Import Export Code or IEC is a 10-digit code that a business or a person needs to import/export goods/services. This code is issued by DGFT (Director General of Foreign trade), Ministry of Commerce and Industries, Government of India. The validity of this code is for lifetime, that is, there is no need to renew it.
Import Export Code (IEC) is a ten-digit number, comprising alphabets and numbers. IEC is a mandatory prerequisite to starting a business of Import or Export in India. The IEC code is a pan-based registration, hence against one pan number the director general of foreign trade can issue only one IE Code. The IEC is a unique number through which a person is identified at all offices of Customs and DGFT across India. In general all the Imports and Exports can be done without any other authorisation, license or permission, However in the national interest or to regulate the trade or any specific commodity, the central government may restrict or prohibit the import or export of certain goods. In case you wish to import any item which is restricted, an application for license or permission to import can be made to the DGFT explaining the specific reasons for the export or import.
1. It is needed by the custom authorities to clear the shipments in the case of any imports.
2. It is needed by the bank to transfer the amount in the case of any imports made.
3. Vis-à-vis if an exporter needs to send the shipments, then it is required.
4. Or, if the exporter is supposed to receive money in foreign currency and it is transferred directly into his bank account.
The Services which are included in our package are as Follows:
✅ Drafting Docs
✅ Preparation of Application
✅Application Filing
✅Paying Government Fees
1. Pan Card of the Company /LLP or Firm
2. Cancelled Cheque of Applicant
3. Certificate of Incorporation, MOA & AOA
4. PAN Card of All Directors/ Partners
5. Id and Address Proof of All Persons
Step -1 Arrange all Required Documents: The first step is to arrange all the documents and
send the same over the email / WhatsApp to us. Once all the Documents are Received, we
will Start the Further Process.
Step -2 Documentation The documents to be uploaded while applying for the IE Code must be prepared, signed and stamped.
Step-3: Filing of Application: The Next Step is Submission of Application at Department.
Step-4: Issue Of IEC Code: The regional director of the DGFT scrutinises the application, which may call for further information or documents. Finally, the IE Code is allotted.
Q1. Can a person/Entity have more than one IEC?
No. Only 1 IEC is issued to a person/entity. So if more than 1 IEC code is issued, then the same should be surrendered to the Regional Office for cancellation.
Q2. What Happens in case IEC Number is lost or misplaced?
In such a case, you need to provide an affidavit so that the issuing authority of the IEC code can issue a copy of your IEC number.
Q3. Can I Surrender my IEC?
Yes you can. You need to inform the issuing the authority about such decision. And they shall immediately cancel your IEC number after electronically transmitting it to DGFT for onward transmission to the Customs and Regional Authorities.
Q4. Is there any Tax Levied on IEC Code?
No, there is no tax levied on IEC code. However, custom duty may be imposed. It depends on the category of the products imported or exported.
Q5. Can IEC Code be Modified?
If you or a company wants to modify any details in IEC license, then iec can be modified online by making an application to DGFT.