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The Importer Exporter Code (IEC) is a unique 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, Government of India. It is a mandatory requirement for any business entity involved in importing or exporting goods and services from India. The IEC serves as the primary identifier for these transactions and is essential for businesses to engage in international trade. The process of obtaining an IEC is straightforward, and once issued, it is valid for the lifetime of the entity without the need for renewal. This ensures that businesses can operate seamlessly without the hassle of periodic renewals. The IEC not only facilitates smoother trade transactions but also helps businesses establish their presence in the global market, enabling them to expand their operations beyond national borders.
The Importer Exporter Code (IEC) is a unique 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce, Government of India. It is a mandatory requirement for any business entity involved in importing or exporting goods and services from India. The IEC serves as the primary identifier for these transactions and is essential for businesses to engage in international trade. The process of obtaining an IEC is straightforward, and once issued, it is valid for the lifetime of the entity without the need for renewal. This ensures that businesses can operate seamlessly without the hassle of periodic renewals. The IEC not only facilitates smoother trade transactions but also helps businesses establish their presence in the global market, enabling them to expand their operations beyond national borders.
Exemptions are granted to simplify processes for non-commercial and governmental needs while maintaining regulatory clarity.
Different documents are required by different entities to get IEC code and these are give below.
Global Market Access: With an IEC, businesses can expand their operations to international markets, significantly increasing their potential customer base and revenue opportunities.
New Opportunities: International markets offer various opportunities for business growth. Companies can explore new product lines, cater to diverse customer needs, and establish partnerships with global players.
Simplified Compliance: IEC does not require the holder to file periodic returns. This makes compliance straightforward and less time-consuming, allowing businesses to focus on their core activities.
One-Time Registration: The IEC is issued for the lifetime of the entity, eliminating the need for renewal.
Export Promotion Schemes: The Indian government offers various export promotion schemes such as MEIS (Merchandise Exports from India Scheme) and SEIS (Service Exports from India Scheme).
Customs Clearance: An IEC is mandatory for the customs clearance of goods. It ensures smooth and hassle-free processing of import and export consignments, reducing delays and operational costs.
Foreign Transactions: Banks require an IEC to process foreign exchange transactions related to international trade. This includes payments for imports and receipts for exports.
Official Recognition: Possession of an IEC provides official recognition to your business as a legitimate importer/exporter. This recognition can enhance your reputation and build trust with international customers and suppliers.
Brand Image: An IEC can improve your business brand image in the global marketplace.
Regulatory Compliance: The IEC ensures that businesses adhere to international trade regulations, thereby reducing the risk of engaging in illegal or fraudulent trade activities.
Transparency: Having an IEC brings transparency to cross-border transactions, helping regulatory bodies track and regulate trade activities effectively. This transparency also builds trust with trade partners.
Seeds: Certain seeds require permission from the Ministry of Agriculture.
Pesticides and Insecticides: Import and export are restricted and require approval from the Central Insecticides Board and Registration Committee.
Live Animals: Import/export of live animals requires clearance from the Animal Quarantine and Certification Services.
Meat and Meat Products:Restricted and require a sanitary permit from the Export Inspection Council.
Toxic Chemicals: Import/export of toxic chemicals is regulated and requires permission from the Ministry of Environment and Forests.
Ozone Depleting Substances: Restricted and require clearance from the Directorate General of Foreign Trade (DGFT).
Narcotic Drugs: Import/export of narcotic drugs requires approval from the Narcotics Control Bureau.
Medicines and Pharmaceuticals: Restricted items require clearance from the Drug Controller General of India.
Gold and Silver: Import/export of gold and silver is restricted and requires permission from the DGFT.
Diamonds: Certain types of diamonds require specific permissions.
Cryptographic Devices: Import/export of cryptographic devices is restricted and requires clearance from the Ministry of Electronics and Information Technology.
Drones and UAVs:Import/export of drones and Unmanned Aerial Vehicles (UAVs) require permission from the DGFT and the Directorate General of Civil Aviation (DGCA).
Firearms: Import/export of firearms is highly restricted and requires approval from the Ministry of Home Affairs.
Ammunitions: Similar to firearms, the import/export of ammunitions requires specific permissions.
Vintage Cars:Import of vintage cars requires permission from the DGFT.
Vehicle Components:Certain vehicle components and spare parts may be restricted and require specific licenses.
Wool and Woolen Products: Import/export of certain wool and woolen products may require specific licenses.
Silk:Silk products may be restricted and require clearance from the DGFT.
Antiques: Import/export of antiques is restricted and requires clearance from the Archaeological Survey of India.
Cultural Artifacts:Cultural artifacts also require permission from the Ministry of Culture.
Visit the online portal of DGFT. Click on the ‘Apply for IEC’ tab
You will be prompted to an online form where you will need to fill up your details (Name, mobile number, email ID, etc). An OTP will be sent to your mobile number. Enter the OTP in the space provided and click the ‘Submit’ button.
On the resulting page, you will need to submit details related to your business such as establishment date, PAN, account details, etc. After completing, click ‘Submit’ to proceed.
In this step, you will need to pay the requisite IEC application fee. You can make the payment through an electronic fund transfer.
After successful payment, you will need to upload the digital copies of the documents required.
In this step, you will be asked to submit the completed IEC application form. On successful submission, an Ecom Reference Number will appear on the screen.
Take a print of the completed IEC application form. You need to submit it to the DGFT office having jurisdiction in your area.
On successful verification of your credentials, your IEC will be issued within 3 to 7 days.
Udyog Suvidha Kendra will smoothly execute the import-export license online registration process for you. Our dedicated representatives will file the IEC application on your behalf. Post the submission; we would be doing the necessary coordination with the DGFT for expediting your application. We will ensure you receive your import-export license in just a few days.