IEC stands for Importer-Exporter Code. It is a unique 10-digit code issued by the Directorate General of Foreign Trade (DGFT), which is a department under the Ministry of Commerce and Industry in India. The IEC code is mandatory for any individual or business entity engaged in import or export activities in India.
The IEC code serves as an identification number for importers and exporters and is used for customs clearance purposes. It is required for clearing goods through customs and conducting international trade transactions.
Here are some key points to know about the IEC code:
Process for IEC Code registration
To obtain an IEC code, an individual or business entity needs to apply to the DGFT through the online application portal. The application requires specific details about the applicant, such as their personal or business information, bank account details, and supporting documents.
Features of Import Export Code
The IEC code is a unique 10-digit code issued by DGFT to the applicant. This code remains valid for the lifetime of the entity or until it is surrendered or canceled.
No requirement for renewal:
Unlike some other licenses or registrations, the IEC code does not require renewal. Once obtained, it remains valid until canceled.
Single code for multiple branches:
If an entity has multiple branches or business locations, it can use a single IEC code for all of them. The code is not location-specific.
Is the IEC code mandatory for Import or Export?
The IEC code is mandatory for all individuals or business entities (such as Companies, LLP, OPC) engaged in import or export activities. It is required for customs clearance, filing shipping bills, sending and receiving money in foreign currency, and participating in international trade transactions.
Exemption for certain categories
There are some specific categories of importers and exporters that are exempted from obtaining the IEC code. These include individuals or entities importing or exporting goods for personal use, certain government departments, and specified charitable organizations.
Frequently Asked Questions – Import Export Code Certificate
A: IEC stands for Importer-Exporter Code. It is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) in India. It is mandatory for individuals or businesses engaged in import or export activities.
A: Any individual or business entity involved in import or export activities in India requires an IEC code. It is necessary for customs clearance and conducting international trade transactions.
A: You can apply for an IEC code online through the DGFT’s website. Fill out the application form, provide the required information, and submit supporting documents as per the guidelines.
A: The documents required for IEC code registration may include: a PAN card, identity proof, address proof, bank certificate, and passport-sized photographs, among others.
The specific documents vary depending on the applicant’s category, such as individual, Proprietorship, partnership, or company.
A: Yes, there is a fee associated with obtaining an IEC code. The fee structure is mentioned on the DGFT’s website and may vary depending on the category of the applicant.
A: The processing time for an IEC code application is typically around 1-2 working days after submission of the complete application with required documents. The timeline may vary based on the workload and efficiency of the DGFT office.
A: No, the IEC code is not location-specific. It can be used for all branches or business locations of the entity.
A: No, the IEC code does not require renewal. Once obtained, it remains valid until it is canceled or surrendered by the applicant.
A: Yes, certain modifications can be made to an existing IEC code, such as changes in address, email, or authorized representatives. The DGFT provides a facility for updating such information.
A: Non-compliance with IEC code requirements can lead to penalties, confiscation of goods, and other legal consequences. It is important to adhere to the rules and regulations related to IEC code and international trade activities.
- GST Registration
- TDS Return Filing (Form 24Q, 26Q, 27EQ and Form 26QB)
- GST Monthly Return Filing
- PF Registration
- ESI Registration
Need help? Get in touch with us on: