In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. However, doing business globally isn’t just a cup of tea for everyone. Before going global, you need to follow several procedures and laws in place and get different registration and license. IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing or exporting from India. It is also known as Importer- Exporter Code.
IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code which has lifetime validity. Predominantly importers merchant cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc. without IEC.
Step 1: Application Form
First, you need to prepare an application form in the specified format – Aayaat Niryaat Form ANF-2A format and file it with the respective Regional office of DGFT.
Step 2: Documents
Secondly, you need to prepare the required documents with respect to your identity & legal entity and address proof with your bank details & the certificate in respect of ANF2A.
Step 3: Filing Application
Once your application is completed, you need to file with DGFT via DSC (Digital Signature Certificate) and pay the required fee for the IEC Registration.
Step 4: IEC Code
Finally, once your application is approved then you would receive the IEC Code in a soft copy from the government.
Documents required by different entities for IEC (Import Export Code) Registration
No Need For renewal – IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.
The MSME Registration can be obtained by applying only on the Udyam portal. There are no fees charged for filling and submitting the MSME registration form. The MSME registration is totally free on the Udyam portal.
After submitting the MSME registration form online, a message of successful registration with a reference number will appear. The Ministry of MSME will issue the Udyam Registration certificate or MSME certificate to the email ID of the entrepreneur after verification of the registration form submitted on the portal.
The entrepreneurs can also download the MSME certificate online by visiting the Udyam Registration portal. The process to get the MSME registration certificate online is as follows:
The MSME registration certificate will appear and you can print the MSME registration certificate from the page. An entrepreneur can check the MSME registration number from the reference number given after the submission of the MSME registration form.
For getting the MSME registration number, an entrepreneur needs to click on the ‘Verify Udyam Registration Number’ option under the ‘Print/Verify’ tab on the homepage. A new page will open and the entrepreneurs have to enter the reference number, captcha code and click on ‘Verify’ button. The details of the MSME along with the MSME registration number will appear on the screen.
Advantages of MSME Registration