Importer Exporter Code (IEC) is a unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India, registering an individual, firm, organization, entity etc. as an importer or exporter. To import or export in India, IEC Code is mandatory. 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
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.
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