Import Export Code - VSB Consultants

Import Export Code (IEC) Registration

Expanding your business to international markets requires compliance with specific regulations. One essential requirement for businesses involved in importing or exporting goods and services from India is obtaining an Import Export Code (IEC). This unique 10-digit code, issued by the Directorate General of Foreign Trade (DGFT), is mandatory for conducting cross-border trade operations.

What is an Import Export Code (IEC) ?

An Import Export Code (IEC) is a business identification number issued by the DGFT (Directorate General of Foreign Trade), Ministry of Commerce and Industry, Government of India. It is mandatory for businesses involved in international trade, serving as an essential document for importing and exporting goods and services legally.

Once issued, an IEC is valid for a lifetime and does not require renewal. It is required by individuals, companies, and LLPs engaged in import-export activities.

When is an IEC Required ?

An IEC is necessary in the following situations:

✔ Importing Goods – Any business or individual importing goods into India must obtain an IEC for customs clearance.
✔ Exporting Goods – Exporters need an IEC to ship goods internationally and to receive payments in foreign currency.
✔ Availing Benefits from Government Schemes – Businesses seeking subsidies, incentives, or exemptions under foreign trade policies must have an IEC.
✔ Processing International Trade Transactions – Banks require an IEC to process trade-related foreign exchange transactions.

Note: IEC is not required for personal imports/exports if they are not intended for trade, manufacturing, or agricultural use.

Documents Required for IEC Registration

To apply for an IEC, the following documents are required:

For Individuals & Proprietorships

📌 Identity Proof – PAN Card, Aadhaar Card, Voter ID, or Passport.
📌 Address Proof – Utility bill (electricity, water, or telephone) not older than three months.
📌 Bank Details – Canceled cheque or bank certificate with the entity’s name, account number, and IFSC code.
📌 Digital Photograph – Recent passport-sized photograph of the applicant.

For Companies, LLPs & Partnerships

📌 Business Registration Proof – Certificate of Incorporation, Partnership Deed, or any other proof of business registration.
📌 PAN Card of the Business Entity – For companies and LLPs, the company’s PAN Card is required.
📌 Board Resolution (For Companies) – A resolution passed by directors authorizing IEC registration.
📌 Bank Details – Canceled cheque with the business’s name and IFSC code.
📌 Registered Office Address Proof – Lease agreement, property documents, or utility bill.

Step-by-Step Process for IEC Registration

The IEC registration process is completely online, and it involves the following steps:

1️⃣ Prepare the Application

✔ Gather all necessary documents for IEC registration.

2️⃣ Submit Online Application on DGFT Portal

✔ Visit the DGFT website and create a user profile.
✔ Fill out Form ANF-2A with business and personal details.

3️⃣ Upload Required Documents

✔ Scan and upload all required documents in the specified format.

4️⃣ Pay the Government Fee

✔ Pay the prescribed government fee online via debit/credit card, net banking, or UPI.

5️⃣ Application Processing & Verification

✔ The DGFT reviews the application and verifies the documents.
✔ If needed, the DGFT may request additional information or corrections.

6️⃣ IEC Code Issuance

✔ Upon successful verification, IEC is issued digitally within 5-7 working days.
✔ The IEC can be downloaded from the DGFT portal and used for all international trade activities.

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Frequently Asked Questions (FAQs)

+1. What is the validity period of an IEC ?

An IEC is valid for a lifetime, but needs yearly KYC approval.
+2. Is an IEC mandatory for all import-export businesses ?

Yes, any business engaged in importing or exporting goods or services must obtain an IEC.
+3. Can an individual apply for an IEC ?

Yes, individuals acting as sole proprietors can apply for an IEC.
+4. How long does it take to get an IEC ?

IEC is generally issued within 5-7 working days after successful application submission.
+5. What happens if I don’t obtain an IEC ?

Without an IEC, you cannot legally import or export goods. Your shipments may be held at customs, and you could face penalties.
+6. Is there a government fee for IEC registration ?

Yes, a nominal government fee of Rs 500 is applicable during the online submission process.
+7. Can I modify my IEC details ?

Yes, any changes in business name, address, or other details can be updated via the DGFT portal.
+8. Do I need to file returns or comply with ongoing regulations after obtaining an IEC ?

No, IEC holders are not required to file returns. However, compliance with GST, customs, and foreign trade policies is necessary.
+9. Can an IEC be transferred ?

No, an IEC is not transferable. In case of business ownership changes, a new IEC must be obtained.
+10. Is IEC required for exporting software services ?

Yes, service providers dealing in international trade must obtain an IEC to receive foreign currency payments.
+11. Can an IEC be canceled ?

Yes, if a business stops international trade activities, it can request the DGFT to cancel the IEC.
+12. Can foreign companies obtain an IEC ?

Yes, foreign companies with a business presence in India can apply for an IEC.
+13. Is IEC linked to PAN ?

Yes, IEC is linked to the PAN of the business or individual.
+14. Do I need an IEC for dropshipping ?

Yes, if you are importing products for dropshipping, an IEC is required.
+15. Can I use one IEC for multiple businesses ?

No, each business must apply for a separate IEC if operating under a different legal entity or PAN.