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IEC CODE LICENSE

IEC stands for Importer Exporter Code, and it is a unique 10-digit number issued by the Directorate General of Foreign Trade (DGFT), which is a part of the Ministry of Commerce and Industry in India. The IEC code is a crucial requirement for businesses or individuals engaged in importing or exporting goods and services to or from India.

  1. Purpose: The main purpose of the Importer Exporter Code (IEC) is to facilitate and regulate the international trade of goods and services. It serves as an identification number for importers and exporters, enabling them to carry out import and export activities.

  2. Application Process: To obtain an IEC code, an individual or business entity must apply to the regional office of the DGFT or submit an online application through the DGFT website. The application typically requires the submission of necessary documents, such as identity proof, address proof, bank details, and other relevant information related to the business.

  3. Unique Identifier: The IEC code is a unique 10-digit alphanumeric code assigned to each importer and exporter in India. Once issued, the code remains valid for the lifetime of the entity unless it is suspended or canceled by the authorities.

  4. Mandatory Requirement: Having an IEC code is a mandatory requirement for any individual or business engaged in import or export activities in India. Without an IEC code, no person can import or export goods or services to and from the country.

  5. No Requirement for Personal Travel: Unlike other registration processes, obtaining an IEC code does not require the physical presence of the applicant. The entire application process can be completed online or through authorized representatives.

  6. Use in Customs Transactions: The IEC code is an essential document in customs transactions. It is mentioned on shipping bills, bills of entry, invoices, and other trade-related documents to facilitate smooth customs clearance for imports and exports.

  7. Validity and Renewal: Once issued, the IEC code is generally valid for a lifetime. However, it is essential to keep it updated with the latest information and notify the authorities in case of any changes, such as business name, address, or ownership.

  8. Modifications and Surrender: If there are any changes in the details provided during the IEC code application or if the code is no longer required, the holder must update or surrender the code accordingly.