What should one know about IEC?

The Directorate General of Foreign Trade (DGFT) grants the Import Export Code, or IEC, which is a ten-digit code, in exchange for a required application and payments. For organizations looking to begin an export-import business in India, IEC registration is a regulatory requirement. Additionally, it is required for businesses that continuously import raw materials to create items as well as manufacturers who also double as exporters.

What documents are required to obtain it?

Applicants who want to register as IECs must go to the DGFT portal and complete the necessary electronic form. It is necessary for applicants to upload the following documents when applying electronically:

A duplicate of a business certificate, such as a partnership deed or certificate of incorporation

passport, voter ID, PAN, and managing partner’s DL

Tenant evidence of the business location

Bank statement or voided check (if the business is a partnership)

Conclusion: It is now illegal and forbidden to engage in export-import operations in India without first obtaining an IEC registration. The IEC certificate provides exporters and importers in India with instant clearance. For customs clearance, the IEC code is appended to a variety of shipping papers. Therefore, getting an IEC registration is a must and shouldn’t be disregarded.