IMPORT & EXPORT CODE

IMPORT & EXPORT CODE

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(Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code that has lifetime validity. Predominantly importer merchants cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc., without IEC.

Situations where IEC is required:-

  • When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
  • When an importer sends money abroad through banks then it’s needed by the bank.
  • When an exporter has to send his shipments then it’s needed by the customs port.
  • When an exporter receives money in foreign currency directly into his bank account then it’s required by the bank.

Documents required to file Import & Export Code :-

  • PAN Card (Individuals/Firm’s)
  • Aadhar
  • Photo
  • Electricity Bill/Lease Agreement/Land Receipt
  • Cancelled Cheque
  • Partnership Deed if required