Importer Exporter Code
What is Importer Exporter Code?
Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and doesn't require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
IE Code application must be made to the Directorate General of Foreign Trade along with the necessary supporting documents. Once, the application is submitted, DGFT will issue the IE Code for the entity in 15 - 20 working days or less.
The IEC is a 10-digit code with permanent validity issued by the Directorate General of Foreign Trade. All businesses engaged in importing and exporting goods must have an Importer Exporter Code Data Check
Data Check
Vendor Connect
Receipt of License
Essential Facts on Importer-Exporter Code
The IEC, once issued, is valid throughout the county, in all your branches or factories. It needs to be quoted while your goods go through customs and while sending money abroad or receiving money from abroad.
The IEC is just a code. Once you have it, you can begin importing and exporting. You don't need to file the transactions done under this code or pay any taxes.
Even individuals who are proprietors of a business can obtain IE Code in their name. It is not necessary to incorporate a business entity for obtaining IE Code.
All Exporters who export goods or services from India require an IE Code. The IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
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