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Import Export Code (IEC) is a mandatory 10-digit license for businesses engaged in cross-border trade, issued by DGFT.
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Import Export Code Overview
Import Export Code (IEC) registration is mandatory for businesses involved in importing or exporting goods and services in India. Issued by the Directorate General of Foreign Trade (DGFT), IEC is a unique 10-digit code required to conduct international trade. The registration process involves submitting essential business documents, including PAN, proof of address, and bank details, through the DGFT portal. IEC is a one-time registration without renewal requirements, ensuring lifetime validity. It simplifies access to global markets, facilitates customs clearance, and enables businesses to claim export benefits under government schemes, enhancing credibility and promoting seamless international trade operations.
DOCUMENTS REQUIRED FOR IMPORT EXPORT CODE REGISTRATION
Before proceeding to the import export license process lets have information regarding the documents needed to get Import Export Code License Online in India. The nature of the firm obtaining an IEC may be any of the follows- "Sole Proprietorship, Partnership, LLP, Private Limited Company & Public Limited Company, Trust, HUF and Society."
- PAN of the business entity
- Address Proof of the applicant’s entity (electricity bill)
- Registration/Certification Number
- Bank account details of the entity with Cancelled Cheque
- Identity proof (Aadhaar Card, Voter Id Card, Passport)
- Passport size photograph
Import Export Code Renewal and Validity
- Unlike other government licenses, the Import Export Code (IEC) does not have an expiry date. However, after the amendments in Import Export Code related provisions under Chapter 1 and 2 of Foreign Trade Policy on 12th February, 2021 Import Export Code now has to be renewed each and every year. This amendment made the update of IEC code details mandatory for all IEC or e-IEC holders on DGFT portal each year. Even if there are no updates in IEC, the same has to be confirmed online
Benefits of Import Export Code Registration
1. Legal Requirement for International Trade
IEC is mandatory for businesses engaged in importing or exporting goods and services, ensuring compliance with government regulations.
2. Access to Global Markets
IEC enables businesses to expand their operations internationally, facilitating seamless participation in global trade.
3. Avail Export Benefits and Incentives
Businesses with IEC can claim export subsidies, tax refunds, and other incentives offered by the government.
4. Smooth Customs Clearance
IEC simplifies customs procedures by serving as a key identifier for import-export activities, ensuring hassle-free documentation.
5. Lifetime Validity
IEC requires no renewal, offering a one-time registration that remains valid for a lifetime, reducing administrative burdens.
6. Enhances Business Credibility
Having IEC registration boosts the credibility of businesses in the eyes of international clients and suppliers.
FAQ ON IMPORT EXPORT CODE REGISTRATION
IEC is a unique 10-digit code issued by the Directorate General of Foreign Trade (DGFT) that is mandatory for businesses involved in international trade.
Any business or individual engaging in import or export activities in India requires IEC registration, except for those exempted under specific rules.
Yes, IEC is mandatory for conducting import-export activities, including availing benefits under government export schemes.
You can apply online through the DGFT portal by submitting required documents like PAN, address proof, and bank details, and paying the prescribed fee.
The registration process usually takes 1-5 working days after the successful submission of documents and application.
No, IEC is valid for a lifetime and does not require renewal, though updates must be made in case of changes in business details.
Common documents include PAN card, Aadhaar card, address proof of the business, bank certificate, and a passport-size photograph.
