Importer Exporter Code (IEC) Certificate

Import-Export Code or IEC registration is mandatory for every person and organization engaged in importing and exporting activities from India. Such a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) is necessitated for carrying out customs clearance, export benefits, and expansion in international markets.

Import Export Code is a PAN based business identification number issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.

IEC Code is a license issued to persons importing or exporting goods and services in / from India. According to the current rules of India, no person can legally export or import products to or from India without having an IEC unless otherwise exempted.

Who Needs an IEC?

An Importer-Exporter Code (IEC) is important for anyone involved in international trade in India. Here’s who needs one:

Individuals: Anyone who wants to trade internationally, either for personal or business purposes, must get an IEC.

Companies: All businesses, whether they are small startups or large firms, need an IEC to import and export goods.

Organizations: This includes partnerships, trusts, and cooperatives that want to trade internationally.

Key Points:

• Mandatory Requirement: No one can import or export goods without an IEC, unless they have a specific exemption.

• Importance: The IEC is a unique business identification number. It helps businesses follow trade rules and regulations

Benefits of IEC registration

Expansion of business : IEC assists you in taking your services or product to the global market and growing your businesses.

Availing several benefits : The Companies could avail several benefits of their imports/ exports from the DGFT, Export Promotion Council, Customs, etc., on the basis of their IEC registration.

No return filing : IEC does not require the filing of any returns. Once allotted, there isn’t any requirement to follow any sort of process for sustaining its validity. Even for export transactions, there isn’t any requirement for filing any returns with DGFT.

Easy processing : It is fairly easy to obtain IEC code from the DGFT within a period of 10 to 15 days after submitting the application. There isn’t any need to provide proof of any export or import for getting IEC code.

No need for renewal : IEC code is effective for the lifetime of an entity and requires no renewal. After it is obtained, it could be used by an entity against all export and import transactions.

Sahyog Tax & Finance Advisory Limited assist businesses in filing application for obtaining IEC Code.