Import Export Code (IEC)

Import Export Code (IEC)?

An Importer Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC. For services exports, however, IEC shall not be necessary except when the service provider is taking benefits under the Foreign Trade Policy. An individual or a business entity needs a 10 digit code to import or export products or services. This code is known as Import Export Code or IEC and it is issued by DGFT, Ministry of Commerce and Industries, Govt. of India.

Benefits of Import Export Code Registration

Business expansion: Registering for Import Export Code will help you in expanding your business and reaching out to a larger market on a global scale, thereby helping your business to grow by leaps and bounds.
No return filing: Registering for Import Export Code will mean that you need not file any returns.

When is the IEC code required?

1. Custom authorities need it to clear shipments during imports.
2. The bank needs it to transfer the money when imports are made.
1. 3. Similarly during export shipments the IEC is required.

4. When the exporter is supposed to receive money in foreign currency, the IEC code is required to transfer the money to his account directly.

Documents Required for Import Export Code (IEC) Registration.

We need the following documents for Import Export Code (IEC) Registration.
1.PAN CARD by all Director
2.ADDRESS PROOF Aadhar Card and anyone from • Voter id, / • Passport / • DL
- ADDRESS PROOF OF REGISTERED OFFICE
  3.Electricity bill / • Mobile bill/Telephone Bill / • Gas Bill / • Water tax/Municipal Tax/House Tax + (NOC)