Import Export Code
Import Export Code (IEC) is a unique 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is a mandatory requirement for businesses engaged in importing or exporting goods and services from India. The IEC serves as a primary business identification number for global trade transactions.IEC acts as a key facilitator for international trade and ensures smooth processing of shipments at customs. It helps businesses establish credibility in the global market, making cross-border transactions more seamless. Additionally, IEC is essential for availing various government schemes, incentives, and subsidies related to exports, which can significantly benefit businesses
Why is IEC Important?
IEC (Import Export Code) is crucial for businesses dealing in international trade. Without it, importing and exporting activities cannot be legally carried out. Here are some key reasons why IEC is important:
✔ Legal Requirement: Mandatory for customs clearance and shipments.
✔ Global Market Access: Enables businesses to expand internationally.
✔ Bank Transactions: Required for receiving payments from foreign clients.
✔ Availing Government Benefits: Necessary for claiming export-related benefits and incentives.
Who Needs IEC?
Any individual or business entity engaged in the import or export of goods and services must obtain an IEC. The following entities require Import Export Code:
✔ Proprietorship firms
✔ Partnership firms
✔ Private Limited Companies
✔ Limited Liability Partnerships (LLPs)
✔ NGOs and Trusts (engaged in international trade)
How to Apply for IEC?
The application process for obtaining an I is straightforward and can be completed online through the DGFT portal. Follow these steps:
Visit the DGFT Website: Go to the official DGFT website and navigate to the IEC application section.
Register as an Applicant: Create a login ID and password.
Fill the Online Application (ANF-2A): Provide business details, PAN details, and bank details.
Upload Required Documents:
PAN card of the applicant or business entity
Aadhaar card or passport (for identity verification)
Business registration proof (GST certificate, partnership deed, etc.)
Bank certificate or cancelled cheque
Pay the Application Fee: A nominal fee is required for processing.
Submit the Application: Once submitted, the IEC is generated within 2-3 working days.
To successfully apply for Import Export Code, the following documents are required:
✔ PAN card of the business entity
✔ Proof of business address (electricity bill, lease agreement, etc.)
Exemptions from IEC
Certain categories of importers and exporters are exempted from obtaining an IEC:
✔ Government ministries and departments
✔ Persons importing/exporting goods for personal use
✔ Exporters registered under specific government schemes
