IEC Code – What is IEC Code? How to Apply?

The IEC Code stands for Import Export Code. It is a unique 10 digit registration code issued by Government of India’s Directorate General of Foreign Trade (DGFT). The IEC number is a prerequisite for any import-export business in India, as it makes it easy for Government of India to track and manage shipments. This trade usually pertains to goods and services. There are, however, exceptions when the IEC Code is not required.

In August 2018, the IEC Code was integrated with PAN Card in response to various internet browser-related problems faced by applicants. But since the new policy issued by the government, GST is not necessary for the IEC Code. As a result, the new IEC Code number is an electronic-IEC Code (e-IEC) which can be applied for online and it is the same as the PAN number of the applicant.

Why IEC Code is required?

Listed here are some of the important benefits of having an IEC Certificate:

• Any individual can get an IEC Code, by applying for it before the start of their export operations.
• Once issued by DGFT, the IEC Code validity stays for a lifetime and does not expire, nor it needs to be renewed by the IEC code holder.
• Having an IEC Code doesn’t require you to file any return and you need not inform the DGFT about the transactions made using the IEC Code.
• Having an IEC is a prerequisite to be eligible for various benefits from Customs, the Export Promotion Councils (EPC), and the DGFT from time to time.
• There is no annual maintenance cost or fee involved in retaining the IEC code.
• The process of getting an Import Export Code Certificate is very simple. It can be done online or, as mentioned earlier, as a PAN-based registration process. The documents required for the IEC Code registration is explained in the next section.

What are the documents required for IEC Code online application?

The Government of India has made it very easy and quite straight-forward to apply for an IEC Code. The documentation needed for a fresh e-IEC application are:

• Bank Certificate for IEC Code – ANF-2A or a Pre-printed Cancelled Cheque
• Address Proof of the firm

The Address Proof can take any of the following forms:

• Sale deed/Rent agreement/Lease deed/Electricity bill/Telephone landline bill/location/Mobile postpaid bill/MOU/Partnership deed – any one of these documents (depending on the type of business entity you have chosen)
• Aadhaar Card/Passport/Voter ID – any one of these documents can be used if the applicant owns a Proprietorship concern
• A No Objection Certificate (NOC) from the owner of the company’s premises/location in favor of the company, along with the Address Proof, should be submitted as a single PDF document – in case the Address Proof is not in the name of the applicant company.

As of August 2018, only the documents mentioned above need to be uploaded electronically. The document should be uploaded in digital format – PDF or JPEG, and the size of the file shouldn’t exceed 5MB.