IEC Code Registration
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. Get IEC Certificate within 24hours.
What is IEC (Import Export Code)
Import- Export Code (IEC) is a 10-digit alphanumeric business identification number which mandatory for export business. No export or import possible 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 Code
Documents in Case of Sole Proprietorship Firm
- Pan card of Proprietor
- Aadhar card of Proprietor
- Photograph of Proprietor
- Cancel Cheque or Bank statement of Proprietor or Firm
- Proof of Business Address: Recent Month Electricity bill/ Rent Agreement/Property Tax Receipt/ Sales Deed/ Lease Deed
For Partnership / LLP / Company
- Company Documents – Certificate of incorporation, MOA , AOA , PAN Card
- Directors Detail – PAN Card , Adhaar card, photograph
- Cancel Cheque or Bank statement of company
- Business Address: Recent Month Electricity bill/ Rent Agreement/Property Tax Receipt/ Sales Deed/ Lease Deed
How to apply for IEC Code?
Apply for IEC Code
IEC Code Renewal & Compliance
- As per the Recent DGFT Notification Number 58 dated 12th February 2021, any Import – Exporter Code (IEC) Holder is required to update their IEC electronically every year, during the period of April – June.
- While Updation is mandatory, due consideration has been taken not increase any compliance burden.
- Not Renewal/ updation will result in to deactivation of Import Export Code
FAQ's on IEC Code
IEC stands for Import Export code which is a 10 digit number issued by Director General of Foreign Trade, Department of Commerce, Government of India. It is a registration required for traders importing or exporting goods and services to or from India. Under the MEIS Scheme, numerous rewards and incentives are provided to exporters. Such incentives are given to exporters at a prescribed rate which varies from product to product.
Any person/company dealing in international trade of export and import of goods and Services need to register for IE code.
No. IEC is a mandatory document for recognition by Govt. of India as Exporter / Importer of goods and services. However, if the value of goods is too low, the customs authorities may permit first export by imposing nominal charges which is highly unlikely to happen.
Anyone who is acting as sole proprietor of a business can obtain IE code Registration.
To obtain IE code registration, a copy of PAN Card, proof of address of business and constitution of the business [Partnership deed, Incorporation Certificate, etc.,] and a cancelled cheque of the current account is required.
With Setupfiling IEC Registration can be obtained from the DGFT in 1-7working days after submission of all required documents and application form.
As trade is not possible without a valid IEC, the penalty levied may be the pay duty depending upon the quantum of the goods.
No. IEC is a mandatory document for recognition by Govt. of India as exporter/importer. However, if the value of goods is very low, the concerned customs officer may permit the first export (only one time) by imposing penal charges.
Yes, IEC number is reflected in all customs documents related to exports and imports.
IEC is Pan Based Registration so A single business owner can get only one License.
Yes. In order to make changes, you need to raise a request with the DGFT and produce the relevant documents to make the modifications. Some government fee may be charged for the same.
IE code can be cancelled by initiating a formal request to the DGFT online. On receipt of such intimation, the authorities will cancel it electronically.