What is Import Export Code ?
The Import Export Code (IEC) is a unique identification number issued by the Directorate General of Foreign Trade (DGFT) in India. It is mandatory for businesses engaged in import or export activities. The IEC facilitates customs clearance, international transactions, and compliance with foreign trade regulations, allowing businesses to consistently engage in global trade. An IEC is a single code applicable to all branches or divisions of a business.
Benefits
- Identification : Provides a unique identifier for businesses involved in import/export activities.
- Regulatory Compliance :Ensures adherence to Indian foreign trade policies.
- Customs Clearance : Essential for the clearance of goods through customs.
- Bank Transactions : Necessary for processing international bank payments related to trade.
Process
Submission of Application
Submit an online application on the DGFT website.
Upload the Documents
- PAN card of the business or individual
- Proof of address (such as Aadhar card, passport, voter ID)
- Bank account details with a cancelled cheque
- Digital photograph of the applicant
Fee Payment
Pay the required application fee online.
Verification and Approval
The application is verified by the DGFT, and upon successful verification, the IEC is issued electronically.
Documents Required
- PAN card of the business or individual
- Proof of address (such as Aadhar card, passport, voter ID)
- Bank account details with a cancelled cheque
- Digital photograph of the applicant
Our Support?
- Expertise : Our team of experienced professionals has in-depth knowledge of DGFT procedures.
- Efficiency : We streamline the process to ensure quick and hassle-free IEC registration and modifications.
- Support : We provide continuous support and advisory services to help businesses stay compliant with regulations.
Frequently Asked Questions
Any business or individual involved in import or export activities in India is required to obtain an IEC. This code is essential for engaging in global trade and complying with foreign trade regulations.
Once the application is submitted and all details are verified, the IEC is typically issued electronically within a few weeks.
Yes, the IEC is a single code that applies to all branches or divisions of a business. There is no need for separate IECs for different branches.
Operating a business involved in import or export without an IEC is illegal and can result in penalties and delays in customs clearance and international transactions.