IEC (Import Export Code) is a mandatory business identification number that is required to be declared by a business entity while importing or exporting any goods/ commodities in and out from India. However, the declaration of IEC is not mandatory for service providers except when they are claiming benefits under the Foreign Trade Policy.
IEC, a 10-digit code that has lifetime legitimacy and is given by the DGFT (Director General of Foreign Trade).
1. While getting an import/ export shipment cleared from the Custom Authorities
2. While transferring funds for the purpose of import/ export via banks
3. When an exporter receives sale proceeds in foreign currency directly into his bank account then it is required by the bank as a matter of compliance.
As per the circulars issued by the Government authorities, IEC is not mandatory for:
In the first place, on your behalf, we draft an application in the prescribed format (Aayaat Niryaat Form ANF-2A) and file it with the regional office of DGFT.
SSI then combines the necessary records, such as your identity proofs, address proofs, bank details, and the certificate regarding ANF2A.
Once your application is ready, we validate the same with your DSC (Digital Signature Certificate), file it at the online portal of DGFT; and pay the prescribed fee for your IEC Registration.
At last, when your application is approved by DGFT, your IEC Code is sent to your registered email address.
For IEC Code Registration following reports are required: