The Importer -Exporter Code (IEC) is a key business identification number which is mandatory for Exports or Imports. IEC Number is granted by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce.
No export or import shall be made by any person without obtaining an IEC unless specifically exempted. For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy. In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies.
Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society.
An import export code is a unique 10-digit code that is required for every import/export business owner in India. IEC is required by importers to clear customs and shipment, and to transfer money to foreign banks. Exporters require their IEC to send shipments and receive money from foreign banks. In short, no importer/exporter can operate in India without getting the IEC.
Any type of business registration: sole proprietorship, partnership, private limited companies, charitable organizations dealing with import and exports of goods can register for import-export code, irrespective of the size. However, an IEC is not required for import/export of goods for personal use, which are not connected with trade, manufacture, or agriculture. There is no need for a business set up.
For IEC Code Registration, the following documents are required:
To get your import export license online, you will need to do the following simple IEC registration steps.
To view the help documents, click here.
It generally takes only 1 day to get your Import Export Code/IEC License. But in certain cases, it may take another day since it is based on final approval from DGFT. So it takes 1-5 working days to get your Import Export License registration certificate.
For assistance call 1800-111-550 or write to firstname.lastname@example.org .
Source : DGFT