Import-export Code – only two documents required for IEC now

The government has laid out a new procedure for getting online IEC (import-export code), an important number for carrying our export and import.”New Procedure for online IEC application/modification has been introduced,” the directorate general of foreign trade (DGFT) said in a notification.

As per the laid out procedure, only two documents are required —
Bank Certificate and address proof.

For address proof, documents which can be submitted include sale deed, rent agreement, power bill, telephone landline bill, mobile postpaid bill and partnership deed.

In case the address proof is not in the name of the applicant firm, a No Objection Certificate(NOC) by the firm premises owner in favour of the firm along with the address proof is to be submitted as a single PDF document, it said.

Earlier, digital signature certificate and copy of PAN card was also required to get IEC.

The move is aimed at promoting ease of doing business for exporters and importers by reducing paperwork.

WHAT IS IEC?

It is an important 10 10 digit number, which is issued by Director General of Foreign Trade,  Department of Commerce, Government of India.
Any individual or company which is starting a business of international trade needs this number. If any foreign transfer on account of business, IEC number is mandatory. Trading without this code attracts penal charges.