I.E Code

The Importer -Exporter Code (IEC) is a key business identification number which is mandatory for Exports or Imports. No person shall make any import or export except under an IEC Number granted by the DGFT. In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies

The nature of the firm obtaining an IEC may be any of the follows- "Proprietorship, Partnership, LLP, Limited Company, Trust, HUF and Society." Consequent upon introduction of GST, IEC number is the same as the PAN of the firm. The IEC would be separately issued by DGFT.

Validity of IE Code

IE Code registration is permanent registration which is valid for a lifetime. Hence, there will be no hassles for updating, filing and renewal of IE Code registration. It is valid until the business exists or the registration is revoked or surrendered. Further, unlike tax registrations like GST registration or PF registration, the importer or exporter does not require to file any filings or follow any other compliance requirement like annual filing.

As IE code registration is one-time and requires no additional compliance, it is recommended for all companies and LLPs to obtain IE code after incorporation.

IE Code Exemption

An Import Export Code is required for import of any type of goods by a business. However, the following category of persons are exempted from obtaining an IE Code:

Importer and export by central Government or agencies or undertakings for defence purpose or other specified lists under Foreign Trade (exemption from the application of Rules in certain cases) Order, 1993.

Import or Export of Goods for personal use.