How Many Days Does It Take To Get An Export License In India?
Starting a business in India requires diverse requirements to be met. This will vary from obtaining government approval to organize funds to have the necessary licenses to operate. If you plan to start an import, export business in India, then you must first get the import-export license or license to import or export from the government of India. Registration plays an important part in ensuring this.
Once the license is approved you will be given an Import Export Code (IEC), which is a 10-digit code. The code is provided by the Directorate General of Foreign Trade (DGFT).DGFT is a part of the Ministry of Commerce and Industry. If you want to run a smooth import and export business in India then this license is needed.
Steps to Get Import Export License
The following steps will guide you through the full Import-Export code process:-
One of the first items to remember is that you ought to pick the product you want to export. You will receive the IEC for the category of products you've applied for.
The next thing that you need to consider is the name of the business. The name of the business will end with Exports.
You must also register your company or partnership firm if you have not yet registered
You should apply for IEC only, and you have to pay a fee of Rs. 250.
You will then go to EDC Registration, i.e. sign the business with the nearest airport or seaport.
Online Application for IEC
First, you need to prepare an application form Aayaat Niryaat Form no. 2A format and file it with the respective Regional Office of DGFT.
Collect all required documents and have digital copies of the same before you start the online application process.
Log on to the official portal and submit the form for registering the firm.
You 'd need your PAN number for this to continue. You will be redirected after entering the PAN number to either create a new IEC Application or open an existing one.
After you have entered the IEC Master Document, you may need to fill in other information such as location, PAN details, bank account, business formation date, and other information. Once all the details have been filled in, you'll be directed to make the payment. Here you would have to pay an Rs. 250 fee. This payment is made through designated banks online.
You will next have to access all the documents relating to your IEC submission upon payment of fees.
Once the documents have been successfully uploaded and the form completed, you can print the completed IEC form and submit it to the DGFT office which includes your address. Once the documents have been submitted, you will receive a screen with your Ecom Ref. number along with your company name and the DGFT office where your application has been submitted for processing.
With these few steps, you'll be able to easily complete the IEC application online, and you'll get the IEC code.
Documents required for IEC Application
Permanent Account Number (PAN) Card or Company’s Permanent Account Number Card.
Photograph of the applicant.
Copy of Voter ID Card / Driving License / Passport (first and last page) / Aadhar Card (any of these).
Certificate of Incorporation which is issued by Registrar of Companies (RoC).
Sale deed if the premise is owned by himself or on a Rental / Lease basis.
Copy of the canceled check from the current account of the business (Name of the company and Account Number must be pre-printed ) – GIF Format. Or Bank
Certificate as per ANF 2A(I) (PDF).
Several Benefits of IEC Registration
There is no need for the renewal of the Import Export Code (IEC).
No document or proof require for getting the IEC code.
The companies dealing with import-export work could get several benefits through DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.
IEC helps you to expand your business and take it to the global market.
If you have an IEC code than there is no need of filing any returns with DGFT.
It only takes 10 to 15 days to get the IEC code after submitting the application form.
FAQs on Import Export License
How much time does it take to get the export license?
It takes 3 days to one week for the license to be issued.
Is it necessary to have an IEC license?
Yes, for any business to seamlessly do export, they need to have the IEC license.
Who issues the IEC license in India?
The IEC license is issued by DGFT or the Directorate General of Foreign Trade.
what is an export promotion council?
Export promotion is an initiative taken by government of India to promote the export work and provide several benefits to the company which deals with export works.
If you have all the documents like address proof, copy of pan card, and you filled out the right application forms then it would take 3 working days to one week to grant the license.
With us, it is possible in no time. Our portal has a single-window system for problem-free IEC license registration online. If you face any kind of problems regarding form submission then you can contact us @e-registration.co.in.
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