Import Export Code (IEC)

What is IEC

An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted. For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.

Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. 

Pre-Requisites for Applying for IEC

IEC may be applied on behalf of a firm which may be a Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society. Firm must have a PAN, bank account in the name of the firm and a valid address before applying. Address may be physically verified by the DGFT on issuance of the IEC. Please keep your PAN, bank details and firm details ready before applying.

Who can Apply

The IEC code registration is applicable for all business registrations:

  • Proprietorship
  • Partnership
  • LLP
  • Limited Company
  • Trust
  • HUF
  • Society
Documents for Registration

For IEC Code Registration following documents are required:

  • Individual’s or Firm’s or Company’s copy of PAN Card
  • Individual’s voter id or Aadhar card or passport copy
  • Individual’s or company’s or firm’s cancel cheque copy of current bank account
  • Copy of Rent Agreement or Electricity Bill Copy of the premise
  • A self-addressed envelope for delivery of IEC certificate by registered post
Benefits of IEC Registration
  • Expansion of Business
  • Availing Several Benefits from DGFT, Export Promotion Council, Custom etc
  • Non Filling of periodic returns
  • Easy Processing
  • Life time validity
When IEC is required
  • Customs authorities need it to clear shipments during imports.
  • The bank needs it to transfer the money when imports are made.
  • Similarly during export the shipments the IEC is required.
  • When exporter is supposed to receive money in foreign currency, IEC code is required to transfer the money to his account directly.

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