IEC: Importer Exporter Code
IEC is a 10-digit key business Identification number issued by the Director General of Foreign Trade (DGFT) which is mandatory for Exports or Imports. No export or import shall be made by any person without obtaining an IEC unless specifically exempted.
IEC is a mandatory document to register on eBay as a seller.
Who should register for IEC:
- Everyone who wants to import or export goods for business purposes.
- Service provider serving clients abroad.
- Also, applicable if you are importing a service depending upon if you are covered under reverse charge mechanism or not.
- However, for services exports IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.
Benefits of IEC Registration
- IEC forms the primary document for recognition by Government of India as an Exporter/Importer.
- On the basis of IEC, companies can obtain various benefits on their exports/imports from the DGFT, Customs, Export Promotion Council etc.
Required Documents for IEC:
- PAN card of Individual or business entity
- Voter Id/ Aadhar card/ Passport of the Individual
- Photo of the applicant
- Bank certificate in the prescribed format ANF-2A(I) and a cancel cheque bearing pre-printed name of Individual or business entity
- Certification of incorporation and Address proof in case of company
- Copy of Rent Agreement or Electricity Bill Copy of the premise