An Importer Exporter Code (IEC) is a 10-digit code that is mandatory for any person or entity that wants to engage in the business of importing or exporting goods and services from India. It is issued by the Director General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India.
The IEC is a unique identification number that helps the government track the international trade transactions of an entity. It is also used by customs authorities to clear shipments at ports and airports. Without an IEC, an individual or entity cannot export or import goods from India.
Photograph of Proprietor.
Copy of the pan card of the proprietor.
Copy of passport/voter id/driving license/Aadhaar Card.
Business address Proof.
The IEC is a mandatory requirement for businesses that want to import or export goods and services. It allows them to enter the global market and expand their customer base, thereby promoting business growth and development.
The IEC helps prevent the transportation of illegal goods by requiring businesses to provide authentic information during the registration process.
Businesses with an IEC can avail of various benefits, such as subsidies from customs, export promotion councils, or other authorities. They can also benefit from GST tax exemptions, refunds, or reduced tax rates, depending on their exports and imports.
Unlike other tax registrations, businesses that hold an IEC are not required to fulfill any specific compliance requirements, such as annual filing or return filings.
An Import Export Code (IEC) registration is a 10-digit unique number assigned to an individual or a business entity by the Directorate General of Foreign Trade (DGFT). It is mandatory for any person or entity who wants to start an import or export business in India.
Any person or entity who wants to start an import or export business in India needs to register for an IEC.
You can apply for an IEC code online by visiting the DGFT website and filling out the application form.
An IEC code is valid for a lifetime unless it is surrendered or cancelled by the DGFT.
It usually takes 2-3 working days to get an IEC code after submitting the application and documents.
Yes, you can cancel your IEC code registration by filing an application for surrender with the DGFT.
No. Only 1 IEC is issued to a person/entity. So if more than 1 IEC code is issued to anyone, then that IEC should be surrendered to the Regional Office for cancellation.
Yes, an individual can apply for IEC Registration.
No there is no need to file monthly Returns.
No, an IEC code is not necessary to participate in international trade fairs. However, if any goods are to be imported or exported in relation to the trade fair, then an IEC code is required.
No, an IEC code is not mandatory for the import/export of goods for personal use. However, if the value of the goods being imported or exported exceeds Rs. 5 lakhs, then an IEC code is required.