Import export code (IEC)

What it is

The IEC, also called importer exporter code, import export licence or import export number, is the first requirement for anyone starting an import or export business in India. It is issued by DGFT and, for applicants with a PAN, the IEC is the same as the PAN. You can take it in your personal name or in the name of your firm or company.

One IEC covers all divisions, units, factories and branches of the applicant. It does not expire. Since 2021, however, the IEC holder must confirm or update the details on the DGFT portal every year between April and June. If this is not done, the IEC is deactivated until it is updated.

For services or technology, an IEC is needed only in limited cases: when the service or technology is on the restricted list where the Government of India controls trade for reasons such as national security, or when you want to claim benefits under the Foreign Trade Policy.

Features of the IEC

• It is the primary proof that a firm is an importer or exporter.
• Import or export of goods cannot be done without first obtaining an IEC.
• A proprietor can obtain an IEC without registering the business as a company or firm.
• Once issued, the IEC stays valid for life, subject to the annual update on the DGFT portal.
• It is not needed for import or export of goods for personal use or by government departments.
• Quoting the IEC is compulsory on customs documents when importing or exporting goods.
• Banks need the IEC to process foreign remittances relating to trade.
• It is valid for all branches, units and factories of the importer or exporter.

Benefits

• Opens international markets to your business, whether you import raw material or export finished goods.
• No periodic returns are required; only the annual confirmation of details.
• Required to claim export incentives and duty benefits under the Foreign Trade Policy.
• Quick to obtain: the process is online and usually completes within 1 to 3 working days.

Documents you will need

• PAN card of the applicant, or of the company or partnership if applying in the entity's name
• Aadhaar card, passport or voter ID of the proprietor, partner or director
• Passport size photograph of the applicant
• Cancelled cheque or a bank certificate for the current account, with the account holder's name printed
• Address proof of the business: electricity bill, rent agreement, sale deed or lease deed
• Date of formation of the business and registration number where applicable
• List of partners or directors with address and phone number
• MOA and AOA, LLP agreement or partnership deed for entities