IEC Stands for IMPORTER EXPORTER CODE. As per section 7 of Foreign Trade (Development and Regulation) Act, 1992 Importer-Exporter Code Number – “No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General.IEC Code is unique code provided to Importer and Exporter. IEC code is a 10 Digit Code. IEC Code is mandatory provision for every business who wish to import and export. IEC is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
Any person/ company starting a venture for International trade.
Following categories of importers or exporters are exempted from obtaining IEC number:
(i) Importers covered by clause 3(1) [except sub-clauses(e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
(ii) Ministries / Departments of Central or State Government.
(iii) Individuals importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
1. Copy of PAN Card
2. Passport size photograph
3. Copy of Aadhaar Card/ Voter identity card
4. Authorization letter (In case of Partnership)
5. Authority from other Directors on letter head (In case of company)
6. Copy of Partnership deed (In case of Partnership)
7. Board Resolution/self declaration (In case of Company)
8. Telephone Bill in the name of the Individual (In case of individual)
9. Cancelled cheque of individual
1. Copy of PAN Card firm/company
2. Copy of Property papers (If owned property)
3. Copy of Rent agreement (If rented property)
4. Landlord NOC (Format will be provided by us)
5. Cancelled cheque of firm
6. Electricity/ water bill (Business Place)
7. Telephone Bill in the name of the business
8. Copy of Service Tax returns (In case of Proprietorship)
9. Certificate of incorporation (In case of company)
10. Bank statement of firm/company
11. AOA and MOA (In case of company)
Q : Importers Require IE Code
A : All Importers who want to import goods in India require an IE Code. The IE Code must be quoted while clearing customs. Also, banks require the importers IE Code while sending money abroad for purchase of goods and services.
Q : Exporters Require IE Code
A : All Exporters who export goods or services from India to any other country require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad for export of goods or services abroad.
Q : No Return Filing
IE Code does not require the filing of annual or quarterly return. If import or export transactions occur, there are no filings required to DGFT.
Q : Validity of IEC
A : An IEC number allotted to an applicant shall be valid for all its branches / divisions / units / factories. IEC is valid for ever and no need to renew the same.