IMPORTER - EXPORTER CODE (IEC)

An Importer-Exporter Code (IEC) is a key business identifying number that must be used while exporting from or importing into India. Unless specifically exempted, no one should export or import without first receiving an IEC. However, IEC is not required for service exports unless the service provider is utilizing Foreign Trade Policy benefits.

As a result of the implementation of GST, the IEC issued is the same as the firm's PAN. The IEC, on the other hand, will be issued independently by DGFT based on an application. The type of businesses that applies for an IEC can be a sole proprietorship, a partnership, an LLP, a limited company, a trust, a HUF, or a society.

IEC Application Pre-Requisites

IEC can be used on behalf of a company that is a sole proprietorship, partnership, limited liability partnership, limited company, trust, HUF, or society.

Before enrolling, the company must have a PAN, a bank account in its name, and a valid address. On issuing of the IEC, the DGFT may physically verify the address. Before applying, please have your PAN, bank account information, and firm information handy.

IEC Procedures

1. an application for IEC : For IEC application, there are few documents required under the name of the firm, those are - PAN, bank account, and a valid address in its name. On issuing of the IEC, the DGFT may physically verify the address. Before you apply, you should have your PAN, bank account information, and firm information handy.
2. Profile to be linked with your IEC : Link your IEC with your user profile if it is in case IEC is already registered. For this, you'll need a digital signature. So, before you link, make sure you have your digital signature token ready.
3. Browse the IEC's profile : The IEC is the most important component of the profile. The Importer - Exporter profile captures key information about an importing or exporting company that has been registered with the DGFT. In relation to IEC, this profile includes information such as RCMC, Industrial Registration, Status Holder Information, and Past Export Performance.
4. IEC Amendments : To modify your IEC, You must click on the modification segment and make changes to the IEC details as per requirement before submitting the request for an auto-approved modification.
5. IEC Withdrawal : Request for IEC surrender through the internet. Any activities will be suspended, and the IEC will need to be revoked by filing a revocation of suspension.
6. IEC Withdrawal : You should first request for the removal of IEC from the Denied Entity List (DEL) and then reapply for DGFT benefits and schemes.
7. Reverse the suspension request : In the event that your IEC has been suspended or surrendered, you should submit a request to have it lifted.
8. users affiliated to IEC : A given IEC can have more than one user connected to it. Primary and secondary users can be added. You can also give a specific user permission to access each of the schemes under DGFT.