Import Export Code (IEC) Registration

What is IEC and who needs it?

Import Export Code (IEC) is a 10-digit unique code issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry. It is the mandatory business identification number for all importers and exporters in India. Without IEC, goods cannot be shipped out of or into India through Customs, and foreign exchange cannot be received in settlement of export proceeds through banks. Exceptions: personal use imports/exports not for commercial purposes, and government departments.

Is IEC required for service exporters?

Yes. From 2018, IEC is mandatory for service exporters too — including software exporters (IT/ITES companies), consultants receiving payment from foreign clients (remittance via SWIFT/FIRC), and professionals providing services remotely to foreign entities. Banks routing foreign remittances increasingly ask for IEC as part of KYC. Software exporters filing LUT (Letter of Undertaking) for GST zero-rating of export services also need IEC.

Is there any annual compliance for IEC holders?

The only ongoing requirement is an annual IEC update on the DGFT portal — a zero-fee online process of confirming that your IEC details are current (no changes in address, bank, or authorised signatory). This must be done in April–June each year. Failure to update for 2 consecutive years leads to IEC deactivation. Our team handles this annual update as part of our service. No returns, no reports, no fees otherwise.

Can an individual (not a company) get IEC?

Yes. An individual can apply for IEC in their personal name using their personal PAN. The bank account must be in the applicant's name. Individuals running proprietorship businesses typically apply for IEC in the proprietorship name linked to their personal PAN. Sole proprietors: their personal PAN is the business PAN.

What is the government fee for IEC registration?

The government fee for IEC registration is ₹500, paid online on the DGFT portal. OnlineTaxGuru's ₹1,999 fee covers: CA verification, DSC procurement/use, DGFT application filing, and follow-up until IEC is issued. Total cost including government fee: ₹2,499.

Can the same business have multiple IECs?

No. One PAN = one IEC. Only one IEC is issued per entity (per PAN). If you have multiple businesses under one PAN (proprietor with multiple trade names), all operate under the same IEC. A company can have only one IEC for its company PAN regardless of how many branch offices or products it exports.

What is the process for modifying IEC (change of bank, address, or name)?

IEC modification is done on the DGFT portal using DSC. Common modifications: (a) change in bank account (requires new cancelled cheque); (b) change in address; (c) addition/deletion of branch office; (d) change of authorized signatory. Modifications are processed within 1–3 working days. Keeping IEC bank account active is critical — all export payments from foreign buyers must route through this account.