Import Export Code or Importer Exporter Code(IEC) which is represented by a 10 digit number issued by Director General of Foreign Trade Obtaining this code is mandatory for bonafide companies or people who want to start a business of import and export in Indian territory. For example, if you are exporting any product from India to other any countries like USA, Dubai, you won’t be able to do so without an IEC license.
Obtaining an IEC requires the fulfillment of certain provisions to specific regulations. Director General of Foreign Trade (DGFT) has several regional offices throughout India, and it is possible to obtain IEC from the nearest zonal or regional office.
People who wanted to apply for an IEC code online had to submit a digital signature which led to significant confusion. To avoid this, The Director General of Foreign Trade (DGFT) has made changes in the process of applying for IEC. Essential changes include:
- A seller can obtain only one IEC code against one PAN.The PAN is now the IEC code.
- A digital signature will not be required for filling up the IEC form.
- Electronic PAN verification is enabled for ease of business.
The different steps involved in applying and getting Import Export Code (IEC) include:
1. Application form for IEC is now available online
2. Parts A, B, and D of an IEC application form are needed to be filled in and submitted for acquiring a new code.
3. An application should be made in form no. ANF 2A
4. A bank account and Permanent account number (PAN) and a valid mobile number are mandatory requirements for applying for an IEC
Documents Required for IEC
1.A canceled cheque.
2.Proof of address.
- Rent agreement
- Lease Deed
- Electricity bill
- Sale Deed
- Mobile Postpaid bill
- Telephone Landline bill
- MOU Partnership Deed
- Aadhar Card | Passport | Voter Id
[In case of address proof is not in the name of the applicant firm, A NOC (No Objection Certificate) by the firm owner in favor of the firm along with the address proof is to be submitted as a PDF document]