The Import Export Code, abbreviated as IEC, is a 10-digit alphanumeric code issued by the Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India. It is a mandatory prerequisite for businesses or individuals involved in international trade, providing a unique identity to facilitate foreign trade transactions.
IEC is mandatory for anyone seeking to engage in the import or export of goods and services from India.
2. Uniqueness:Each IEC is unique and serves as a distinct identifier for the entity in international trade transactions.
3. Lifetime Validity:Once issued, an IEC is valid for the entire lifetime of the entity and does not require any renewal.
4. Exemption for Personal Use:Individuals or businesses engaged in import/export activities for personal use, and not for commercial purposes, may be exempted from obtaining IEC under specific circumstances.
Ensuring compliance with the latest regulations is essential for businesses. JKStartUp360 can guide you through compliance requirements and assist in the renewal process if necessary.
In the ever-evolving global marketplace, understanding and obtaining an Import Export Code is fundamental for businesses engaged in international trade. As your dedicated Chartered Accountants, JKStartUp360 is committed to simplifying the complexities of IEC, ensuring your seamless participation in the international trade arena.
No, IEC has a lifetime validity and does not require renewal. However, any changes in details may need to be updated with the authorities.
Here's a general list of documents commonly needed when obtaining an IEC Code:
PAN Card of each shareholders and directors Identity Proof Two Colour Photographs of Promoters/Individuals/ Company/ Director Address Proof (Bank Statement / Electricity, Mobile, Telephone Bill) Proof of Registered Office Utility Bill 
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