IEC Stands for IMPORTER EXPORTER CODE which contains 10 digit number issued by Director General of Foreign Trade, Department of Commerce, Government of India. All businesses engaged in importing and exporting goods required to obtain IEC.
Any bona fide person/ company starting a venture for International trade of Export and Import has to apply for IEC. If any foreign transfer on account of business, IEC number is mandatory.
It has permanent validity.
No. IEC a primary document for recognition by Govt. of India as Exporter / Importer. However, if value of goods is very low, the concerned customs officer may permit first export (only one time) by imposing penal charges.
IEC is required to avail any benefits provided to Exporter / Importer from DGFT, customs, Export Promotion Council etc.
IEC number is issued by Directory General of Foreign Trade at each regional offices where the exporter/importer situates.
The necessary application for IEC can be downloaded from DGFT website and follow procedures.
Yes, online application can be filed for issue of new IEC.
No, after filing application online, take a print out and attach the necessary documents submit. There is no additional requirements for filling form