WHAT IS AN IEC? 

Benefits of IEC Registration: 

• Legally authorized for import & export: An IEC is a prerequisite for obtaining customs clearance for international trade. 
• Simplified trade transactions: IEC facilitates seamless processing of trade documents and reduces delays. 
• Enhanced credibility: An IEC signifies your legitimacy in the international trade landscape. 
• Availment of trade benefits: Certain government schemes and incentives are accessible only with a valid IEC. 

Process of IEC Registration:

• Eligibility Check: Ensure your business entity (proprietorship, partnership, LLP, etc.) is eligible for registration. 
• Document Collection: Prepare the required documents like PAN card, address proof, bank account details, etc. 
• Online Application: Submit the application form and upload scanned documents on the DGFT website. 
• Verification and Approval: The DGFT verifies your details and approves your IEC issuance. 

Drawbacks of not having an IEC: 

• Non-compliance with regulations: Operating without an IEC is a punishable offense. 
• Customs clearance delays: Goods stuck at customs due to the absence of a valid IEC. 
• Loss of business opportunities: Inability to participate in international trade activities.

Documents Required for IEC Registration: 

• PAN Card copy of the business entity. 
• Identity proof of the proprietor/partners/directors (Aadhaar/Passport/Voter ID). 
• Proof of business establishment (registration certificate/incorporation certificate). 
• Address proof of the business place (rent agreement/utility bills). 
• Bank account details (cancelled cheque). 

Eligibility for IEC Registration: 

• Any individual, proprietorship firm, partnership firm, company, LLP, HUF, or society engaged in import/export activities. 
• No minimum turnover requirement. 

Checklist for IEC Registration: 

• Ensure you have all the necessary documents. 
• Fill the online application form accurately. 
• Double-check the uploaded scanned documents. 
• Pay the applicable fees.