Import Export Code

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. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society.

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.

Documents required for IEC (Import Export Code) registration

1. Individual’s, firm’s or company’s copy of PAN Card.
2. Proprietor’s voter ID, Aadhaar card or passport copy.
3. Proof of establishment, incorporation or registration of the partnership, society, proprietorship firm, company, HUF, etc.
4. Proof of address of business premise, such as sale deed, lease deed, rent agreement or utility bills (electricity bill, telephone bill or mobile bill).
5. Individual’s or company’s or firm’s cancel cheque copies of current bank accounts.
6. A self-addressed envelope for delivery of IEC certificate by registered post.

Benefits of IEC registration

Expansion of business

IEC assists you in taking your services or product to the global market and growing your businesses.

Availing several benefits

The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.

No return filing

IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of process for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

Easy processing

It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.

No need for renewal

IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.