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The application for IEC code can be made online through the DGFT’s online portal.
IEC stands for Import Export Code. It is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. The IEC code is mandatory for any person or entity engaged in the import/export of goods and services to/from India.
Any individual or business entity involved in import/export activities can apply for an IEC code. This includes:
Permanent : Once issued, the IEC code is valid for a lifetime and does not require renewal.
Pan-based: The IEC code is based on the PAN (Permanent Account Number) of the applicant.
No Filing Requirement: There is no requirement for filing any returns or maintaining compliance under IEC code.
No Restrictions: There are no restrictions on the number of shipments or the value of goods that can be imported/exported using an IEC code.
Separate IEC for Each Entity: Each entity engaged in import/export activities must obtain a separate IEC code.
Conclusion:The IEC code is a crucial prerequisite for engaging in international trade activities. Whether you are an individual exporter/importer or a business entity, obtaining an IEC code is essential to comply with legal requirements and facilitate smooth import/export operations. It is advisable to consult with a professional or visit the official DGFT website for detailed information and assistance regarding IEC code registration.
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