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IEC (Import-Export Code) is regarded as a key business identification number that is compulsory for the purpose of export from India as well for the purpose of import to India. Without having an IEC no export as well as import must be made by any person.
As per Section 7 of Foreign Trade (Development and Regulation) Act, 1992: An Importer Exporter Code (IEC) is an identification number which is mandatory for export from India or Import to India. For export of services or technology, IEC shall be necessary on the date of rendering services for availing benefits under the Foreign Trade Policy.
IEC is issued by DGFT, Ministry of Commerce and Industries, Govt. of India and it is a 10-digit code that has validity for lifetime.
An IEC holder has to ensure that details in its IEC is updated electronically every year, during the April-June period. In cases where there are no changes in IEC details same also needs to be confirmed online.
The Provisions regarding the IEC are contained under:
Documents Required to be uploaded for IEC Code:
In case of Partnership Firm:
In case of Company or LLP:
In case of Proprietor
Exemptions of Import Export Code
Annual Update of IEC
An IEC holder has to ensure that details in its IEC is updated electronically every year, during the April – June period. In cases where there are no changes in IEC details, same also needs to be confirmed online.
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