Import Export Code (IEC)
A 10-digit mandatory code issued by the Directorate General of Foreign Trade (DGFT) for Indian businesses intending to import or export goods and services. Required by customs authorities and banks for inward/outward forex remittances.
Key benefits
- Global Market Access: Legally clears your goods through Indian Customs ports.
- Forex Realization: Banks require IEC to credit foreign currency payments to your account (e.g., FIRC/e-BRC generation).
- Export Subsidies: Eligible to claim benefits under schemes like RoDTEP, SEIS, and MEIS from the Customs/DGFT.
- Lifetime Validity: No renewal required (though an annual update on the DGFT portal is now mandatory).
Documents required
- PAN Card of the entity/individual.
- Aadhaar Card of the applicant.
- Cancelled Cheque or Bank Certificate in the prescribed format.
- Address proof of the business.
- Digital Signature Certificate (DSC) for entity applications.
How it works
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1
DGFT Profile Creation
Registering on the new DGFT portal and linking DSC/Aadhaar.
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2
Form ANF 2A
Filing the detailed application with branch details and partner/director particulars.
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3
Payment
Paying the nominal government fee online.
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4
Approval
The IEC is auto-generated by the system in most cases and sent to the registered email.
Frequently asked questions
Do freelancers exporting IT services need an IEC?
Technically, IEC is not mandatory for export of services unless you are claiming benefits under the Foreign Trade Policy. However, many banks demand an IEC to process high-volume inward foreign remittances. It is safer to obtain one.
Is there any compliance required after getting IEC?
Yes. From 2021, the DGFT requires every IEC holder to update their IEC profile electronically every year between April and June, even if there are no changes. Failure leads to deactivation.
Does IEC require a separate return filing?
No. IEC itself does not have a monthly or annual tax return like GST.