IEC registration is required by an individual for exporting or importing goods. It is a 10 digit code which is issued by the Directorate General of Foreign Trade (DGFT). All organizations which are occupied with Import and Export of products require enlisting Import Export Code. IE code has lifetime legitimacy. Shippers are not permitted to continue without this code and exporters can't take advantage of fares from DGFT, traditions, Export Promotion Council, in the event that 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 abroad. For exporters, IE Code must be quoted while sending shipments. And banks require the exporters IE Code while receiving money from abroad. IMPORT AND EXPORT CODE Registration can be done through Sujata Associates (IEC CODE AGENT) in Kolkata, Delhi NCR, Mumbai, Bangalore, Chennai & all other Indian cities.
All importers who import goods are required to register Import export code and all exporters need this code to obtain the benefits of exports.
IEC code holder does not require filing of any returns.
IEC Code is issued for lifetime and requires no renewal
Even individuals who are proprietors can obtain the code in their name. It is not necessary to setup a business for the same.