IEC is mandatory for businesses who are indulged in import or export transactions and availing benefits under various Government schemes.
All Indian businesses carrying transactions involving import / export of goods must obtain their respective IEC for trouble-free operations regarding their import / export deals. Not just large or registered entities, IEC can even be applied by individuals who are indulged in international transactions through their import / export venture. Generally, IEC is not mandatory for all the imports / exports transactions, such as businesses operating under technology and services domains. Government, however, in the national security interest has mandated the IEC for importing / exporting certain restricted goods, including arms and ammunition, and other businesses involved in international trading of such prohibited items.
Issued by the Directorate General of Foreign Trade (DGFT), IEC is a unique 10-digit alpha-numeric code that provides businesses / individuals with an identity that is valid at all Custom and DGFT offices across India. Moreover, businesses or individuals with IEC can enjoy numerous benefits through various Government initiatives, including Merchandise Export from India Scheme (MEIS) or Service Export from India Scheme (SEIS), Export Promotion Council (EPC), and others.
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To be Submitted by Promoters / Proprietors
To be Submitted by Partners / Directors
+ Govt. IEC Fees (Rs 500)