All businesses which are engaged in Import and Export of goods compulsorily require Import Export Code / IEC Registration.

What is Import Export Code?

Import Export Code (in short IEC Code) is a ten digit number with permanent validity granted by Directorate General of Foreign Trade under Ministry of Commerce and Industry, to any bonafide person/ company for carrying out import/export. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.

When will there be requirement of IE code?

At following instances the IE Code would be required:

• When an importer has to clear his shipments from the customs then it’s needed by the customs authorities.
• When an importer sends money abroad through banks then it’s needed by the bank.
• When an exporter has to send his shipments then it’s needed by the customs port.
• When an exporter receives money in foreign currency directly into his bank account then submission of IEC is required by the bank.

One doesn’t need to be a registered entity to apply for import export code; you can apply even as an individual. IEC Certificate is also known as Export License, Import License, IE Code, IEC code, EXIM License. All have the same meaning.

Important Note: As per the recent notification from the GDFT, One needs to renew / update the IEC License every year during April to June.

Suggested read: An Exporter can get GST Exemption by Filing LUT

Instant Professionals is a group of intellectuals. The entire team of Instant Professionals consists of Highly qualified CA, CS, Lawyers and business administrators. Instant Professionals would be a one stop destination for your Import Export code registration registration in Mumbai. We also provide services like Start up advisory, Secretarial compliance services, PAN / TAN application, DIN registration, GST registration, Trademark registration, GST / Income tax return filing and many more. You may get in touch with our compliance manager on 09643203209 or email at info@InstantProfessionals.in for free consultation and to know more about the services provided by us.