Import Export Code

What is Import Export Code

Import Export Code or IEC is a 10-digit code that a business or a person needs to import/export The Import Export Code (IEC) is a ten-digit alphanumeric code that is issued by the DGFT, Ministry of Commerce and Industries, Government of India. It is a one-time registration that does not require renewal and is essential for commencing an import or export business in India. The IEC is unique to each individual or entity and is based on their PAN number. It serves as a means of identification for customs and DGFT offices across India. Generally, all imports and exports can be carried out without any additional authorization or license, except in cases where the central government restricts or prohibits the import or export of certain goods. If an import or export falls under restricted category, the DGFT can be approached for obtaining a license or permission by providing a valid reason for the same.

When is IEC code required?

  1. To clear any imported shipments, custom authorities require it.
  2. For any imported goods, banks require it to transfer the payment.
  3. When an exporter needs to ship goods, the code is necessary.
  4. If an exporter is to receive foreign currency payment directly into their bank account, the code is required.

Rietway Consultants IEC Package

The Services which are included in our package are as Follows:
✅ Drafting Docs
✅ Preparation of Application
✅Application Filing
✅Paying Government Fees

Documents Required for Import Export Code

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

Import Export Code Filing Procedure

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.

FAQs On Import Export Code

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.