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IMPORTER EXPORTER CODE (IEC)
Importer Exporter Code (IEC) is a unique 10-digit code issued by the Director General of Foreign Trade, Ministry of Commerce, and Government of India. To carry on import or export in India, IEC is mandatory. No person or entity shall make any import or export without IEC number.
If there is any change in the particulars of a company, changes in directors, change of address, an application has to be made to the Director General of Foreign Trade to effect such changes in the IEC Records/Certificate.
As per Foreign Trade (Development and Regulation) Act 1992 Importer-Exporter Code Number-No person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorized by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General. IEC forms the primary document for recognition by Government of India as an Exporter/Importer. On the basis of IEC, companies can obtain various benefits on their exports/imports from DGFT, Customs, Export Promotion Council etc.
Importer Exporter Code (IEC) is mandatory to carry on import or export in India. No person or entity shall make any import or export without IEC number.
IMPORTER EXPORTER CODE (IEC OR IE CODE)
Importer Exporter Code (IEC or IE Code) is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India.
VALIDITY OF IEC CODE NUMBER
An IEC number once allotted, shall be valid for the lifetime. All the branches/divisions/units/factories of the business shall have to be indicated in the IEC.
Changes in the Name, Constitution, Addresses and Addition of New Addresses can be added to the IEC details by filing a modification to the IEC.
CANCELLATION OR SURRENDER OF IEC
If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority. On receipt of such intimation, the issuing authority shall immediately cancel the same and electronically transmit it to DGFT for onward transmission to the Customs and Regional Authorities.