Import Export Code (IEC) is a unique 10-digit registration number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is a mandatory license for any business or individual intending to engage in the import or export of goods and services from India. IEC serves as a primary identification number for international trade and is required by banks, customs, and other regulatory authorities during cross-border transactions. This one-time registration is valid for a lifetime and does not require any renewal.
WHAT IS IMPORT EXPORT CODE (IEC)?
Import Export Code (IEC) is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is mandatory for any person or entity involved in importing or exporting goods and services from India. The IEC acts as a key business identification number for international trade and is required by customs, banks, and government authorities.
FEATURES OF IEC:
- Unique Code: Each IEC is unique to the importer/exporter and cannot be duplicated.
- Lifetime Validity: IEC registration is valid for the lifetime of the entity and does not require renewal.
- Wide Applicability: Applicable for businesses, sole proprietors, LLPs, companies, and individuals engaged in cross-border trade.
- Mandatory for Customs Clearance: Required for clearance of shipments by customs authorities.
REQUIREMENTS:
- PAN Card: PAN card of the individual or entity applying for IEC.
- Address Proof: Proof of address of the business (rent agreement, electricity bill, etc.).
- Bank Details: Bank details and a cancelled cheque.
- Identity Proof: Aadhaar, passport, voter ID, etc. of the applicant.
- Digital Signature: Required for online application submission.
- Business Registration Certificate: If applicable.
ADVANTAGES OF IMPORT EXPORT CODE (IEC):
- Legal Authorization: Enables legal import and export activities under Indian law.
- Facilitates Trade: Required for customs clearance and banking formalities related to foreign trade.
- No Renewal Needed: Once obtained, IEC is valid for life, reducing compliance burden.
- Eligibility for Benefits: Enables businesses to avail export incentives, subsidies, and schemes.
- Simplifies Documentation: Essential for filing shipping bills and other export/import paperwork.
ENTITIES REQUIRED TO OBTAIN IEC:
- Any business or individual planning to import or export goods or services.
- Exporters and importers participating in customs clearance.
- Entities availing export incentives or subsidies from the government.
FREQUENTLY ASKED QUESTIONS
Q1: Who issues the Import Export Code?
A1: The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India.
Q2: Is IEC mandatory for all businesses?
A2: IEC is mandatory only for those involved in import or export of goods and services.
Q3: How long does it take to get an IEC?
A3: Usually 3–7 working days after submitting a complete application online.
Q4: Does IEC require renewal?
A4: No, IEC is valid for a lifetime and does not require renewal.
Q5: Can individuals apply for IEC?
A5: Yes, both individuals and businesses can apply for IEC.
Q6: Is IEC required for export of services?
A6: Yes, IEC is mandatory for export of both goods and services.
Q7: Can one IEC be used for multiple business locations?
A7: Yes, IEC is unique to the entity and can be used across all its branches and locations.