Import Export Code Registration
IEC Registration:
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IMPORT EXPORT CODE REGISTRATION
A. About IEC:
- The IEC code is a 10-digit alphanumeric code issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce, Government of India. It serves as a unique identification number for entities engaged in import and export activities in India.
B. Benefits:
- Facilitates international trade: The IEC enables businesses and individuals to engage in import and export activities legally.
- Access to incentives: Having an IEC may grant access to certain benefits and incentives provided by the government for exporters and importers.
- Requirement for customs clearance: The IEC is necessary for customs clearance and documentation related to international trade transactions.
C. Features:
- Unique identification: Each IEC code is unique to the entity to which it is issued.
- Lifetime validity: Once obtained, the IEC code is valid for a lifetime and does not require renewal.
- 10-digit alphanumeric code: The IEC code consists of 10 characters, including both letters and numbers.
D. Uses:
- Import and export transactions: The IEC code is mandatory for all import and export transactions involving goods and services.
- Customs clearance: It needs to be mentioned in customs declarations, shipping documents, and all communication with customs authorities.
- Foreign exchange transactions: The IEC is required for remitting money abroad for import payments and receiving foreign exchange earnings from exports.
E. Validity:
- The IEC code, once issued, is valid for a lifetime. It does not expire and does not require renewal.
F. Eligibility:
- Any individual, partnership firm, company, LLP (Limited Liability Partnership), or any other entity engaged in importing or exporting goods and services from India is eligible to obtain an IEC.
- Even individuals or entities intending to engage in import/export for personal purposes need to obtain an IEC.
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G. Essential Documents required for IEC Registration:
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1. PAN Card:
Permanent Account Number (PAN) card issued by the Income Tax Department of India in the name of the applicant. This serves as the primary identification document.
2. Identity Proof:
Any one of the following identity proofs:
- Aadhaar Card
- Passport
- Voter ID Card
- Driving License
3. Address Proof:
Any one of the following address proofs:
- Aadhaar Card
- Passport
- Voter ID Card
- Driving License
- Recent utility bill (electricity, water, gas) in the name of the applicant
- Bank statement with address
4. Cancelled Cheque or Bank Certificate:
A cancelled cheque leaf or a bank certificate from the bank where the applicant holds their current account. This is required to verify the bank account details
5. Passport-size Photographs:
Recent passport-size color photographs of the applicant. The number of photographs required may vary based on the application process.
6. Incorporation Documents (for companies and LLPs):
- Certificate of Incorporation (COI)
- Memorandum of Association (MOA) and Articles of Association (AOA) in case of companies
- LLP Agreement in case of Limited Liability Partnerships (LLPs)
7. Authorised Signatory Details:
- In case the application is made on behalf of a company or LLP, details of the authorized signatory who will be responsible for the import-export transactions.
- It’s essential to ensure that all documents provided are valid, accurate, and up-to-date to avoid any delays or issues during the application process. Additionally, the application form, fees, and any other specific requirements outlined by the Directorate General of Foreign Trade (DGFT) need to be fulfilled as well.
H.Frequently asked questions (FAQs) regarding Import Export Code (IEC):
Any individual, partnership firm, company, LLP (Limited Liability Partnership), or any other entity engaged in importing or exporting goods and services from India requires an IEC. Even individuals or entities intending to engage in import/export for personal purposes need to obtain an IEC.
The IEC once issued is valid for a lifetime and does not require renewal. It remains valid unless surrendered or cancelled by the DGFT.
 The IEC is used in all transactions related to import and export, including customs clearance, shipping documents, and communication with customs authorities. It is also required for remitting money abroad for import payments and receiving foreign exchange earnings from exports.
Yes, any changes in the details provided during the issuance of the IEC need to be intimated to the DGFT, and necessary amendments need to be made. The DGFT also reserves the right to cancel an IEC in case of non-compliance with Foreign Trade Policy or any other violations.
Yes, there is a fee for obtaining an IEC, which varies based on the category of applicant (individual, partnership, company, etc.). The fee structure is prescribed by the DGFT and needs to be paid along with the application.