The Import Export Code (IEC) is an essential element if you are planning to start your import or export business in India. The IEC is a 10-digit identification code issued by the Director General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India. It is issued to an importer or exporter by the DGFT regional office. India's IEC registration is mandatory for conducting import and export business in the country. The IEC registration can be done online as well as offline. The registration process can be started online via the official website of the Director General for Foreign Trade (DGFT). The manual or offline IEC registration process involves submitting the application and required documents to the nearest regional office of DGFT. Online involves completing the online application form, submitting the required documents and making the payment. IEC issuance takes around 5-10 working days.
The Government of India's Ministry of Commerce and Industry has mandated that IEC details be updated annually for all IEC holders. The Directorate General of Foreign Trade (DGFT) has announced that IEC holders are legally obliged to update data via the online system once a year from April to June, even if there are no changes. If an IEC holder does not update the details, his IEC code is deactivated and no import-export activity is possible.
Documents required for updation of IEC code
- Digital Photograph (3x3cms) of the applicant.
- Digital signature of applicant.
- Copy of PAN card of the applicant.
- Copy of Passport (first & last page)/Aadhar Card/Voter’s I-Card/ Driving Licence.
- Sale deed in case business premise is self-owned, or Rental/Lease
- An agreement, in case, the office is rented/ leased, or the latest electricity/telephone bill.
- Bank Certificate as per ANF 2A(I) or a cancelled Cheque bearing pre-printed name of the applicant and A/C No.
- Copy of the Partnership Deed (for a partnership firm)
- Certificate of incorporation as issued by the RoC (if any)
- Registration Certificate of the Society / Copy of the Trust Deed (in case of registered society or trust)
- Copy of the original IEC certificate.
IEC registration can help expand business in the world market. This international platform will consequently lead to more sales and product range. The IEC registration and updation has become easier and more time-saving thanks to the online presence. Exporters and importers need to update the IEC registration regularly to take advantage of IEC. In addition, you do not have to submit any declarations for the IEC registration.