Import Export Code (IEC)
An Import Export Code (IEC) is a mandatory business identification number issued by the Directorate General of Foreign Trade (DGFT), India. It is required by businesses and individuals engaged in the import and export of goods and services. Without an IEC, one cannot undertake international trade in India.
What is IEC?
The Import Export Code (IEC) is a 10-digit alphanumeric code that acts as a license for businesses to engage in cross-border trade. It is a one-time registration valid for a lifetime, with no renewal requirement.
Who Needs an Import Export Code?
Businesses Importing Goods or Services:
To clear shipments through customs or to send payments abroad.Businesses Exporting Goods or Services:
To claim export benefits and receive payments from foreign clients.Entities Involved in International Trade:
Manufacturers, traders, proprietors, partnerships, LLPs, and private limited companies.
Key Features of IEC
Mandatory for International Trade:
IEC is required for any business dealing in import or export.Lifetime Validity:
Once issued, the IEC remains valid as long as the business exists.No Filing Requirement:
Unlike other business licenses, there are no annual filings or compliances associated with IEC.Global Expansion:
IEC facilitates business expansion into global markets.
Documents Required for IEC Registration
For Proprietorship:
- PAN card of the proprietor
- Aadhar card or voter ID/passport
- Business address proof: Rent agreement or utility bill
- Bank certificate or canceled cheque
For Partnership/LLP/Company:
- PAN card of the entity
- Incorporation certificate or partnership deed
- Address proof of the entity
- Digital Signature Certificate (DSC)
- Bank certificate or canceled cheque
How to Apply for IEC
Step 1: Register on the DGFT Portal
- Visit the DGFT website
- Create a user profile using your PAN card.
Step 2: Fill Out the IEC Application Form
- Log in to your DGFT account and access the IEC application form (ANF 2A).
- Enter details about your business, such as PAN, name, address, and bank details.
Step 3: Upload Documents
- Attach the required documents in the specified format.
Step 4: Pay the Fees
- Pay the IEC application fee online via net banking, debit card, or credit card.
Step 5: Submit the Application
- Submit the form. Upon verification, the IEC will be issued electronically.
Benefits of IEC
Legal Requirement for International Trade:
Enables businesses to import or export goods and services legally.Global Market Access:
Allows businesses to expand their reach to international markets.Government Schemes and Benefits:
Facilitates access to export incentives under various government programs.Simplified Registration:
One-time registration process with no renewal requirement.
Compliance and Updates
Although IEC registration does not require periodic filings, any changes in business details (like address, name, or bank details) must be updated on the DGFT portal.
Frequently asked Questions
Yes, any business engaged in import or export must obtain an IEC.
Typically, the IEC is issued within 5-7 working days after successful application.
Yes, individuals can apply for IEC if they are engaged in import or export.
The government charges a nominal fee for IEC registration. Additional service charges may apply if opting for professional help.
No, IEC is valid for a lifetime and does not need renewal.
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