Import Export Code (IEC) in India
The Import Export Code (IEC) is a unique 10-digit code required for businesses engaged in importing or exporting goods and services in India. Issued by the Directorate General of Foreign Trade (DGFT), IEC is mandatory for all importers and exporters to conduct international trade.
Key Points:
- Application:IEC can be applied online through the DGFT portal.
- No Expiry: It does not have an expiration date and is valid for lifetime.
- Compliance: Required for clearing shipments, customs clearance, and receiving payments from abroad.
- IEC is crucial for businesses to engage in cross-border trade and ensures compliance with India's foreign trade regulations.