IEC LUT Registration Go Back

EC stands for Importer Exporter Code. It is a 10-digit unique identification number issued by the Directorate General of Foreign Trade (DGFT), which is a part of the Ministry of Commerce and Industry in India. The IEC is a mandatory requirement for individuals or businesses seeking to engage in import or export activities in India.

Here are some key points about the Importer Exporter Code (IEC):

• Unique Identifier: Each IEC is a unique identifier for a specific business or individual engaged in international trade.
• No Trading without IEC: It is illegal to engage in import or export activities in India without obtaining an IEC.
• Lifetime Validity: Once issued, an IEC is valid for the lifetime of the entity or individual.
• No Annual Renewal: Unlike some licenses, the IEC does not require annual renewal.
• Not Required for Personal Use: IEC is generally not required for individuals or entities that do not engage in commercial trading and are only importing or exporting goods for personal use.
• Used for Customs Clearances: The IEC is used for clearing customs and for the purposes of claiming benefits under schemes like the Export Promotion Schemes.
• Application Process: The application process for obtaining an IEC involves submitting the necessary documents and information to the DGFT.
• Online Application: In recent years, the process for applying for an IEC has been streamlined, and it can typically be done online.
• Documents Required: The required documents typically include proof of identity, address, bank account details, and photographs (in the case of individuals or partners).
• Fee Structure: There is a fee associated with obtaining an IEC, and the amount may vary depending on the nature of the applicant (individual, partnership, company, etc.).

Requirements for IEC Registration:

• Legal Entity Type: Any legal entity in India (individual, partnership firm, company, etc.) that intends to engage in international trade must obtain an IEC.
• Permanent Account Number (PAN): The applicant must have a valid PAN card issued by the Income Tax Department.
• Bank Account: An active bank account in the name of the applicant or the business entity is necessary for IEC registration.
• Address Proof: The applicant must provide a valid address proof, which can be Aadhar card, passport, voter ID, etc.
• Photograph: Passport-sized photographs of the applicant (in case of individuals or partners) are required.
• Documents Specific to Business Entity: Depending on the type of entity (individual, partnership firm, company, etc.), additional documents like Memorandum and Articles of Association may be required.