The Importer Exporter Code (IEC) is a ten digit number granted by the Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export. Below are some clarifications in the form of FAQs about the IEC Code which is necessary for importing and/or exporting.

1. What is the IEC?

Ans: IEC or Importer Exporter Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies and individuals to enable them carry International Trade.

2. Why is the IEC required?

Ans: To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number, unless specifically exempted.

3. Who can get an IEC?

Ans: An individual or a company who wants to do international business can get an IEC.

Individuals can use either the name of their company or their name directly to apply for IEC.

4. Who issues the IEC?

Ans: IEC is issued by Directorate General of Foreign Trade (DGFT) which is under Ministry of Commerce.

5. What is the fee for IEC?

Ans: Application fee to get IEC is INR 500/-

6. What is the validity of an IEC?

Ans: An IEC allotted to an applicant shall have permanent validity.

7. Is there any application form for applying for IEC?

Ans: Yes. Application has to filed in ANF 2A format for grant of IEC

8. Where I can find the application for applying for the IEC?

Ans:

• Go to www.dgft.gov.in/         
• Go to Quick links select Apply for New IEC/ Modify existing IEC.
• Enter PAN and press search button.    
• The system will prompt for the following: (a) Name of Company (b) Date of Birth/Incorporation (DOB/DOI)
• The system will verify your details from the CBDT PAN Web Server and then it will direct to DGFT- IEC application enabling you to file for fresh IEC application.

9. What is the technical requirement for filing an IEC?

Ans: Internet Explorer 11 or above, chrome 6.3.2 or above with JavaScript enabled.

10. What are the documents required for filing IEC?
Ans: The applicant is required to submit online application with the following details/documents (scanned copies to be submitted/uploaded) along with the IEC application:

• Cancelled cheque bearing entity’s pre-printed name or Bank certificate   in prescribed format ANF-2A(I);
• Address proof of the applicant entity as detailed in the application.

Changes in IEC with the introduction of GST 

·  As a measure of ease of doing business, it has been decided to keep the identity of an entity uniform across the Ministries/Departments. Henceforth, PAN of an entity will be used for the purpose of IEC, i.e., IEC will be issued by DGFT with the difference that it will be alpha numeric (instead of 10 digit numeric at present) and will be same as PAN of an entity.

· For new applicants, w.e.f. 12.06.2017, application for IEC will be made to DGFT and applicant’s PAN will be authorised as IEC. For residuary categories under Para 2.07 of HBP 2015-20, the IEC will be either UIN issued by GSTN and authorised by DGFT or any common number to be notified by DGFT.

· Further, for existing IEC holders, necessary changes in the system are being carried out by DGFT so that their PAN becomes their IEC. DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard. IEC holders are required to quote their PAN (in place of existing IEC) in all their future documentation, w.e.f. the notified date. The legacy data which is based on IEC would be converted into PAN based in due course of time.

Article source: https://www.fieo.org/view_section.php?lang=0&id=0,30,1703

To explore business opportunities, link with me by clicking on the 'Invite' button on our eBiz Card.

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.