The Import Export Code (IEC) is a 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT), Government of India, to individuals or entities engaging in import/export activities.

Any individual or entity involved in importing or exporting goods or services from India requires an IEC. This includes businesses, traders, manufacturers, and even individuals engaging in international trade activities.

Yes, an IEC is mandatory for all types of imports and exports, except for goods and services specified under specific categories exempted by the DGFT.

An IEC is valid for the lifetime of the entity or individual and does not require renewal. However, any changes in the details provided during the application process necessitate modification of the existing IEC.

Yes, an IEC can be surrendered or cancelled if the entity or individual ceases to engage in import/export activities. The cancellation request must be submitted to the DGFT along with the required documents.

The documents required for obtaining an IEC include:

• Identity proof of the applicant (e.g., PAN card, Aadhaar card, passport)
• Address proof (e.g., voter ID, driving license, utility bill)
• Bank certificate or canceled cheque
• Business entity proof (e.g., GST registration certificate, partnership deed, company incorporation certificate)

Yes, an IEC obtained for a specific entity can be used for all branches or locations of that entity involved in import/export activities. However, the details of all such branches should be mentioned in the IEC application.

Yes, applicants can track the status of their IEC application online through the DGFT’s website using the application reference number provided during the submission of the application.

Yes, an IEC allows entities or individuals to engage in both import and export activities. It serves as a unique identification number for facilitating customs clearance and complying with international trade regulations.

Engaging in import/export activities without a valid IEC is illegal and can attract penalties, including confiscation of goods and imposition of fines by customs authorities. It is essential to obtain an IEC before commencing any international trade transactions.

These FAQs aim to address common queries regarding the Import Export Code (IEC) and its significance in international trade. For further assistance or clarifications, feel free to reach out to Legal Tax Wala specializing in IEC- related matters.