IEC is mandatory for all types of Import and export business in India. Liberalization helped th...
Import Export Code (IEC) contains 10 digit number which is issued by the Director General of Foreign Trade, Department of Commerce. It is required to obtain by every person involved in international trade of Export and Import, or we can say that every person who is engaged in the business of selling of goods or services in international markets it is required to obtain Import Export Code.
In any business which involves the foreign transfer, it is required to obtain an IEC number. The IEC number is used for clearing the goods from the customs authority. The size of the business doesn’t matter, without IEC number no seller can import or export goods.
To apply for an Import Export Code number an application is required to be filed with the authority with the requisite fees. It can be filed through an online portal.
Here is the list of following documents that are required to be attached to the application:
In case IEC number lost or misplaced, the request is made to the issuing authority to grant a duplicate copy of IEC number.
For a filing of a request for duplicate IEC number in case of lost or misplaced, the following documents need to be accompanied:
In case IEC holder does not wish to operate the allotted IEC number then he can surrender the same by intimating the issuing authority. The issuing authority after receiving the intimation shall cancel the same and transmit it to DGFT for further transmission to the customs and to other regional authorities to intimate them about the IEC number which has become inoperative.
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