IEC is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) in India. It is mandatory for any entity involved in import/export of goods or services.

You can apply online through the official DGFT portal. Fill out the form, submit the required documents, and pay the nominal fee to obtain an IEC.

Yes, IEC is mandatory for businesses that engage in import/export of goods or services. However, it is not needed for personal use items that are not for commercial trade.

Yes, you can modify your IEC details online through the DGFT portal in case of changes in business details such as name, address, or ownership.

No, IEC does not require renewal. However, you must update it if any business details change or as per government regulations.

1. PAN Card of the business or individual
2. Address proof (electricity bill, rent agreement, etc.)
3. Passport-sized photograph
4. Bank account details and a cancelled cheque

It usually takes 2-3 working days from the date of submission of the application and documents, provided there are no discrepancies.

The cost of obtaining an IEC is around INR 500, though it may vary slightly based on government regulations.

No, IEC is tied to a specific business entity’s PAN number. You must apply for a separate IEC for each business entity.

You can cancel your IEC by applying for cancellation through the DGFT portal if your business is no longer operational.

Log in to the DGFT portal, select the ‘Modify IEC’ option, and submit the updated details. You will need to upload supporting documents for verification.

IEC is required for international trade, while GST registration is for domestic transactions. Both are necessary if your business involves both types of trade.

Yes, a sole proprietor can apply for an IEC. The process is the same, using the proprietor’s PAN for registration.

Yes, IEC is required for both the import/export of goods and services. Service providers need an IEC to engage in international business.

Yes, individuals importing/exporting for personal use and certain government departments or charitable organizations may be exempt from obtaining an IEC.

Yes, you can track your IEC application status on the DGFT portal using the acknowledgment number you receive after submitting your application.

IEC does not require annual renewal, but you must update it if your business details change. Failure to do so may lead to compliance issues.

No, an IEC is mandatory for all businesses or individuals engaged in exporting goods or services. Customs clearance cannot be done without an IEC.

If your IEC application is rejected, you will be notified through the DGFT portal. You can resubmit the application after correcting the discrepancies.

Yes, conducting import/export activities without an IEC can result in penalties, delays, and legal issues. Customs will not process transactions without a valid IEC.