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What is an Import-Export (IE) Code?

The Import-Export Code (IEC) is a unique 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Government of India. It is mandatory for businesses or individuals engaging in the import or export of goods and services.

Key Features of an Import-Export Code (IEC):

  1. Unique Identification:
    • IEC serves as the primary identifier for a business in import-export transactions.
    • It is required for customs clearance, shipping, and receiving foreign currency payments.
  2. Lifetime Validity:
    • Once issued, the IEC is valid for the lifetime of the entity and does not require renewal.
    • It remains active unless the holder voluntarily surrenders it.
  3. Applicability:
    • Mandatory for businesses involved in importing/exporting goods.
    • Also required for service exporters receiving foreign payments if the business crosses the prescribed limit.
  4. No Transaction Limitations:
    • There are no restrictions on the number of transactions or the amount under the IEC.

Who Needs an IEC?

  • Businesses or individuals importing goods into India.
  • Businesses or individuals exporting goods or services from India.
  • Entities receiving foreign currency payments for services rendered.
  • E-commerce operators involved in cross-border trade.

Who Does Not Require an IEC?

  • Individuals importing/exporting for personal use.
  • Entities exempted under specific government notifications (e.g., ministries, departments).

Why is IEC Required?

  1. Customs Clearance:
    • IEC is necessary for clearing goods through Indian customs.
  2. International Trade:
    • It is essential for engaging in international markets and receiving or making payments in foreign currency.
  3. Compliance:
    • Facilitates compliance with government regulations and policies on trade.
  4. Global Reach:
    • Enables businesses to expand their operations globally.

Documents Required for IEC Registration:

  1. Individual/Business PAN Card.
  2. Business Registration Certificate (for companies/partnerships).
  3. Identity Proof (Aadhaar card, voter ID, or passport).
  4. Address Proof (rental agreement, utility bills, or ownership documents).
  5. Bank Details:
    • Canceled cheque or a copy of the bank statement.
  6. Digital Photograph of the applicant.

How to Apply for IEC:

  1. Online Registration:
    • Visit the DGFT portaL

2. Fill Out the Application:

  • Complete the IEC form and upload required documents.
  1. Pay the Fee:
    • Submit the prescribed application fee.
  2. Verification and Issuance:
    • DGFT verifies the application and issues the IEC electronically.

Benefits of an IEC:

  • Facilitates global trade opportunities.
  • Increases business visibility in international markets.
  • Simplifies government compliance for trade.
  • Enables access to export incentives and schemes offered by the government.

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