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Import Export Code

  • Legal Requirement Under the Foreign Trade Act, 1992
  • Essential for Customs Clearance
  • Required for International Trade Transactions
  • Eligibility for Government Export Benefits
  • Enhances Business Credibility
  • Facilitates Trade Data Collection and Policy Formulation

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The Import Export Code (IEC) is a 10-digit unique identification number issued by the Director General of Foreign Trade (DGFT), Department of Commerce, Government of India. It is also referred to as the Importer Exporter Code.

 

Any individual or business entity involved in import or export activities in India must obtain an IEC. The registration process requires fulfilling specific conditions and adhering to regulations set by DGFT. Once all requirements are met, the IEC can be obtained from the DGFT’s regional offices across the country.

 

IEC is a mandatory requirement for all businesses engaged in international trade. Once issued, the IEC remains valid for a lifetime without the need for renewal.

 

The Need for Import Export Code (IEC)

As mentioned earlier, the Import Export Code (IEC) is a mandatory requirement for businesses engaged in international trade in India. Below are the key reasons why IEC is essential:

 

1. Legal Requirement Under the Foreign Trade Act, 1992

  • IEC is mandatory under the Foreign Trade (Development & Regulation) Act, 1992.
  • It ensures businesses comply with standard trade regulations and prevents illegal trade practices.

 

2. Essential for Customs Clearance

  • Customs authorities require IEC for clearing import-export shipments.
  • It ensures that goods comply with legal norms and international trade regulations.

 

3. Required for International Trade Transactions

  • Banks demand IEC to process international trade payments.
  • It helps banks verify the legitimacy of transactions and ensures compliance with trade laws.

 

4. Eligibility for Government Export Benefits

  • The Indian government provides various incentives for exporters, such as:
    → Duty drawbacks
    → Export promotion schemes
    → Subsidies
  • An IEC is necessary to avail these benefits.

 

5. Enhances Business Credibility

  • IEC establishes a business’s credibility in the international market.
  • It serves as proof of registration with the Government of India for conducting import-export activities.

 

6. Facilitates Trade Data Collection and Policy Formulation

  • The government uses IEC data to track imports and exports.
  • This data helps in effective policy-making, improving India’s overall trade performance.

 

Who Can Apply for Import Export Code (IEC)?

  • Any individual who wishes to import or export goods for commercial purposes can apply for an IEC.
  • Business entities such as proprietorship firms, partnership firms, private limited companies, public limited companies, LLPs, and trusts engaged in international trade are also eligible to apply for IEC.

DOCUMENT REQUIRED

  • Copy of PAN Card of the individual, firm, or company.
  • Cancelled cheque of the current bank account of the individual, firm, or company.
  • Proof of business premises – Rent/lease agreement or electricity bill.
  • Identity proof – Copy of Aadhaar Card, Voter ID, or Passport of the individual.
  • Self-addressed envelope for delivery of the IEC Certificate via registered post.

 

GSTIN Details

  • GST Identification Number (GSTIN), if the business is registered under GST

1.  Visit the Official DGFT Website

  • Go to the Director General of Foreign Trade (DGFT) official website for IEC registration in India.

 

2.  Create a New Account

  • Register by providing basic details such as name, address, mobile number, and email ID.

 

3.  Log In to Your Account

  • After account creation, log in using your registered email ID and password.

 

4.  Fill the IEC Application Form

  • Complete the online application form by entering all required details.
  • Upload the necessary documents as per the guidelines.

 

5.  Pay the IEC Application Fee

  • Make the payment for the IEC application fee online through the DGFT portal.

 

6.  Track the Application Status

  • After submission, you can track your IEC application status online.

 

7.  Receive IEC Certificate

  • Once approved, the IEC Certificate will be sent to your registered email ID.

Mandatory Requirement:
An IEC is a mandatory business identification number for anyone engaging in import or export activities in India, unless specifically exempted.

 

Issued by:
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Government of India.

 

Purpose:
It serves as a unique identification for businesses in international trade, ensuring compliance with import-export regulations.

 

IEC is linked to PAN:
Consequent upon introduction of GST, IEC number is the same as the PAN of the firm.

 

IEC is separately issued by DGFT:
The IEC will still be separately issued by DGFT based on an application.

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Frequently Asked Question

1. What are the benefits of Udyam Registration?

  • Government Schemes & Subsidies – Access to loans, subsidies, and credit guarantee schemes.
  • Tax Benefits – Exemption from direct tax in certain cases.
  • Easy Loan Approval – Collateral-free loans from banks.
  • Lower Interest Rates – Reduced interest rates on business loans.
  • Preference in Government Tenders – MSMEs get priority in public procurement.
  • Protection Against Late Payments – MSME Act ensures timely payments from buyers.

2. Can I register multiple businesses under one Udyam Registration?

  • No, each business entity must have a separate Udyam Registration.

3. Is GST registration mandatory for Udyam Registration?

  • Yes, if your business is required to register under GST.
  • No, if your business turnover is below the GST threshold

5. Do I need to renew my Udyam Registration?

  • No, Udyam Registration is valid for a lifetime and does not require renewal

5. How can I update or modify my Udyam Registration?

  • Log in to the Udyam portal with your registration number.
  • Edit business details and submit for approval.
  • Updates are reflected in the Udyam Certificate.