Import Export Code (IEC) Registration

IES Registration is needed by a person for carrying out the exportation and importation of goods. It is basically a 10 digit code which is issued by the Directorate General of Foreign Trade. All the businesses which are occupied in the Import and Export of goods require the registering of the Import export Code. IE code consists of a lifetime validity. Importers are not sanctioned to proceed abdicating this code and exporters can’t take the advantages of exports from DGFT, customs, Export Promotion Council, in case if they don’t have possess the code.

The IE code must be mandatorily quoted by importers while clearing the customs. Simultaneously banks require the importers IE Code while transferring the money abroad. For exporters IE Code must be quoted while sending the shipments. And the banks require the exporters IE Code while procuring money from abroad. Import and Export Code registration can be conveniently done through TaxoVita.

IE Code Exemption

An Import Export Code is required for import of any type of goods by a business. However, the following are category of persons are exempted from obtaining an IE Code:

Importer and export by central government or agencies or undertakings for defense purpose or other specified list under Foreign Trade (exemption from application of rules in certain cases) Order, 1993.

Import or Export of Goods for personal use.

RCMC Registration

Persons having import export code can apply for and obtain RCMC registration. Registration-Cum-Membership Certificate (RCMC) is a certificate that validates an exporter dealing with products registered with an agency/ organization that are authorised by the Indian Government. The certificate is issued for five years by the Export Promotional Councils or commodity board in India. An exporter desiring to obtain an RCMC has to declare his mainstream business in the application. This application would be submitted to the Export Promotion Council/ Commodity Board relating to that line of business.