1. What is IEC?
IEC or Importer Exporter Code is unique 10 digit code issued byDGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies and individuals to enable them carry International Trade.
2. Why is IEC required?
To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number, unless specifically exempted.
3. Who can get IEC?
An individual or a company who wants to do international business can get an IEC. Individuals can use either the name of their company or their name directly to apply for IEC.
4. Who issues IEC?
IEC is issued by Directorate General of Foreign Trade (DGFT) which is under Ministry of Commerce.
5. What is the fee for IEC?
Application fee to get IEC is Rs. 500/-
6. What is the validity of IEC?
An IEC allotted to an applicant shall have permanent validity.
7. Is there any Application form for applying IEC?
Yes. Application has to filed in ANF 2A format for grant of IEC
8. Where I can find application for applying IEC?
· Go to www.dgft.gov.in/
· Go to IEC (How to apply IEC)
· Select Manual application to get ANF 2A
9. What is the technical requirement for filing an IEC?
Changes in IEC with the introduction of GST
· As a measure of ease of doing business, it has been decided to keep the identity of an entity uniform across the Ministries/Departments. Henceforth, PAN of an entity will be used for the purpose of IEC, i.e., IEC will be issued by DGFT with the difference that it will be alpha numeric (instead of 10 digit numeric at present) and will be same as PAN of an entity.
· For new applicants, w.e.f. 12.06.2017, application for IEC will be made to DGFT and applicant’s PAN will be authorized as IEC. For residuary categories under Para 2.07 of HBP 2015-20, the IEC will be either UIN issued by GSTN and authorized by DGFT or any common number to be notified by DGFT.
· Further, for existing IEC holders, necessary changes in the system are being carried out by DGFT so that their PAN becomes their IEC. DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard. IEC holders are required to quote their PAN (in place of exisiting IEC) in all their future documentation, w.e.f. the notified date. The legacy data which is based on IEC would be converted into PAN based in due course of time.