IEC stands for Import Export Code, which is a 10-digit code required by anyone who wants to start an import/export business in India. It is issued by the Director General of Foreign Trade (DGFT) and has lifetime validity. The IEC code is a significant business identification number that is mandatory for import to India or export from India. It is required for availing benefits from DGFT for the export scheme, etc., without IEC. The IEC code is effective for the lifetime of an entity and requires no renewal.

The following are some key points about IEC code:

• IEC is a unique 10-digit alpha-numeric code issued on the basis of PAN of an entity.
• It is required by anyone who wants to start an import/export business in India.
• It is issued by the DGFT and has lifetime validity.
• It is mandatory for import to India or export from India.
• It is required for availing benefits from DGFT for the export scheme, etc., without IEC.
• IEC code is effective for the lifetime of an entity and requires no renewal.
• The IEC code is a unique identification number for your import-export business that remains applicable throughout India.

To apply for IEC code registration, one needs to submit certain documents such as PAN card, Aadhaar card, passport size photograph, and bank certificate. The application can be submitted online on the DGFT website, and the fee for the same is INR 500. Once the application is approved, the IEC certificate is sent to the registered email of the applicant.