❖ IEC Import Code
Definition: A 10 digit code, which is issued to the companies by the Director General of Foreign Trade, Government of India, Ministry of Commerce. It is mandatory for any entity or person to carry on with the export and import business.
Full Form: – It stands for "Importer Exporter Code".
IEC Code Number Notification: – The Importer Exporter Code Number is issued by the policy circular no.15 which in turn is issued by the DGFT.
Eligibility: – The entire list of eligibility criteria, legal provisions and conditions to avail the IEC code is found in Foreign Trade Rules, Notification No. GSR 791 (E), dated 30-12-1993 issued by the Ministry of Commerce in 1993.
How to Apply: – The grant of the IEC number has to be sought by an application by the applicant's head/registered office. The application should be addressed to the DGFT, Head/ Regd. office if the concerned entity code is a person and to the registered office if the concerned entity is a company.
Online Application: The application form called the "ANF2A" is available in PDF and Word format. The submission of the Appendix-18B is obligatory with the online application form. The applicant should keep it in mind that the applicant's banker has signed it in his letter head. Additionally, two passport size photographs are attached to the application. Appendix-18D is the sure shot way to look for the regional authorities of DGFT and the corresponding RBI office.
Validity of the code: Appendix 18B declares the validity of the IEC number allocated to an applicant.
Duplicate Copy: In case of misplacement or loss, request for the duplicate copy of the IEC number has to be made to the issuing authority accompanied with an affidavit.
Surrender: The owner can surrender his IEC number to the issuing authority which will be instantly cancelled by it. The issuing authority will transmit it automatically to DGFT so that it can be further transmitted to regional and customs authorities.
Filing of Application: Applications can be filed on the DGFT website. Every application should be complete in every and each respect failing which it will be rejected. The application can be submitted in MS word format.
Importer/ Exporter Profile: The Part 1 of the application requires the profile of the exporter/ importer and the same is registered to the regional authority. In the case of any change in the above mentioned information, the same should be immediately intimated to the regional authority.