An Importer Exporter Code (IEC) is a key business identification number that is mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC. For services exports, however, IEC shall not be necessary except when the service provider is taking benefits under the Foreign Trade Policy. An individual or a business entity needs a 10 digit code to import or export products or services. This code is known as Import Export Code or IEC and it is issued by DGFT, Ministry of Commerce and Industries, Govt. of India
Customs authorities need it to clear shipments during imports.
The bank needs to transfer the money when imports are made.
Similarly, during export shipments, the IEC is required.
When an exporter is supposed to receive money in foreign currency, an IEC code is required to transfer the money to his account directly.
The IEC code registration is applicable for all business registrations:
Two Colour Photographs of Promoters/Individuals/ Company/ Director
PAN Card of each Shareholder and directors
Identity Proof (Voter ID / Driving License/ Passport)
Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill)
Proof of Registered Office
Utility Bill as proof must be Latest