Exim Code is an Export Import 13 digit code that is used for business purposes. Export Import Code (EXIM Code) is an abbreviation for Export Import Code. The Nepal Government issues Exim Code as a registration certificate. It functions similarly to a passport in the import-export business.
The primary goal of implementing an EXIM Code in any country is to keep an eye on the fraudulent companies responsible for the government’s income leaks. The sale of any goods or services to the international market, i.e. the transfer of products out of the country, is referred to as export.
Signal number with 13 digits (digits). The first nine digits represent the PAN Number. The numbers 10 and 11 are chosen by the company. The twelfth and thirteenth digits are system generated special digits. The two-letter English suffix NP is then added.
The 13 letters in the EXIM Code represent the firm’s registered PAN number (9 letters), 01/02 represents a single ownership (01) or a partnership firm (02), and software generates a special 2-digit unique number. The letter NP at the end of an EXIM Code represents Nepal. The purchase of any goods or services from the international market, i.e. from outside the country, is referred to as import.
Any institution or establishment engaged in the import and export of goods and services, whether manufacturing or trading, must obtain an EXIM Code. Before engaging in a trade, both exporters and importers must obtain an EXIM Code. The Department of Customs issues the EXIM Code. To obtain the EXIM Code, you must submit the following documents to the Department of Customs website’s online portal.
The EXIM Code is required.
An EXIM code is not required to export goods worth up to 25,000 rupees or import goods worth up to five lakhs.) There is no need to obtain an EXIM Code when using it for government bodies, public government NGOs, donations, gifts, and financial purposes.
Application for a Code of Exemption
An application must be submitted in order to obtain an EXIM Code. Tax must be paid before importing or exporting goods or services on the global market.
In the Department of Inland Revenue, the transaction should not be halted. Similarly, an EXIM Code paid up capital of at least 2 million is required for a company importing goods from abroad. If a company intends to only export goods from Nepal, it must have at least Rs. 5 lakh in paid-up capital.
Companies wishing to obtain an EXIM Code must first register with the Department of Commerce or the Department of Industry/Department of Cottage and Small Industries. Download the EXIM Code application form Downloading the form All documents must be properly scanned and submitted in the EXIM Portal on the Department of Customs website at: http://188.8.131.52:8484/, as well as a physical copy to the Department of Customs.
The applicant must also provide an NPR 10,000.00 bank guarantee issued by an A class commercial bank. Normally, the code is issued within one week of the application being completed.
The system will issue the application with the signature on the specified form. Likewise
- Certificate of Industry or Firm Registration
- Certificate of PAN/VAT
- For export, a bank guarantee of ten lakh rupees is required, but only one lakh rupees is required. Document
- Recommendation from a bank in which the applicant has an account.
- A recent photograph of the applicant must have been taken within the last 6 months.
- The Business’s Location Map
You can apply either directly or by mail.
According to the documents mentioned above, the individual can apply at the nearest customs office and department. They can also apply by postal mail.
Exim code approval procedure
The application should be checked and approved within seven days of uploading all documents to http://184.108.40.206:8484/. The information that has been approved in this manner is delivered via email. A person or company is only given one Exim code. If the Exim code cannot be provided, an email with the same information will be sent. The reason they don’t include the exim code in the email is because they open it and email it.
The EXIM Code will be issued indefinitely. However, the EXIM code must be renewed every year. The bank guarantee must also be renewed when renewing. Minimum renewal period for more than one year.
Consider the following example to see how an EXIM Code is generated.
Assume that primelegals has the EXIM Code 1234567890147NP.
The PAN number of Prime legal is 123456789.
01 denotes its sole ownership.
47 is a computer-generated unique number.
Nepal is represented by NP.
The EXIM Code of a company remains the same throughout its existence; however, due to unpaid taxes, cancellation requests, and Bank Guarantee cancellation; the EXIM Code can be cancelled by the Department of Customs; however, it can be reinstated upon request with clearance of taxes or any other required documents. The EXIM Code must be renewed annually, and the Bank Guarantee certificate must be extended.
Sample EXIM Code Certificate
Everything you need to know about EXIM Code Renewal Procedures
Summary of EXIM Code Renewal Fees and Fines (FY 2079/80)
Customs has implemented an automatic export-import code number system and made Exim code renewal available online. Renewal fees are also payable online through Connect IPS. However, the voucher, bank guarantee, tax payment certificate, and all other documents already uploaded in the Online system must be physically submitted to the customs department or customs office.
But that is how government offices operate.
Any organization or institution engaged in the export or import of goods or services, whether manufacturing or trading, must obtain the EXIM code. Traders and industries that have an EXIM code must renew it before the start of the new fiscal year.
If you do not renew the code, you must pay a fine and renew it. The code is valid for 5 years from the date of renewal dues. After 5 years, the code is automatically cancelled, and you must reapply to register the EXIM code.
If you are wondering how to renew your Exim code in Nepal, here is the detailed procedure:
1. Go to the EXIM portal (Login for Import Code Renewal): http://220.127.116.11:8484/ieportal/login
2. Log in to the EXIM Portal.
Username: Enter U, followed by your EXIM Code (U6066…….NP).
password: Enter the password you saved or your EXIM code (U6066……NP) as Password.
Please change the EXIM Portal Password if you are logging in for the first time.
3. Select Renew Exim Code and complete the following fields.
EXIM Code in the EXIM Code field
The Renewal Date is the date on which you will renew the Exim code.
If your Exim code was issued solely for export purposes, select Export. If your EXIM code was issued for both export and import purposes, click on Export/Import. If your EXIM code was issued for both export and import purposes, click on Export/Import.
In the Remarks Box, type “EXIM code Renewal.”
Fill in the Voucher information based on your Bank Payment Voucher.
Documents must be uploaded.
Voucher Bill and enter the Document Name as Voucher Bill before clicking the Add New button.
Tax Clearance and enter the Document Name as Tax Clearance, then click the Add New button.
Company Certificate and enter Document Name as Company Certificate, then click the Add New button.
4. After submitting the documents, go to the dashboard and pay the renewal fees and fine. There will be two types of payments accepted by the portal. If you select “Bank Payment,” you will be taken to ConnectIPS to make an online payment. If you select “Online Payment,” you will be taken to ConnectIPS to make an online payment.
5. A submission number will be generated once you have submitted all of the details and documents, as well as made payment.
6. Submit the documents to the Customs Department for verification and renewal.
Exim code renewal fine calculation
If you are still unsure or need assistance with EXIM code registration or renewal, we are here to help you.
The firm is always available to help you with the Exim code registration or renewal process. If you are still unsure about the EXIM code renewal process and the documents required to renew the EXIM code, please leave a comment. We will walk you through the process until the department of customs renews your code.
We can also help you obtain a Bank Guarantee for Exim code registration or renew the Bank guarantee for code renewal. We can also assist you with company registration, private/partnership firm registration, and industry registration if you do not already have a business.
Should you have any questions, please do not hesitate to contact us at +977-9849517735 or by email email@example.com.
Alpana Bhandari is a founding partner and CEO of Prime Legal Consultants and Research Center. She graduated from American University Washington College of Law. She specializes in corporate/arbitration and family law.