It is a unique 10-digit code given by DGFT (Director General of Foreign Trade) to anyone who wants to import or export.

Yes, for every importer or exporter IEC is mandatory. And to get any benefit from DGFT like a rebate or duty drawback IEC code is required.

No, it is a one-time registration without any further requirement of filling or follow-ups or re-application.

• A custom port – While importing or exporting the goods IEC is required at the customs port by the customs department.
• At Bank – While making payment or receiving payment against import or export then IEC is required by Bank.

No, it’s not compulsory to import or export after receiving IEC.

The following are not required to have IEC:

• Importing or exporting at individual capacity and not for business purposes.
• Ministries or Government Department
• Importing or exporting from specific countries through the specific port and with a ceiling on the value of import/export. E.g. from Nepal and Myanmar through Indo-Myanmar Border with a value less than 25,000.