What is the Importer-Exporter Code?
The Importer-Exporter Code (IEC) is a unique alphanumeric code allotted by the Director General of Foreign Trade under the provisions of the Foreign Trade (Development and Regulation) Act, 2023 (which has succeeded the FT(D&R) Act, 1992). It shall be indicated on all copies of the declaration forms submitted by the exporter to the specified authority and in all correspondence of the exporter with the authorised dealer or the Reserve Bank, as the case may be.
The current Handbook of Procedures under the Foreign Trade Policy 2023 sets out the procedure to be followed for obtaining an IEC, which is PAN-based. As on date, the PAN has one-to-one correlation with the IEC.
After the introduction of GST, business entities requiring an Import Export Code must file their application online with DGFT. Upon approval and registration, the entity’s PAN is authorised and recorded as the IEC Code.
An IEC number allotted to an applicant shall be valid for all its branches / divisions / units / factories and is valid for the lifetime of the entity, subject to annual confirmation / updation on the DGFT portal.
Therefore, to import or export goods in India, obtaining an IEC Code is mandatory. No person or entity shall undertake any import or export without an IEC. On the basis of IEC, entities can obtain various benefits on their exports / imports from DGFT, Customs, and Export Promotion Councils. Accordingly, in order to avail export-promotion benefits such as RoDTEP, RoSCTL, EPCG, Advance Authorisation, etc. (the schemes operative under FTP 2023), an IEC is mandatory.
As per the provisions of the Foreign Trade Policy 2023 and applicable DGFT circulars, the procedures detailed below are in effect for IEC post-GST implementation.
Current IEC procedure post-GST
- An importer / exporter is required to declare only GSTIN at the time of import and export of goods.
- Under the current system (post-GST implementation), the PAN of an entity is used for the purpose of IEC. The IEC issued by DGFT is alphanumeric (the same as the entity’s PAN) instead of the earlier 10-digit numeric format.
- For new applicants, the application for IEC is made online to DGFT and the applicant’s PAN is authorised as the IEC.
- For residuary categories under the current Handbook of Procedures of FTP 2023, the IEC will be either a UIN issued by GSTN and authorised by DGFT, or any common number as notified by DGFT.
Migration of legacy IEC to PAN-based IEC
- For the 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 existing IEC) in all their future documentation, with effect from the notified date.
- The legacy data which is based on IEC would be converted into PAN-based in due course of time.
As per the current provisions of the Foreign Trade Policy 2023 and applicable DGFT notifications regarding IEC, the following applies:
- For services exports, IEC is necessary as per the provisions in Chapter 3 of the FTP, only when the service provider is availing benefits under the Foreign Trade Policy.
- The application process for IEC is completely online; the IEC can be generated by the applicant as per the procedure detailed in the Handbook of Procedures under the Foreign Trade Policy 2023.
Information & documents for applying for IEC
- Email and mobile number of the entity.
- PAN Card of the entity.
- Registered address of the entity.
- Statutory document — MOA / AOA / Incorporation Certificate / Partnership Deed, etc.
- Nature of activity of the entity.
- Entity’s Bank Name, Bank Account Number, Branch Name, IFSC Code.
- Owners / Promoters and Directors details — Name, ID & address proof, PAN and contact details.
- Branch address (if any).
- Sales deed / rental agreement / lease agreement for the entity’s address along with electricity bill or telephone bill or property tax paid receipt.
- Bank certificate / pre-printed cancelled cheque.
- Filing fee: The filing fee for Import Export Code is as per the current DGFT fee structure (presently Rs. 500, subject to revision). This fee is to be deposited online while applying for the Import Export Code (IEC).
- Signed application form for IEC.
Other registrations we handle
- Registration under Karnataka Shops and Commercial Establishments Act 1961
- MSME or Udyog Aadhar Registration
- Professional Tax Registration
- Registration under Employee Provident Fund
- Registration under Employee State Insurance
- STPI or Non STPI Registration
- Trade License from BBMP
- APEDA Registration
- FSSAI
Talk to a partner.
A 30-minute call with a partner — no deck, no follow-up email blasts. Just a read on whether we’re the right team to handle your IEC registration.