Import Export Code
If you want to do business abroad by immporting and exporting products, you basically need IEC and other Licences like Apeda for agriculture products and many more.
For more details please contact us
Here are some frequently asked questions (FAQs) related to Import Export Code (IEC):
General FAQs
1. An Import Export Code (IEC): What is it?
Businesses engaged in import and export operations in India are obliged to have an IEC, a unique 10-digit identification number issued by DGFT.
2. Who must submit an IEC application?
An IEC is required for any person or company wishing to import or export goods and services from or to India.
3. Is IEC required for every export and import?
Yes, commercial import and export transactions require IEC.
4. How can I submit an IEC application?
Applications for IEC are made online using the DGFT portal. Uploading required files, and paying the required fee are the steps in the procedure.
5. What is the IEC's validity?
IEC does not need to be renewed; it is valid for life. On the DGFT portal, it must be renewed once a year, always.
6. What is the processing time for IEC?
After the application is submitted, an IEC is normally issued 1–5 working days later.
7. Can I change my IEC details?
Yes, the DGFT portal allows for the online modification of IEC details including bank account information, business name, and address.
8. Can multiple organizations use the same IEC?
No, every company needs to submit a different IEC application. However, a single IEC can be applied to all of the same company's branches and units.
9. Does service exporting require IEC?
Yes, if the exporter is claiming benefits under the Foreign Trade Policy, IEC is necessary for service exports.
10. Is it possible to cancel or relinquish IEC?
Yes, if the company stops engaging in import/export operations, IEC can be voluntarily relinquished or cancelled online via the DGFT portal.
