IEC is known as many names like Importer Exporter code, Import Export Code, Import Export Licence, Import Licence, Export Licence, Import Export Number, Import Number, Export Number, IEC Code etc.
IEC is a 10 Digit Code and compulsorily required for Import or Export of any goods in and out for India. IEC is mandatory only in case of Commercial Import and Export activity. If you are sending any goods fo personal use, IEC is not require.In case of Services also, IEC is only require when selling any service or know how which is restricted by Government of India. In normal Export of services, IEC is not require.
IEC code can be taken in personal name or company name also. Having Bank account is compulsory for getting the IEC Code. IEC code comes under the Foreign Trade Act, 1992.There is no requirement of filling of any return in case of IEC.
IEC code also known as Import Export code is provided by DGFT ( Director General of Foreign trade. It is a 10 Digit Number and provided once. At a time, a PAN Card can have only 1 IEC Code.
If you are doing any import or Export, you must have IEC ie Import-Export Code. By IEC Code only, you can do the Import in India and can export outside India. IEC Code is a one time Process and You need not to file return for the same.
IEC once issued, will valid for life time until cancel. IEC issued on PAN Number so if a company having more then one office then also only One IEC Code will applicable to all branches. No separate IEC require for each Branch. There is no need to file any return and no need to file any renewal for IEC.
If a company wants to modify any details in IEC, then it can be done online only. IEC modification can be done only after submitting all the documents again with require changes, Modification process is difficult then original process of IEC.
From 1st April 2016, DGFT has stopped issuing any physical IEC certificate. Now IEC certificate came online only and status can be checked online. The new IEC is also known as e-IEC ( Electronic Import Export Code). There is no sign and stamp requirement on IEC certificate now.
If you have taken IEC Certificate in new process e-IEC ( Electronicc IEC) then you can download your certificate any time by login IEC portal but if you had taken your IEC in physical process, you have to apply for e-IEC with all the documents and DGFT will provide you certificate in new e-IEC Format.
Getting IEC code in India is tricky and many IEC get rejected by Department due to various reasons. Every rejected IEC lead to waste of time and money also as you have to do all the formalities again and You have to visit Department for Followups. Just call us and we will do all the things for you at very low fees of Rs. 3000 Only.