Importer Exporter Code

The Importer -Exporter Code (IEC) is a key business identification number which is mandatory for Exports or Imports. No person shall make any import or export except under an IEC Number granted by the DGFT. In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies.

IEC is required in the following cases;

  1. When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
  2. When an importer sends money abroad through bank.
  3. It’s required at the Customs port, when an exporter sends his shipment.
  4. When an exporter receives money in foreign currency directly into his bank account.

Documents required for IEC (Import Export Code) Registration

For IEC Code Registration following documents are required:

  • Individual’s or Firm’s or Company’s copy of PAN Card
  • Individual’s voter id or Aadhar card or passport copy
  • Individual’s or company’s or firm’s cancel cheque copy of current bank account
  • Copy of Rent Agreement or Electricity Bill Copy of the premise
Benefits of IEC Registration
  1. Expansion of Business: IEC is a mandatory registration requirement to gain entry into international trading activity.
  2. Avail benefits: Overseas trading benefits can be obtained from DGFT, Export Promotion Council, Customs etc.
  3. No Filing of returns: There is no requirement of filing returns, unlike other statutory registrations.
  4. One Time activity: IEC is effective for lifetime and requires no renewal. Once obtained, it can be used for all import and export transactions.