export only with the prior approval of the RBI.

  • Declaration by the applicant that the proprietors/partners/directors of the applicant firm/company, as the case may be, are not associated as proprietor/partners/directors with any other firm/company which has been caution-listed by the RBI. Where the applicant is so associated with a caution-listed firm/company the IEC No. is allotted with a condition that he can export only with the prior approval of the RBI.

Formailites

For clearance of export goods, the exporter or his agents have to undertake the following formalities:-
  • The exporters have to obtain PAN based Business Identification Number(BIN) from the Directorate General of Foreign Trade prior to filing of shipping bill for clearance of export goods

  • The exporters are also required to register authorised foreign exchange dealer code (through which export proceeds are expected to be realised) and open a current account in the designated bank for credit of any drawback incentive.

  • Whenever a new Airline, Shipping Line, Steamer Agent, port or airport comes into operation, they are required to be registered into the Customs System.

  • The exporters intending to export under the export promotion scheme need to get their licences/DEEC book etc, registered at the Customs Station.