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IEC full form is Importer Exporter Code. It is a 10-digit code issued digitally by the Directorate General of Foreign Trade (DGFT). If you want to start an import or export business, it is mandatory for you to obtain an IEC. For this, you must file an online application via the official DGFT portal.
IEC full form is Importer Exporter Code. It is a 10-digit unique code issued by the DGFT to authorize a business to engage in import or export of goods. To secure IEC registration, you need to visit the official DGFT portal and apply there. After the introduction of GST, the IEC is PAN-based, meaning the IEC number is the same as the applicant’s PAN. However, IEC is still issued separately, and you must apply for it even if you already have a PAN.
IEC comes with lifetime validity and does not require traditional renewal. With that being said, it must be updated annually between April and June to remain active. Failure to comply with this requirement will lead to IEC deactivation.
In this section, we have mentioned some examples of the kind of products that generally require an IEC:-
Businesses that import consumer goods, food products, etc., require an IEC. Some common examples are mentioned below:
Swiss chocolates and confectionery
Japanese or Korean instant noodles and snacks
Mexican avocados, Thai Guava, Muscat grapes and other exotic fruits
Italian olive oil and gourmet sauces
Chinese electronics and mobile accessories
Korean and American cosmetics and skincare products
French perfumes
UAE Attar
Chinese fashion accessories
Imported dry fruits such as Californian almonds, Afghan figs and walnuts and Irani pistachios.
In a similar fashion, businesses exporting goods from India to international markets also require IEC registration. Some common examples of products requiring IEC are as follows:
Indian Basmati Rice
Indian Mustard Oil
Indian spices like saffron, turmeric, cumin and cardamom
Assamese, Nilgiri and Darjeeling Tea
Karnataka and Kerala Coffee
Kashmiri Pashmina Shawl
Unani, Ayurvedic and herbal products
Leather goods
Generic Drugs
Marine products like shrimp, prawn and fish
The IEC’s importance can be understood with the help of the above-mentioned points:
Enables a business to import goods into India or export goods out of India.
Allows the Indian government to record and keep an eye on foreign trade transactions.
At the customs check points, the IEC serves as the primary identifier for customs passes. Without this code, the goods cannot be passed through in a legitimate manner.
To process foreign currency payments, banks require a valid IEC.
Ensures compliance with DGFT regulations.
Active IEC allows the holder to take advantage of govt incentives and schemes.
IEC stands for Importer Exporter Code. This code allows a business to conduct import or export activities. It is applied for and issued online via the DGFT portal. Interestingly, IEC code is the same as PAN no. but that doesn’t mean you don’t need to apply for IEC after obtaining PAN. You need to file for IEC separately via the portal. All the imported products that you purchase like chocolates, noodles, candies, fashion accessories, electronics and other consumer goods are brought into the country by businesses that hold a valid IEC.
Without this code, no entity can legally engage in cross-border trade. This makes IEC a fundamental requirement for anyone looking to enter the import-export business in India. Need assistance in IEC registration? Connect with our experienced consultants at Registrationwala.
Q1. What is IEC full form in export?
A. IEC full form in export is Importer Exporter Code. It is a unique identification number that the DGFT issues to a business, authorizing them to conduct import/export operations.
Q2. Who issues IEC in India?
A. The Directorate General of Foreign Trade (DGFT) issues IEC in India. The code is applied for and issued digitally via the official portal of DGFT.
Q3. Do I need IEC for rice export business?
A. Yes, you require IEC for rice export business.
Q4. Is it mandatory to obtain IEC to import lentils?
A. Yes, it is mandatory to obtain IEC if you want to import lentils.
Q5. Are IEC digits the same as PAN Card digits?
A. Yes, the IEC digits are the same as the digits mentioned in the PAN Card. Although they share the same digits, you still need to apply for IEC separately via DGFT portal.
Q6. What is IEC full form in Hindi?
A. IEC full form in Hindi is आयातक निर्यातक कोड.
Q7. How can I apply for IEC?
A. You can apply for IEC by visiting the IEC portal. On the portal, you must submit an online application along with the necessary documents.
Disclaimer :- This blog post is meant for educational purposes only. While we have made every effort to provide our readers with accurate and complete information in this post, we cannot guarantee its full accuracy or completeness. Information in this content should not be interpreted as professional, academic, business, financial or legal advice.
Hi, I'm Sachin Chawla. I’m a commerce graduate from Agra University and a Chartered Accountant (2015) with DISA certification. I focus on helping businesses with formation, management, tax and FEMA matters, business licenses and regulatory compliance, IP advisory, risk management and auditing among others. Through my articles, I aim to share my expertise and provide practical guidance in these areas.
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