IEC Code Online Registration

Seedling Associates Advocate03 May, 2024Legal

In today?s age of cut-throat competition and globalization, every business aspires to grow and expand beyond the limits of its domestic market. While diving into the overseas market may look promising, there are certain regulations and compliances that one needs to be aware of, starting with acquiring an Import Export Code (IEC) license. The Importer-Exporter Code, popularly known as an IEC number, is a business identification number issued by the Director General of Foreign Trade (?DGFT?), Ministry of Commerce and Industry, nowadays, the PAN number of the applicant is treated as the IEC, however, application for registration is mandatory, to get oneself enrolled on the DGFT portal. Unless specifically exempted, no person can make any export or import of goods & services without obtaining an IEC. An IEC registration certificate is thus mandatory for individuals and businesses looking to get involved in the import/export business.