Import Export Code

Ø Import Export Code

·        Import Export Code (also known as IEC) is a 10 digit identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also known as Importer Exporter Code. It is mandatory for companies and businesses to obtain this code to start a business that deals with import and export in the Indian Territory. It is not possible to deal with export or import business without this code.

·        There are certain processes and conditions that you need to fulfill in order to obtain the Import Export Code. You also need to adhere to certain regulations. Once you fulfill the conditions, you can get the IEC code from the DGFT offices. It has several regional offices throughout the country.

·        It is a mandatory license for every commercial importer or exporter. Without this code no business can be performed in the import export category or to take IEC is a 10 digit Code, Import Export License Certificate issued by the Directorate General of Foreign Trade (DGFT) the benefits provided by the government on this Sector. Additionally, the Reserve Bank of India (RBI) has made it mandatory for all the traders to mention their IE Code, while making any payment transfer/ sending money abroad. Customs Department also seek IE code before clearing the shipment from overseas.

·        Import Export Code (IEC) once issued can be used by the entity throughout its existence and do not require any renewal or filing. Once the company obtained IEC then the company can perform all their import export requirements without any issues.

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