Best Import Export Code

• April 06, 2024
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Unless specifically exempted, no person shall export or import without first obtaining an IEC. However, IEC is not required for service exports unless the service provider is receiving incentives under the Foreign Trade Policy. An import-export code is a unique 10-digit code that every import/export firm owner in India must have. The code is issued by the Ministry of Commerce's Director-General of International Trade and does not require filing or renewal. Importers use IEC to pass customs and ship goods, as well as transfer funds to overseas banks. Exporters rely on their IEC to export goods and get funds from overseas banks. To summarize, no importer/exporter can operate in India without an IEC.

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