How It Works
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IEC (Import Export Code) is a unique, ten-digit code required for import and export from India. To conduct seamless commerce in international trade, importers and exporters need this unique identification number. IECs are issued by India’s Ministry of Commerce and Industry’s Director General of Foreign Trade (DGFT), and they are suitable for the whole life of the organisation.
Benefits of IEC code
By signing up for Import Export Code, you may develop your company by leaps and bounds by reaching out to a broader worldwide market.
The Director General of Foreign Trade makes it easy to obtain an import-export code. Applications are typically handled after submission in 10 to 15 days.
No return filing
You won’t need to file returns if you register for the Import Export Code.
No need for a renewal
Persons who own this code will never need to worry about renewing it.
Businesses that sign up for the Import Export Code may profit from additional advantages provided by customs, the Export Promotion Council, and the Director General of Foreign Trade.
When an IEC code is required
- The importers will be required to provide an Import Export Code by the customs officials when clearing shipments through customs.
- The bank will request an Import Export Code from importers when they transfer money internationally through banks.
- Customs ports will ask exporters for an Import Export Code when they submit their cargo.
- The bank will request an Import Export Code from exporters when paid in foreign currency, and the funds are deposited directly into their bank accounts.
Eligibility to get IEC code
- Proprietors– Sole proprietors of a firm can obtain an IE code in their name without first incorporating it as a corporation.
- Exporters– Exporters must register with IEC to export goods from India. The IE Code must be cited by exporters when sending merchandise. In addition, banks demand the IE code of the company or person when accepting payments from abroad.
- Importers- Importers must register with the IEC to import products into India. The IE Code must be cited by importers when they pass through customs. Also, while sending money abroad, banks demand the recipient’s or recipient’s IE code.
Procedure to get IEC code
- Step 1: Check out the DGFT webpage. On the homepage, choose the Services button. From the drop-down menu, select Profile IEC Management.
- Step 2: There will be a new page loaded. On the page, select Apply for IEC.
- Step 3: Choose Register by clicking. After providing the required data, click the Send OTP button.
- Step 4: After entering the OTP, select the Register button.
- Step 5: When the OTP is successfully validated, the user will receive a notice with the temporary password, which they can modify after accessing the DGFT website.
- Step 6: Enter your username and password to access the DGFT website after registering there.
- Step 7: Select Apply for IEC from the Dashboard after logging in. If the user has already saved a draught application, click the button that says Start New Application or Proceed with Current Application.
- Step 8: Insert the information in the General Information Part of the application form (ANF 2A format).
- Step 9: Accept the terms and conditions under the declaration by checking the box.
- Step 10: Inspect the application summary before signing it with an Aadhaar or digital signature certificate by clicking the Sign button.
- Step11: Verify and continue with the payment against the Application.
- Step 12: After successful payment, the IEC code is generated from the DGFT website.
Documents required to get the IEC code
- Copy of the PAN card for the individual, business, or organisation.
- Copy of a person’s passport, Aadhar card, or voter ID.
- Copies of current bank accounts cancel checks from individuals, businesses, or firms.
- A copy of the premise’s lease agreement or Electricity bill.
- A self-addressed stamped envelope for the IEC certificate’s registered mail delivery.
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