Import Export Code also called as IE Code is a 10 digit code or IE Licence certificate provided by DGFT, Directorate General of Foreign Trade. This is a mandatory license for every commercial importer or exporter. Without this code no business can be performed in the import export category or to take the benefits provided by the government on this sector.
Banks also require the importers IE Code while sending money abroad. Customs will seek IE code before clearing the shipment from overseas.
Import Export Code or IE code is a life time valid certificate and no renewal is required. Once the company obtained IE code then the company can perform all their import export requirements without any issues.
Import Export Code or IE code will also act as a government proof for the business or entity name when you need to submit for any legal or regulatory requirement like opening a bank current account.
No Returns Filing
Unlike other government documents, IE code does not need to file any returns to the DGFT department. This is a maintenance free document. Once the IE code is obtained there is no need to file the returns even if you perform or not perform any import or export transaction.
Who can Apply ?
Both individuals and Entities can apply for Import Export Code or IE code. Individuals can obtain certificate in their name and perform the import export business or for personal requirements.