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IMPORT EXPORT CODE (IEC Code) ( 1 unit )

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IMPORT EXPORT CODE (IEC Code) (IEC)


    Important Points

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What is IEC?

IEC Stands for IMPORTER EXPORTER CODE.
Legal Provisions As per section -7 of Foreign Trade (Development and Regulation) Act, 1992 Importer-Exporter Code Number -
"No person shall make any import or export except under an Importer-exporter Code Number granted by the Director-General or the officer authorized by the Director-General in this behalf, in accordance with the procedure specified in this behalf by the Director-General."

Who requires an IEC?

Any bonafide person/ company starting a venture for International trade.
Following categories of importers or exporters are exempted from obtaining IEC number:
(i) Importers covered by clause 3(1) [except sub-clauses(e) and (l)] and exporters covered by clause 3(2) [except sub-clauses (i) and (k)] of Foreign Trade (Exemption from application of Rules in certain cases) Order, 1993.
(ii) Ministries / Departments of Central or State Government.
(iii) Persons importing or exporting goods for personal use not connected with trade or manufacture or agriculture.
(iv) Persons importing/exporting goods from/to Nepal, Myanmar through Indo-Myanmar border areas and China (through Gunji, Namgaya Shipkila, and Nathula ports), provided CIF value of a single consignment does not exceed Indian Rs.25, 000. In case of Nathula port, the applicable value ceiling will be Rs.100,000. However, exemption from obtaining IEC number shall not be applicable for export of Special Chemicals, Organisms, Materials, Equipments, and Technologies (SCOMET) as listed in Appendix- 3, Schedule 2 of ITC (HS) except in case of exports by category (ii) above.

Can Export/Import be made without IEC?

No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer

What are the benefits of IEC?

On the basis of IEC, companies can obtain various benefits on their exports/ imports from DGFT, Customs, and Export Promotion Council etc.

Where to obtain an IEC?

Any person or Organization requiring an IEC may contact onlinecompany.co.in for getting the IEC within few days only.

What are documents required for Fresh-IEC ?

In case of fresh e-IEC
1)Digital Photograph (3x3cms) of the Signatory Applicant
2)Copy of PAN card
3)Bank Certificate or cancelled bearing the applicant entities name