IEC is a 10-digit code issued by Directorate General of foreign Trade (DGFT) in India. It is suitable for those who want to enter the international business.
IEC is required for import of goods into India and export of goods outside India. Helps track and manage foreign trade.
Individuals or business entities involved in import or export activities must obtain an IEC, including sole proprietors, partnerships, corporations and others.
You can apply online through DGFT website by submitting the required documents and paying the application fee.
Yes, there is a minimal fee for IEC application processing, which varies depending on the type of application entity.
Processing time may vary, but typically takes 3-7 business days after application submitted.
You must update any changes to your details, such as change of address or ownership.
No, an Importer Exporter Code (IEC) is issued to a specific entity (business or individual) and is linked to their PAN (Permanent Account Number). It cannot be used for multiple business entities. Each separate business entity or firm must obtain its own IEC for import and export activities.
If you miss IEC, you can apply for duplicate IEC through DGFT portal by providing necessary information and documents.
PAN Card, Identity Proof, Address Proof, Bank Details, Passport size Photo and any other document specified by DGFT.
