How to Link GST with IEC? - Bizfoc

Overview 

Goods and Services Tax (GST) is an important registration which enables businesses to collect the tax on behalf of the government. This registration is necessary to ensure whether business is able to avail input tax credit for the taxes paid on their purchases. On the other hand, IEC registration is the 10-digit alphanumeric number which is used to identify the business for trading the goods internationally. 

On consolidating the GSTIN with IEC registration together, you will easily get the track of your consignment shipment. This linking of GSTIN and IEC is important to make consignment transported to the international market. Every business planning to export from India must obtain both the Goods and Services Tax (GST) and the Import Export Code (IEC), essential licenses. Businesses of all sizes must connect their GST with their IEC on the ICEGATE portal to get access with schemes. If you also want to link your profile from GST and IEC, then this blog is right for you. In this blog, we will provide you complete insights on how to link GST with IEC registration and its related benefit and reason to link both the registration. 

Importance of Linking GST with IEC 

Here is the importance of linking GST with IEC registration, which are as follows:

• Ensure compliance and Regulatory Requirements

On linking GST with IEC registration, you will stay compliant and ensure that your goods on port shall not remain there. This linking ensures that it reduces fraudulent claims, with accurate tax reporting and streamlining regulatory compliance. 

• Simplifying Custom Procedures 

This linking between GST and IEC registration automates the data sharing with customs and tax authorities. This will benefit both tax authorities and businesses whether their consignment has taken place from port or not. 

• Helps to Leverage Various Export Import Schemes

Due to linking between export import schemes, the user will be able to get various benefits and easily claim such benefits such as duty drawback, exemptions under Export Promotion Capital Goods (EPCG) schemes and refund of GST. 

Benefits of Linking GST with IEC

Here is the benefits of Linking GST with IEC registration, which are as follows:

• Integration important Documents

By linking GST with IEC license, businesses who are willing to trade internationally can facilitate data exchange easily between GST and customs systems, making the trade processes better and reducing administrative burden.

• Compliance with regulatory requirements:

This linking ensures regulatory requirements related to cross-border trade, which includes eligibility criteria for export-import schemes and tax responsibilities. 

• Ensure simplified documents 

 Linking GST with the IEC code reduces the need for paperwork and documentation. This made the process easy and hassles with cross-border transactions.

• Enhanced transparency

The linkage increases transparency in trade transactions. By ensuring that accurate and up-to-date information is maintained across systems between user and authority. This builds trust for stakeholders and regulates efficient interactions in the international trade landscape.

How to Link GST with IEC License?

Here is the step-by-step procedures on linking GST with IEC registration:

Step 1: Visit the ICEGATE Portal

For linking the GSTIN with IEC registration, you need to visit the DGFT portal. This DGFT portal is custom related interactions in India that resolves custom related issues including import export. ṣ

Step 2: Click on IEC GSTIN Registration 

The IEC GSTIN Mapping functionality is available under ICEGATE Services on ICEGATE home page. Click on Simplified User Registration Tab to Map IEC and GSTIN in Custom. 

Step 3: Enter the Login Credentials 

After opening the details, you will see to enter the login credentials. This will include Username, Password and RECAPTCHA code. 

Step 4: Enter your ICEGATE ID

Further there is an option to fill ICEGATE ID and then you need to fill your concerned ICEGATE ID with what you want to login into. 

Step 5: Receive one time OTP 

On entering the ICEGATE ID, the OTP will be generated. Make sure your GST is registered with the registered mobile number as the OTP will be received on the registered mobile number of GST registration. 

Step 6: Click to authenticate the Linking Process 

Enter the OTP received on your mobile number and fill the OTP in a particular field and click on the submit button to verify the linking process.

Seek Guidance to Professional Experts

Before proceeding to process to link your GST with IEC, you need seek professional guidance such as:

• Utilise Online resources:

If you want to link GST and IEC registration together, you need to utilize online resources. These online resources include government authorities, such as user guides to link your IEC with GST. This online utilisation of GST with IEC can’t be done by own and needs some guidance to any doubts and provide step by step procedures for completing the procedure. 

• Professional Guidance

You can even encounter any complexities during the linking process of GST and IEC, supposing seeking assistance from professionals with better expertise in GST and international trade regulations. They can provide guidance to your particular needs and ensure smooth completion

Conclusion 

Linking the GST with IEC registration helps the business to get the updates regarding their consignment to ship them internationally. Whether you’re new to this trading or an existing one, make sure your GST IN and IEC license is linked in order to ensure smooth compliance and follow simple procedures to link both documents together. Also, you have to be careful about whether you should seek certain tutorials, government portals guidance (that are posted online) or some professional guidance. 

Frequently Asked Questions 

1) Is DSC mandatory for ICEGATE?

Yes, DSC is mandatory for the ICEGATE portal. 

2) What is the full form of ICEGATE?

The full form of ICEGATE is Indian Customs Electronic Data Interchange Gateway. 

3) Who can register to ICEGATE?

Custom brokers, IEC holders, shipping agents and Console Agents register to ICEGATE.

4) Why do we need ICEGATE? 

ICEGATE is required for filing custom related documents online.