The import export code or the IEC code is a unique 10-digit code used by individuals or companies that are looking to establish an import-export business. It is issued by the Director General of Foreign Trade (DGFT). If you do not have an IEC code, then you cannot import or export goods.
The IEC code is required by the customs port in case a merchant is exporting goods and services. You will also require an IEC code as an exporter in case you receive money in foreign currency directly into your bank account. More recently, the Government of India in a bid to improve the ease of doing business made the individual’s or company’s PAN card the IEC code. However, traders who previously had an IEC code before this ruling, can still use the old one as it is valid for life.
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How Do I Link an Old IEC Code?
It has become mandatory for every IEC holder to confirm their IEC details between April and June every year. In case an individual fails to do so, then the IEC will be deactivated and will remain so until the IEC holder updates this information.
Registered users, who are already registered under DGFT, require the following details to modify or link their existing IEC
- PAN card
- Registered mail id for OTP
- Registered mobile number for OTP
- Valid address
- Valid digital signature (in case of a company)
- Valid Aadhaar card that matches with PAN card for e-sign authentication
- Aadhaar linked with phone number
What are the Steps Involved?
- Before you begin, ensure all pop-up features are allowed on your browser or else you will not be able to proceed
- Visit the DGFT website and create a new login id on the portal with valid credentials. You will be required to register in case you do not have an old user id or password
- On the homepage dashboard, you have the option to ‘link IEC’. Click on this button to proceed
- Enter your IEC number that you want to link to your profile and then click on the link IEC
- Once this is done, the number is validated and a new window in a pop-up for a digital signature request. Here, you are required to enter your PAN details and your date of birth
- You can sign with any one of the following options available
- In case of an individual - Aadhaar
- In case of a company - DSC signature
- Click on the option you want, and you will be redirected to a new window
- In this window, click on ‘continue’ and you will be then taken to an Aadhaar verification website
- Enter the Aadhaar number of the individual and then enter the OTP that is sent to the registered mobile phone and email id. Enter this OTP and you will receive a confirmation on your registered email id for the same.
Frequently Asked Questions
Is an IEC code required in all import-export circumstances?
There are a few terms and conditions where an IEC code is not required for export and import of goods and services. These include:
- An IEC code is not required for export or import for goods used for personal use are sent and\or received i.e. these goods aren’t connected with trade, manufacture or agriculture
- In case the government or government ministries and departments, and certain notified charitable organisations are involved in export or import of goods, then an IEC code is not required.
Do I have to file anything after I get an IEC code?
The IEC code is just a 10-digit code that you are required to show to successfully import and export goods and services. You do not require to file transactions under this code nor will you be required to pay additional tax for having this code.
To know more about Import export license
For how long is an IEC code valid?
An IEC code is valid for life, and doesn’t require to be renewed.
