Import Export Code (IEC) is a 10 digit code number, which is issued by the Director General of Foreign Trade (DGFT).It is required by any person who is into import/export business in the country. Importers merchant cannot import goods without the Import Export Code and similarly the exporter merchant cannot avail the benefits from DGFT for the export scheme, and others without IEC.
Any type of Business i.e. Sole Proprietorship, partnership, Private limited companies, Charitable Organisation which are dealing with import and exports of goods can register for import- export code, irrespective of the size. Here to note that IE Code is not required for goods for personal use, which is not connected with trade, manufacture or agriculture.
Following are the steps for IEC Registration (Online):
Import Export Code is permanent and is valid for lifetime, so there is no need for renewal or update, it lasts until the business ceases to exist or the registration is surrendered.
RCMC is Registration-cum-Membership Certificate issued by the Export Promotion Council body under the Government of India. It is required for businesses that deal with the export of restricted products and those seeking concessions under Foreign Trade Policy like Duty Withdraw.
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Author- CS Aakansha Negi and can be contacted at [email protected]