Import Export Code (IEC) is a 10-digit unique code that is issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India. It is a mandatory registration for any person or entity seeking to engage in import or export activities in India.
The IEC is essentially a registration number that is used to track all imports and exports by the government. It is a legal requirement for any person or entity that wishes to import or export goods or services from India. Without an IEC, one cannot import or export any goods or services from India.
To obtain an IEC, an application needs to be submitted to the DGFT through an online portal or in person at a regional DGFT office. The application must be accompanied by certain documents, such as a PAN card, bank account details, and proof of address.
Once the application is processed and approved, the DGFT will issue the IEC to the applicant. The IEC is valid for the lifetime of the entity or person, and no renewal is required.
According to a recent announcement from the DGFT, the IEC License must be renewed or updated every year between April and June.