Overview of Import Export Code (IEC)
Import Export Code (IEC Code) is a mandatory 10-digit identification number issued by the Directorate General of Foreign Trade to individuals or businesses involved in importing or exporting goods and services from India. It is required for customs clearance, foreign currency remittances through banks, and availing export incentives or government benefits. Under the current system, new IECs are PAN-based, meaning the IEC number is the same as the entity’s PAN. However, separate registration on the DGFT portal is compulsory to activate the IEC and legally conduct international trade.
- PAN-based IEC system
- DGFT registration mandatory
- Valid for lifetime
- Mandatory for imports
- Mandatory for exports