IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT).
All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity.
Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad.
For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
FEATURES OF IEC
All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports.
IEC code holder does not require filing of any returns.
IEC Code is issued for lifetime and requires no renewal.
Even individuals who are proprietors can obtain the code in their name.
IEC DOCUMENTS IN RESPECT OF INDIVIDUAL/ PROPRIETOR/ PARTNER/ DIRECTOR
Copy of PAN Card
Passport size photograph
Copy of Aadhaar Card/ Voter identity card
Telephone Bill in the name of the Individual (In case of individual)
Cancelled cheque of individual.
IEC DOCUMENTS IN RESPECT OF ENTITY
Copy of PAN Card Firm / Company
Cancelled cheque of firm
Electricity/ water bill (Business Place)
Telephone Bill in the name of the business
Certificate of incorporation (In case of company)
Identity and Address proof of all directors.