Import Export Code
Import Export (IE) Code is a registration required for persons importing or exporting goods and services from India. IE Code is issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industries, Government of India. IE Codes when issued can be used by the entity throughout its existence and doesn't require any renewal or filing. Therefore, it is recommended for most organizations to obtain IE Code, irrespective of if they need it at the moment.
Features of Import Export Code:
1.All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports.
2.IEC code holder does not require filing of any returns.
3.IEC Code is issued for lifetime and requires no renewal
4.Even individuals who are proprietors can obtain the code in their name.It is not necessary to setup a business for the same.