In the era of cut throat competition, each and every person wants to expand his business beyond the domestic market. But, doing business internationally is not a cup of tea, before going internationally, you have follow different laws and procedures, and obtain different license or registration. All businesses engaged in importing and exporting goods must have an importer exporter code. Without one, you cannot import or export.

IEC is a 10-digit code with permanent validity issued by the directorate general of foreign trade. IEC have lifetime validity. Importers are not allowed to proceed without this code and exporters can’t take benefit of exports from DGFT, customs, export promotion council if they don’t have this code.

The IE code must be quoted by importers while clearing customs. Also, banks require the importers IE code while sending money to abroad. For exporters, IE code must be quoted while sending shipments. And banks require the exporters IE code while receiving money from abroad.