FAQs on Import and Export code (IEC) – Part 1

In this article, we are going to discuss important FAQs related to IEC code. We have already discussed important documents required for IEC code registration. If you want to read more on documenatation required for IEC registration then you can click here–

Q – What do you mean by IEC?

A – IEC stands for Import Export Code. IEC registration is required by a person for exporting or importing goods. It’s a 10 digit Code or Import Export License Certificate issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India to Indian Companies.

Q – Who should register for IEC?

A – Only those people should register for IEC code, who want to import or export good from India.  All businesses which are engaged in Import and Export of goods within India  require registering IEC. Importers/Exporters are not allowed to make any import or export without this code. However, certain categories of importers or exporters are exempt from obtaining IE Code. IEC is compulsory for any importer/exporter operating in India.

Q – How much time time does it take to get IEC code?

A – Usually, It takes 2-3 working days from submission of application with all documents to get a valid IEC code from authority.

Q – Who is the Issuing authority for IEC code?

A – IEC code is issued by Directorate General of Foreign Trade (DGFT) which is under Ministry of Commerce, Government of India. It is issued as e-IEC ( electronic IEC) in electronic form.

Q – What documents are required for getting a IEC code?

A – Detailed list of documents has already been provided in our previous articles. You can access the same here. Two documents that are mandatory required are address proof of firm or individual and bank account proof for validation.

Q – What is the validity of IEC?

A – An IEC allotted to an applicant shall have permanent validity.

Q – Is PAN card an essential requirement for obtaining a IEC code?

A – Yes, PAN card is compulsorily required to register for IEC code. PAN card of individual ( for proprietorship) and PAN card of firm is required.

Q – How many IEC can one get?

A – Authority will issue only One IEC against a single PAN (i.e. One PAN = One IEC). Any proprietor can have only single IEC number. Incase there are more than one IEC’s allotted to a proprietor, the same may be surrendered to the Regional Office for Cancellation.

In this article, We have covered few important FAQs related to IEC code. To read article on documents required for IEC code registration, you can visit this link.

Related posts:

PAN card FAQs on Import and Export code (IEC) – Part 2 IEC Code Documents required for IEC code registration – Part 3 Documents required for a new IEC code registration – Part 1