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IEC Registration

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For Import Export Code

Get IEC registered. Online IEC Registration in India is compulsory if you wish to export or import. Prices starting at INR 3,499/- only.

 
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Import Export Code Registration

All you need to know

All businesses which are engaged in Import and Export of goods compulsorily require Import Export Code / IEC Registration.

What is Import Export Code?

Import Export Code  (in short IEC Code) is a ten digit number with permanent validity granted by Directorate General of Foreign Trade under Ministry  of Commerce and Industry, to any bonafide person/ company for carrying out import/export. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.

When will there be requirement of IE code?

At following instances the IE Code would be required:

  • When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
  • When an importer sends money abroad through banks then it’s needed by the bank.
  • When an exporter has to send his shipments then it’s needed by the customs port.
  • When an exporter receives money in foreign currency directly into his bank account then submission of IEC is required by the bank.

IEC registration Import Export Code IEC License IEC registration Ebizfiling

One doesn’t need to be a registered entity to apply for import export code; you can apply even as an individual. IEC Certificate is also known as Export License, Import License, IE Code, IEC code, EXIM License. All have the same meaning.

Important Note: As per the recent notification from the DGFT, One needs to renew / update the IEC License every year during April to June.

Thinkbiz Filings is a group of intellectuals. The entire team of Thinkbiz Filings consists of Highly qualified CA, CS, Lawyers and business administrators. Thinkbiz Filings  would be a one stop destination for your Import Export code registration registration in Hyderabad. We also provide services like Start up advisory, Secretarial compliance services, PAN / TAN application, DIN registration, GST registration, Trademark registration, GST / Income tax return filing and many more. You may get in touch with our compliance manager on 09704561215or email info@Thinkbizfilings.com  for for free consultation and to know more about the services provided by us.

Import Export License Fees

Choose Your Package
Our Pricing
3,499/-
(all inclusive)

BASIC

  • Import Export Code
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Our Pricing
4,999/-
(all inclusive)

OPTIMAL

  • Import Export Code
  • Digital Signature Class 3 Individual having 2 Years Validity
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Our Pricing
5,999/-
(all inclusive)

ULTIMATE

  • Import Export Code
  • Digital Signature Class 3 Individual having 2 Years Validity
  • GST Registration
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Compliance Requirements for a Partnership Firm

Income Tax Return

    Partnership firms must file annual tax returns. The due date is 31st July for non-audit cases and 30th September for audited firms. Timely filing ensures compliance, avoids penalties, and maintains legal standing.

    GST Compliances

      Partnership firms must register for GST if turnover exceeds the prescribed threshold. Regular GST return filing is mandatory to ensure compliance, avoid penalties, and maintain smooth business operations under GST laws.

      TDS Compliance

        Partnership firms must deduct and deposit Tax Deducted at Source (TDS) if liable under the Income Tax Act. Timely filing of TDS returns ensures compliance, avoids penalties, and maintains smooth financial operations.

        Accounting

          firms must maintain proper books of accounts reflecting an accurate and fair view of financial affairs. Each partner’s capital, withdrawals and profit share should be recorded separately to ensure transparency

          Tax Audit (if applicable)

            Required for partnership firms if business turnover exceeds ₹1 Cr or professional receipts surpass ₹50 Lakh under Section 44AB, ensuring regulatory compliance and accurate financial reporting.

            Firm Updates

              Partnerships must file updates on any changes in firm structure, such as partner additions, removals, or modifications to the partnership deed, ensuring legal compliance and transparency.

              Documents Required for Partnership Firms

              Quick Checklist

              • PAN card of all partners of the firm.
              • Aadhaar/Passport/Voter ID/Driving License of all partners.
              • Latest utility bill, rent agreement, or ownership proof of the firm’s office.
              • Latest bank statements of partners.
              • Recent photos of all partners.

              Key Benefits of a Partnership Firm

              Points to make your decision easy

              Ease of Formation

                Partnership firms have a straightforward registration process with minimal legal formalities, making them easy and cost-effective to establish.

                Tax Benefits

                  Partnership firms avoid double taxation, as profits are taxed only at the firm’s level and not again in the hands of partners, ensuring tax efficiency.

                  Lower Compliance

                    Partnership have fewer regulatory requirements and legal formalities compared to corporations, reducing administrative burdens and operational costs.

                    Decision-Making

                      Partnership firms enable quick decisions without extensive regulatory approvals, allowing for agile business operations and faster implementation of strategies.

                      Profit Sharing

                        Partners can distribute profits as per the agreed ratio in the partnership deed, allowing flexibility and mutual benefit in financial management.

                        No Minimum Capital

                          Partnership firms have no minimum capital requirement and can be registered even with Rs. 10,000 as total capital, providing flexibility in business setup.

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                          FAQs On IEC Registration
                          Get answers to all your queries
                          What is an Import Export Code (IEC)?
                          • The Import Export Code (IEC) is a 10-digit unique code issued by the Directorate General of Foreign Trade (DGFT), required for businesses engaged in importing or exporting goods and services from India.
                          Who needs IEC registration?
                          • IEC is mandatory for: Any individual, business, or company involved in international trade (import/export). Businesses seeking government benefits like duty exemptions under export promotion schemes.
                          Is IEC required for service exports?
                          • IEC is not required for service exports, except when the service provider is availing benefits under Foreign Trade Policy (FTP).
                          What is the validity of IEC?
                          • IEC is valid for a lifetime, but it must be updated annually on the DGFT portal.
                          What is the fee for IEC registration?
                          • There exists no bar on turnover or capital in private Limited Company unlike One person Company.
                          How can I apply for an IEC?
                          • Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe plus), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
                          What documents are required for IEC registration?
                          • Minimum two directors are required to incorporate a private limited company. Companies Act, 2013, has introduced the concept of One Person Company (OPC) private limited, in which a single individual can start a private limited company. Thus, if you plan to incorporate OPC, you can incorporate it with only one director.
                          Can IEC be modified or updated?
                          • Yes, IEC details like business address, bank details, and contact information can be updated through the DGFT portal.
                          Can IEC be surrendered or canceled?
                          • Yes, if the business no longer requires the IEC, it can be surrendered online via the DGFT portal.
                          What happens if IEC is not updated annually?
                          • If IEC is not updated by June 30 of each year, it becomes inactive until updated. Let me know if you need assistance with IEC registration or renewal!
                          Have some queries?
                          • Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@thinkbizfiling.com or call us @+91 970 456 1215

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