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IEC CODE (Import Export Code)

  • Jul 29

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.

Advantages Of IEC Registration:

  • Scope in the International Market.
  • 100% Digital Online Registrations
  • Minimum (Simple) Document Requirement.
  • Minumum compliances.
  • Permanent IEC Registration.
  • Global Market Reach
  • No any return Filing
  • No need for renewal

Time for Approval of IEC Registration:-

Both registered and unregistered organisations can apply for the IEC and receive the code within 10-15 working days. If you have a GST number, then you won't need to worry about getting a different IEC code.

Register Now

Frequently Ask Questions (FAQ's)

A: Any type of Business i.e. Sole Proprietorship, partnership, Private limited companies, Charitable Organisation which are dealing with import and exports of goods can register for import- export code, irrespective of the size. Here to note that IE Code is not required for goods for personal use, which is not connected with trade, manufacture or agriculture.
A: 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.
A: Do exporters or importers need to update GSTIN number with IEC number? There is no need to update or incorporate the GSTIN in the IEC.
A: This flourishes the Indian trade market in the international market and gives it a landmark of its own. Hence, the IEC can be considered as a licence for making international trade as every importer or exporter trading goods from within the Indian territory requires to register for clearing the goods through customs.
A: IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. It is not a hard process but an easy process to obtain IEC Code from the DGFT within a time span of 10-15 days after the submission of the application. After the IEC Code is obtained, the code is used for the purpose of import as well as export. The validity of IEC Code remains for its lifetime unless and until one’s cancelled it.
A: The full form of IEC is Importer- Exporter Code. IEC is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person. The Procedure to apply IEC Registration are as follows: • One should fill the online application form. • Should upload the required documents. • Must make an online payment. • Then, the IEC expert will call the applicant to process his/her application. • Finally, receive his/her certificate via mail.
A: Ans. Scanned Documents for Upload in the System (PDF Only and Max file size of 5 MB). A. Proof of establishment/incorporation/registration. i. Partnership ii. Registered Society iii. Trust iv. HUF v. Others B. Proof of Address can be any one of the following documents: i. Sale Deed, Rent agreement, lease deed, electricity bill, telephone land line bill, mobile, postpaid bill, MoU, Partnership deed ii. Other acceptable documents (for proprietorship only):Aadhar card, passport, voter id iii. In case the address proof is not in the name of the applicant firm, a no objection certificate (NOC) by the firm premises owner in favor of the firm along with the address proof is to be submitted as a single PDF document. C. Proof of Firm’s Bank Account i. Cancelled Cheque ii. Bank certificate
A: Ans. If all the documents submitted are verified, an IEC is issued within 10 working days. If your business is registered for GST, then your GSTIN can be used in place of IEC as a unique identifier.
A: Without an IEC code, merchants cannot export goods or services to other countries. The customs port needs the IEC in case a merchant is exporting goods and services. You would also require an IEC code as an exporter if you receive money in foreign currency directly into your bank account.