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An Import Export Code (IEC) is a mandatory business identification number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce. It is required for businesses engaged in importing or exporting goods and services in India.
Key Features
- Unique Identification: A 10-digit code issued for lifetime validity.
- Legal Requirement: Mandatory for all import/export activities under the Foreign Trade Policy.
- No Renewal Needed: Once obtained, the IEC remains valid without renewal requirements.
Benefits of IEC
- International Trade Authorization: Legally enables import/export activities.
- Global Market Reach: Opens up new business opportunities in foreign markets.
- Government Incentives: Essential for availing export promotion schemes and duty exemptions.
- Ease of Compliance: Simplifies customs clearances and foreign transactions.
Who Needs an IEC?
- Businesses importing or exporting goods and services.
- Individuals or proprietors operating under their name for international trade.
Exemptions
- Not required for services or technologies exported under special circumstances (e.g., exempted from GST).
- Government departments and certain notified categories.
How to Apply for IEC in India
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Prepare Documents:
- PAN card of the business or individual.
- Aadhaar card or Passport/Driving License for identity verification.
- Bank certificate or canceled cheque.
- Business address proof (e.g., electricity bill, rent agreement).
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Online Application:
- Register on the DGFT portal.
- Fill out the application form (ANF-2A).
- Upload required documents.
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Pay Fees: Nominal government fee (currently ₹500).
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Approval: Receive the IEC code in 1–2 working days after successful verification.
Usage of IEC
- Required during customs clearance for imports/exports.
- Mentioned in international trade documents like invoices, shipping bills, and customs declarations.
- Used for remittances received in foreign currency.
Make your international trade seamless and compliant with our professional IEC services.