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Government Registration

Import Export Code

The Import Export Code is issued by the DGFT against the business PAN and is required before customs will clear an import or an export, and before a bank will process a foreign currency remittance for trade. It is a one-time registration, but it now has to be confirmed every year or it is deactivated.

What you get

  • Application filed with DGFT against PAN, with the business bank account and address linked
  • Digital signature or Aadhaar authentication of the authorised signatory
  • Code issued electronically, quoted on shipping bills and bills of entry
  • Required by banks before an inward or outward trade remittance is processed
  • Annual confirmation filed on the DGFT portal even when nothing has changed
  • Modification filed when the address, bank account or constitution of the business changes

FAQ

About import export code

Does the IEC need to be renewed?

It does not expire, but it must be confirmed on the DGFT portal every year even if no detail has changed. An IEC that is not confirmed is deactivated, and an exporter usually finds out at the point a shipment is held or a remittance is refused. Reactivation is possible but it costs time a shipment does not have.

Is an IEC needed to export services?

Not always. Service exporters can often receive payment without one, but an IEC is required to claim benefits under the foreign trade policy, and many banks ask for it regardless. It is inexpensive to hold, so most service exporters take it rather than argue the point with a bank.