In This Article

IEC (Import Export Code) – How to Apply and it’s Benefits

IEC (Import Export Code) – How to Apply and it’s Benefits

In This Article

What is an Import Export Code (IEC)?

An Import Export Code (IEC) is a unique 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India. It is mandatory for businesses and individuals engaged in importing or exporting goods and services from India. IEC Code benefits include streamlined customs processes, eligibility for government schemes, and global trade access.

Situations Where IEC is Required

Situations Where IEC is Required

Customs Clearance: IEC is mandatory for clearing goods at customs during import and export.

Bank Transactions: Banks require IEC for processing international trade payments.

Availing Export Incentives: IEC is necessary to benefit from government export promotion schemes and incentives.

Steps to Apply for IEC Registration

Visit the DGFT Website:

Access the official Directorate General of Foreign Trade (DGFT) website.

Access Services:

Click on the ‘Services’ tab on the homepage.

Select ‘IEC Profile Management’ from the drop-down menu.

Initiate Application:

Click ‘Apply for IEC’ on the new page.

Select ‘Register’, enter the required details, and verify your contact details via OTP.

Login to DGFT Portal:

Use the username and password to log in to the DGFT website.

Start Application:

Select ‘Apply for IEC’ and click ‘Start Fresh Application.’

Enter Required Details:

Provide general business details, bank account information, and information about proprietors, partners, or directors.

Attach Documents:

Upload essential documents, including your Digital Signature Certificate (DSC).

Make Payment:

Pay the required fee online.

After successful payment, you will be redirected back to the DGFT website.

Download Receipt:

A payment receipt will be displayed. Download and save it for future reference.

Receive IEC Certificate:

The IEC certificate will be emailed to your registered email ID.

Alternatively, you can log in to the DGFT website, navigate to ‘IEC Profile Management’, and select ‘Print IEC’ to download your certificate.

Documents Required for IEC Registration

Documents Required for IEC Registration

  • PAN Card: Copy of the applicant’s or entity’s PAN card.
  • Identity Proof: Aadhaar card, voter ID, or passport of the proprietor/partners/directors.
  • Address Proof: Utility bills, lease deed, rent agreement, or sale deed of business premises.
  • Bank Details: A canceled cheque or a bank certificate from the current account.
  • Digital Signature Certificate (DSC): For secure online submission.

Benefits of IEC Registration

Global Market Access:

  • IEC enables businesses to enter global markets, expanding their reach and exploring international business opportunities.

No Return Filing:

  • IEC registration does not require the filing of any returns. Once issued, it remains valid for a lifetime without additional compliance or renewal processes. Even for export transactions, businesses are not required to file returns with the DGFT, ensuring minimal administrative burden for importers and exporters

No Renewal Requirement:

  • IEC is issued for a lifetime and does not require periodic renewal, reducing

compliance burden and administrative costs.

Easy Online Application and Processing

  • The IEC application process is entirely online, making it easy to obtain and manage without complex paperwork.

Efficient Bank Transactions:

  • Banks use IEC to facilitate and validate all international trade-related payments.

Enhanced Credibility:

  • IEC registration boosts business credibility, helping build trust with foreign clients and partners.

Cases Where Import-Export Code (IEC) is Not Mandatory

IEC is not required when goods are imported or exported for personal use and not for commercial purposes. Also, IEC requirement is exempted in case of export of services. Government departments, ministries, and certain notified charitable institutions are also exempt from obtaining an IEC.

Frequently Asked Questions (FAQs) about Import Export Code (IEC)

Frequently Asked Questions (FAQs) about Import Export Code (IEC)

  1. What is an Import Export Code (IEC)?

IEC is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT) for businesses involved in international trade.

  1. Who needs an IEC?

Any individual or business engaged in the import or export of goods and services must obtain an IEC unless specifically exempted.

  1. Is IEC mandatory for all traders?

No, traders registered under GST can use their PAN as their IEC for import-export purposes, as per the latest government circular.

  1. How can I apply for an IEC?

You can apply online through the DGFT website by filling out the application form, uploading the required documents, and paying the application fee.

  1. What documents are required for IEC registration?

Key documents include a PAN card, address proof, a canceled cheque or bank certificate, and proof of business entity (if applicable).

  1. Does IEC have an expiry date?

No, IEC is valid for a lifetime and does not require renewal.

  1. Is there any return filing requirement for IEC?

No, IEC does not require filing any returns or periodic compliance after it is issued.

  1. Can IEC be modified or canceled?

Yes, you can update or cancel your IEC online through the DGFT portal if there are any changes in business details or if you no longer need the IEC.

  1. Are there any exemptions from IEC registration?

IEC is not required for personal imports/exports, government departments, ministries, and certain notified charitable institutions.

  1. What is the fee for applying for an IEC?

The application fee for IEC is INR 500, payable online during the registration process.

For expert guidance, contact ApkiReturn at 766 515 6000 or email us at info@apkireturn.com. Visit apkireturn.

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Picture of CA Umesh Jethani
CA Umesh Jethani
As a Chartered Accountant with over 20 years of experience, I specialize in audit and advisory services, including MIS and stock audits. I help clients optimize tax liabilities and provide due diligence services for banks. Recently, I expanded my firm’s offerings to include agency work for monitoring large bank advances. I’m passionate about sharing insights to navigate the financial landscape.
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