Yes, one person company get an import/export code. The abbreviation of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export, as well as import, must be made by any person. It is not a hard process but an easy process to obtain IEC Code from the DGFT within a time span of 10-15 days after the submission of the application. After the IEC Code is obtained, the code is used for the purpose of import as well as export. The validity of IEC Code remains for its lifetime unless and until one’s canceled it. An Importer Exporter Code is mandatory for the export as well as import of goods. IEC Code is necessary for those who wants to start their import/export business. The IEC Code is issued by the DGFT and it is a 10-digit code that has validity for lifetime. The IEC Code is compulsory only for the purpose of commercial and business.
The applicant must fill the IEC Registration form and make payment. Otherwise, the applicant can also send their documents at firstname.lastname@example.org.
With the introduction of GST, IEC Code is issued is the same as the PAN of the firm. The IEC Code is applied on behalf of a firm that may be a Partnership, LLP, Limited Company, Proprietorship, Trust, HUF. The firm should have a PAN, bank account in the name of the firm along with the valid address before getting applied.
The applicant can obtain the Import Export Code through the following ways:
- One should fill the online application form.
- Should upload the required documents.
- Must make an online payment.
- Then, the IEC expert will call the applicant to process his/her application.
- Finally, receive his/her certificate via mail.
The following documents needed for IEC Registration are:
- Individual’s or Company’s copy of PAN Card.
- Voter id or Aadhar Card or a copy of the Passport of the applicant.
- Applicant’s or company’s cancel cheque copy of current bank account.
- A self-addressed envelope for delivery of the IEC Certificate by registered post.
- A copy of the Rent Agreement or an Electricity Bill copy of the premise.
According to the new circular announced by the government, IEC is not compulsory for all the traders who have registered themselves under the GST. In that case, the PAN of the traders will be regarded as the new IEC Code for the Import-Export purpose.