{"id":29000,"date":"2021-04-15T14:26:10","date_gmt":"2021-04-15T08:56:10","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=29000"},"modified":"2025-01-06T18:06:00","modified_gmt":"2025-01-06T12:36:00","slug":"can-one-iec-code-be-used-for-two-businesses","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/","title":{"rendered":"Can One IEC Code be Used for Two Businesses?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">IEC Code is a unique ten digits number issued by the DGFT \u2013 Directorate General of Foreign Trade, which is a Ministry of Commerce and Government of India to the Indian Companies. There are several procedures and laws which should be followed before starting up with businesses globally, and IEC (Import Export Code) is one such prerequisite which is to be mandatorily followed and obtain its registration and license. IEC (Import Export Code) license is mandatorily required for the business enterprises involved in importing or exporting from India. IEC is also known as Importer- Exporter Code.&nbsp;&nbsp;In this article we shall give answer to the question that most importers and exporters are curious to know that whether one IEC Code be used for two businesses or separate IEC Code will be required for each business. Continue reading to know more.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#What_is_the_Benefit_of_Obtaining_One_IEC_Registration\" >What is the Benefit of\nObtaining One IEC Registration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#Can_we_Use_One_IEC_for_Two_Businesses\" >Can we Use One IEC for Two\nBusinesses?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#What_is_the_Requirement_of_IEC_code\" >What is the Requirement of IEC\ncode?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#Steps_for_Obtaining_IEC_Registration\" >Steps for Obtaining IEC Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#Documents_Required_for_IEC_Registration\" >Documents Required for IEC\nRegistration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#Cases_where_Import_Export_Code_IEC_is_not_Mandatory\" >Cases where Import Export Code\n(IEC) is not Mandatory<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/can-one-iec-code-be-used-for-two-businesses\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Benefit_of_Obtaining_One_IEC_Registration\"><\/span>What is the Benefit of\nObtaining One IEC Registration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>Few of the benefits on registering with IEC are given below:-<\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Expansion of Business<\/h3>\n\n\n\n<p>Just because IEC is required for taking services or product to the global market, hence, <a href=\"https:\/\/corpbiz.io\/iec-registration\" title=\"IEC Code Registration\"><strong>IEC registration<\/strong><\/a> can be a major factor behind the growth of businesses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Availing Several Benefits<\/h3>\n\n\n\n<p>IEC registration provides several benefits to the Companies\nin their imports and exports process. As the Export Promotion Council, DGFT,\nCustoms, etc., comes with different schemes beneficial for these dealers in\nexporting and importing goods but for that compliance with IEC registration\nshould be must.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">No Filling of Returns<\/h3>\n\n\n\n<p>After allotment of IEC, it is not required to comply\nwith any process for maintaining its validity. Hence, it is not mandatory in\nthe IEC to file any returns. There is no requirement for filing any returns\nwith DGFT even for the transactions of export.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Easy Processing<\/h3>\n\n\n\n<p>Obtaining one IEC code from the DGFT is an easy\nprocess and it can be recieved within a time period of 10-15 days after\nsubmission of the application and there is no need to give proof regarding any import\nor export for obtaining IEC code.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">No Need for Renewal<\/h3>\n\n\n\n<p>IEC code has a lifetime effective validity and does not require any renewal. Once it is recieved, it can be used by any business entity for all the export and import transactions.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/guide-to-raise-iec-certification-for-a-partnership-firm\/\">Step by Step Guide to Raise IEC Certification for a Partnership Firm<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_we_Use_One_IEC_for_Two_Businesses\"><\/span>Can we Use One IEC for Two\nBusinesses?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If a business dealer is planning to register its\ncompany with the DGFT for dealing with import and export then registration for one\nIEC code is a pre-requisite necessary condition. But there are many businesses\ndealing with the import and export who keeps on enquiring if every business firm\nneeds to apply for separate IEC.<\/p>\n\n\n\n<p>While applying for obtaining registration under IEC,\nthe IEC is linked with the user\u2019s PAN card. Hence, there is no need for\nseparate IEC registration in case any person is starting up with more than one\nproprietorship firm.&nbsp;If the person has already registered its business\nunder one IEC code and it is linked with his PAN card then if he further plans\nto start with a second business, in such a case he can continue with his already\nexisting one IEC code which he previously obtained.<\/p>\n\n\n\n<p>If the person has obtained more than one IEC under one\nPAN for his different businesses then he will have to apply for cancellation of\nthe same.&nbsp; Only one IEC code can be issued against a single\nPAN and multiple IECs issued against a single PAN shall be suo-moto deactivated.<\/p>\n\n\n\n<p>Accordingly,\nall the importers and exporters with multiple IECs against a single PAN can\nchoose to retain any one IEC code and is obligated to surrender all other IECs\nto the concerned authorities for cancellation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Requirement_of_IEC_code\"><\/span>What is the Requirement of IEC\ncode?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em> IEC is required for various purposes, the given below are some major purposes for its requirement: <\/em><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" width=\"1000\" height=\"474\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/What-is-the-Requirement-of-IEC-code.png\" alt=\"Requirement of IEC code\" class=\"wp-image-29009\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/What-is-the-Requirement-of-IEC-code.png 1000w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/What-is-the-Requirement-of-IEC-code-300x142.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/What-is-the-Requirement-of-IEC-code-768x364.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Steps_for_Obtaining_IEC_Registration\"><\/span>Steps for Obtaining IEC Registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>The following steps should be mandatorily complied with for obtaining IEC code registration:-<\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: Application Form<\/h3>\n\n\n\n<p>First, for an online application an application form\nshall be prepared in the prescribed format \u2013 Aayaat Niryaat Form ANF-2A format\nand it should be filed with the concerned Regional office of DGFT.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Prepare Documents<\/h3>\n\n\n\n<p>Secondly, prepare the necessary documents for obtaining the IEC registration and documents should be with reference to the person\u2019s identity, address proof, legal entity, contact details and with <em><strong>bank<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Bank\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> details &amp; the certificate in respect of ANF2A.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 3: Filing Application<\/h3>\n\n\n\n<p>Once the filling up of application is completed, it is required to be filed with DGFT through <strong><a href=\"https:\/\/corpbiz.io\/dsc-registration\" title=\"DSC Registration\">DSC<\/a><\/strong> (Digital Signature Certificate) and then the payment of the required fee for the IEC Registration shall be submitted.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 4: IEC Code<\/h3>\n\n\n\n<p>Finally, after the approval of the application then\nthe IEC Code shall be received in a soft copy from the government.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_for_IEC_Registration\"><\/span>Documents Required for IEC\nRegistration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The documents required for IEC registration if you are\nplanning to start with import and export business are given below:<\/p>\n\n\n\n<ul>\n<li>The\nuser applying shall be required to submit his own or the company\u2019s PAN card.<\/li>\n\n\n\n<li>Aadhaar\ncard, Voter ID and or copy of passport will also be required.<\/li>\n\n\n\n<li>Cancelled\ncheque of current bank account must also be submitted<\/li>\n\n\n\n<li>Utility\nbill or the Rent agreement or of the company<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cases_where_Import_Export_Code_IEC_is_not_Mandatory\"><\/span>Cases where Import Export Code\n(IEC) is not Mandatory<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the circular as has been issued by the government, IEC is not obligatory for all the traders registered under <a href=\"https:\/\/corpbiz.io\/gst-registration\" title=\"GST Registration\"><strong>GST<\/strong><\/a>. Thus, in such cases, the&nbsp;PAN of the trader will be considered as new IEC code for the intention of import and export.<\/p>\n\n\n\n<p>Import and Export done for personal purposes and not\nused for any commercial purpose does not require Code (IEC). Import and export\ndone by the Departments under Government of India and Ministries, Notified\nCharitable institutions is not required to obtain the Import Export Code.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>IEC is\na bouquet of benefits to its holders. As, export plays significant role in the\ngrowth and development of the economy of our nation, this is the reason behind government\nof India constantly providing with different benefits with the purpose to\npromote more export from India.<\/p>\n\n\n\n<p>Thus, for the promotion of export in business and to simplify the process of obtaining IEC registration the regulation of government provides only one IEC Code even for two businesses.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-get-iec-code-in-india\/\">How to obtain IEC Code in India<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IEC Code is a unique ten digits number issued by the DGFT \u2013 Directorate General of Foreign Trade, which is a Ministry of Commerce and Government of India to the Indian Companies. There are several procedures and laws which should be followed before starting up with businesses globally, and IEC (Import Export Code) is one [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":29003,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1666],"acf":{"service_id":"16"},"authorName":"Kandarp Vanita","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/image_2021_02_01T09_09_44_024Z.png","authorDescription":"Kandarp Vanita has done masters in Corporate and Commercial Law from WB National University of Juridical Sciences. She has 3 yrs of experience in drafting legal documents &amp; dissertations. Being a curious reader, she is also passionately into providing legal backups and comprehensive understandings in every aspect of Law to the firms.","postViews":13726,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/29000"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=29000"}],"version-history":[{"count":13,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/29000\/revisions"}],"predecessor-version":[{"id":68204,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/29000\/revisions\/68204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/29003"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=29000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=29000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=29000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}