What is Import Export Code (IEC)?
An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted.
For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.
Anyone can apply IEC from DGFT website through this link https://www.dgft.gov.in/CP/
Documents required for application:
- Pan of entity.
- Valid address proof of principal place of business.
- Bank account in the name of business entity.
Updation and modification in IEC:
As per notification 58/2015-2020 dated 12.02.2021 issued by Ministry of Commerce & Industry, an IEC holder has to update its IEC electronically every year from April to June. If there is no change in the IEC particulars, then also updation and confirmation are required from the IEC holder.
If an IEC holder fails to update his IEC in the specified period, his IEC will become inactive and will only be activated after updation. It is essential to provide correct particulars at the time of registration/updation of IEC to save from any scrutiny proceedings.
Following authentication options may be used on the DGFT Website for updation / modification–
- Aadhaar e-sign – Any of the proprietors/partners/directors can use their Aadhaar given that their name and PAN are correctly mentioned under the IEC.
- Individual Digital Signature Certificate (DSC) Token – DSC in the name of the proprietors/partners/directors can be used given that their name and PAN are correctly mentioned under the IEC.
- Organization-based DSC – DSC in the name of the organization can use given that the firm name of the IEC matches the firm name on the DSC.
- IEC-based DSC – DSC with the IEC Number embedded in it would also work for linking and updation of IEC.
Download the official notification with the following link: