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In the dynamic world of international trade, the Import Export Code (“IEC”) serves as a critical gateway for businesses looking to engage in cross-border commerce. This unique identifier is not just a regulatory requirement but a passport to global trade opportunities. Whether you're a budding entrepreneur or an established business looking to expand internationally, understanding the nuances of IEC is crucial.

What is Import and Export Code?

The Import and Export Code is key registration document comprising of 10-digit unique identification number issued by the Directorate General of Foreign Trade (“DGFT”), Ministry of Commerce and Industry, Government of India.

This 10-digit alphanumeric code acts as a primary business identification number and is mandatory for any business or individual engaged in importing or exporting goods and services in India.

The IEC helps track and regulate cross-border transactions and ensures compliance with international trade laws.

Having an IEC is essential for availing benefits from customs, export promotion councils, and the Export Credit Guarantee Corporation (“ECGC”). It is a one-time registration, valid for a lifetime, unless updated or surrendered.

You Can Also Find Helpful: GST Registration Services of FileAbhi

Who should have IEC?

IEC is required for:

1. Businesses engaged in import or export: Any entity importing or exporting goods and services must obtain an IEC before initiating transactions.
2. Individuals engaged in international trade: Individuals who import or export goods for business purposes must also apply for an IEC, even if they do not own a registered business.
3. Service exporters: Businesses offering services outside India require IEC to receive payments in foreign currency under schemes like the Foreign Trade Policy (“FTP”).
4. Proprietorships, partnerships, companies, and trusts: Any legal entity dealing in imports or exports must have an IEC for customs clearance.

Exceptions:

• IEC is not required for goods and services imported or exported for personal use.
• IEC is not needed if the business is involved in specific government-notified categories, such as ministries and certain charitable organizations.

To summarize, 

• Importer needs IEC License for custom clearance.
• Exporters need IEC License for export subsidy.
• Bank requires IEC License for sending and receiving money to foreign customers

Note: With the introduction of GST, the IEC issued is the same as the PAN of the firm. However, IEC is still separately issued by DGFT based on an application. The nature of the firm obtaining an IEC may be any of the following: Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society.

Importing or exporting without an IEC can lead to customs clearance issues, penalties, and non-compliance with trade laws.

Try it yourself: Do you need an IEC?

What documents are required for IEC?

To apply for an IEC, the following documents are typically required:

1. PAN card: Mandatory for all applicants.
2. Aadhaar card or passport (for individuals and proprietorships): Required as identity proof.
3. Business registration certificate: Incorporation certificate, partnership deed, or MSME registration, depending on the business structure.
4. Address proof: Electricity bill, lease agreement, or rent deed of business premises.
5. Cancelled cheque or bank certificate: To verify banking details.
6. Digital signature certificate (“DSC”): Required for companies and LLPs.
7. Email ID and mobile number: For OTP-based verification.

Click here to view detailed document requirement for each entity type - ANF-2A_0.pdf

How to get IEC: Step by step process

IEC registration is an online process that can be completed through the DGFT’s official website. Below is the step-by-step guide:

Step 1: Visit the DGFT website

• Go to https://www.dgft.gov.in
• Click on the ‘Apply for IEC’ option.

Step 2: Register/Login

• Create a user account by providing your PAN, email, and mobile number.
• Verify details through OTP authentication.
• Log in to the DGFT portal using the credentials.

Step 3: Fill IEC application (Form ANF-2A)

• Enter business details such as name, address, and PAN details.
• Upload necessary documents (as listed above).

Click here to access the manual form - ANF-2A_0.pdf

Step 4: Payment of fees

• Pay the registration fee (currently ₹500) online through net banking, UPI, or credit/debit card.
• Once the payment is successful, an acknowledgment is generated.

Step 5: Application submission & IEC generation

• After submission, DGFT processes the application.
• If all details are correct, IEC is issued within 2-3 working days.
• You can download the IEC certificate from the portal.

How to make corrections in IEC once issued: Step-by-step process

If you need to make corrections or update your IEC details, follow these steps:

Step 1: Login to DGFT portal

• Visit https://www.dgft.gov.in
• Log in using your credentials.

Step 2: Select IEC modification

• Navigate to the ‘IEC Profile Management’ section.
• Click on ‘Modify IEC’

Step 3: Update required information

• Make necessary changes (e.g., business name, address, bank details, etc.).
• Upload supporting documents as proof

Step 4: Pay the amendment fee

• A small amendment fee (around ₹200) may apply.
• Pay through online modes.

Step 5: Submit & await approval

• Submit the modified application.
• DGFT will review and approve updates within 2-5 working days.

Why choose FileAbhi for IEC registration?

1. Hassle-free online application: FileAbhi offers end-to-end assistance for IEC registration, ensuring error-free submission and faster approvals.

2. Expert guidance: Our professionals help in preparing necessary documents and verifying details to prevent rejection.

3. Quick turnaround time: With our expertise, we ensure you get your IEC within a few days.

4. Post-registration support: We assist in IEC modifications and regulatory compliance.

By following the guidelines and leveraging professional assistance from FileAbhi, businesses can ensure a seamless IEC registration and compliance process.