WHAT IS IMPORT EXPORT CODE ?

IEC(Import Export Code) is known as many names such as importer exporter code, import export code, import export license, import export number, IE code, IEC license, IE license etc. In simple terms, IE CODE NO. is a 10 digit code which is provided by DGFT required for import export transactions. You can take IE code in your personal name or company name.

An IEC number issued to applicant shall be valid for all its divisions/ units/ factories/ branches. IEC is valid for lifetime and there is no need to renew the same.

FEATURES OF IMPORT EXPORT CODE

•  Business growth
•  Export Subsidies
•  Lifetime validity
•  No Return Filing
•  Individuals can have IE Code

VALIDITY OF IE CODE

IE Code registration is permanent registration which is valid for life time. Hence, there will be no hassles for updating, filing and renewal of IE Code registration. It is valid till the business exists or the registration is revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing.

As IE code registration is one-time and require no additional compliance, it is recommended for all companies and LLPs to obtain IE code after incorporation.

IEC DOCUMENTS REQUIRED

•  Copy of PAN Card
•  Passport size photograph
•  Copy of Aadhaar Card/ Voter identity card
•  Authorization letter (In case of Partnership)
•  Authority from other Directors on letter head (In case of company)
•  Copy of Partnership deed (In case of Partnership)
•  Board Resolution/self declaration (In case of Company)
•  Telephone Bill in the name of the Individual (In case of individual)
•  Cancelled cheque of individual