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IEC Code

In the trading world, it is common to buy and sell commodities internationally. While ensuring large benefits, it helps businesses expand more as compared to the local trade. Though, there are certain legal documents required for the same, one of it being IEC. IEC or Import Export Code is a 10 digit code provided by DGFT Director General of Foreign Trade. It is used by a trader to import and export goods across the country's border.

Why Is IEC Code Needed?

    Only one IEC code is generated against one PAN number. The IEC code is required in the following cases.

  • The IEC code is required by the customs department in order to import or export your goods at the border.

  • Financial institutions require it at the time of an international transaction through a financial institution.

  • When a trader deposits a foreign currency in its bank, the bank requires the IEC code to process the transaction.

How To Apply For IEC Code?

  • Log on to www.dgft.gov.in
  • Click on Importer Exporter Code(IEC) and choose Online IEC Application
  • Fill in the application which has opened and submit it
  • Enter the "digit" token number received on email id and contact number
  • Update Master Data
  • Add branch details
  • Attach the scanned copies of the documents required for the application
  • Pay application fee
  • Submit the application
  • Check application status

What are the benefits of IEC code?


  • It lets you do trade internationally.
  • It is a lifetime code unless it is canceled by you.
  • There are no compliance issues for IEC registration.
  • There is no maintenance fee.
  • No need to file the return.

What Will Happen If I Don't Have IEC?


  • If you don't have an IEC code, it is impossible for you to do any import and export trade beyond your country's boundaries.

What Are The Documents Needed For IEC Code?


  • Details of a current bank account
  • A self-attested copy of the PAN card
  • A banker’s certificate
  • 2 passport size photographs of the applicant attested by the banker
  • A cover letter on the letterhead from the applicant’s company

Frequently Asked Questions

  • The total time that it takes from the submission of the application online to receiving the IE code is 1 day. Though, there can be a slight delay, due to unavoidable reasons.
  • No, you do not need to file a return after receiving IE code.
  • IEC is a lifetime Import Export Code and there is no need to renew or reapply for the same.
  • Yes, anyone can get an Import Export Code, regardless of whether or not they are into exports and imports. There is no restriction for doing so in any way.
  • No, there is no requirement for one to have a company to get an IEC code online or otherwise. Even private individuals can get the same if they want.
  • Yes. The IE code can be canceled anytime by the trader. Though, if you want to gain the IE code again, you need to do the entire process again.
  • You need to make a request to the DGFT to cancel the IE code. This can be done online. The process of cancellation is immediate, there is no waiting.
  • No, there is no penalty. But you cannot engage in foreign trade without an IE code. You will simply be notified for having the same.
  • Only one. Each trader or businessman or an individual will be released only one IE code.
  • Yes, it is possible for anyone to get an IE code registered with the Directorate General of Foreign Trade. There are in fact several consultancies and individuals who provide this service for you. Though, do check their credentials before sharing any contact information and original documents.