IEC registration is required by a person for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All businesses which are engaged in Import and Export of goods require registering Import Export Code. IE code has lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, Export Promotion Council, if they don’t have this code.
The IE Code must be quoted by importers while clearing customs. Also, banks require the importers IE Code while sending money abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad.
Procedure for obtaining IEC
• Exporters / Importers shall file an application in ANF 2A format for grant of IEC. Only one IEC would be issued against a single PAN.
• The application in ANF 2A shall indicate the name and designation of the person whose photograph has been affixed on the Bank Certificate. Bank Certificate should be submitted in Appendix 18A.
• The importers and exporters should submit their profile in ANF 1.
• A photograph of the person along with his name and designation shall also be affixed on the IEC No. to be issued in Appendix 18B.
• The application should be submitted to jurisdictional RA. List of RAs, along with their jurisdiction is given in Appendix 1.
• An incomplete or unauthorized application is liable to be rejected giving specific reason for rejection. Such incomplete application may be re-opened on rectifying the deficiencies.
• The scale of fee, mode of payment, procedure for refund of fee and categories of persons exempted from payment of fee are contained in Appendix-21B.
Mode of Payment
• Payment through Demand Draft from any designated bank of Zonal Joint Director General of Foreign Trade, or
• Payment through EFT by any nominated bank by DGFT.
• Payment through TR6 challan with duplicate copy in any branch of Central Bank of India.
An IEC number allotted to an applicant shall be valid for all its branches/divisions/units/factories.
Duplicate Copy of IEC Number
If original copy of IEC is lost or misplaced then an application can be filed for grant of a duplicate copy of IEC number based on an affidavit cum indemnity bond on Rs. 150/- stamp paper duly notarized (to indemnify revenue which may be caused on account of issue of such duplicate) and a copy of FIR reporting loss.
Surrender of IEC No.
If an IEC holder does not wish to operate the allotted IEC number, he may surrender the same by informing the issuing authority.
Modification of IEC
(a) An application for modification shall be filed with the RA from where IEC was originally issued.
(b) ANF2A shall be used for modification of IEC details like name, address, constitution etc. Application for modification should be filed within 90 days of the modification, after which a penalty as per Para 9.1 of HBP v1 shall be charged as additional application fees.