what is iec number

The IEC number is the most important registration required by an exporter/importer. No export or import for commercial purposes shall be made by any person without an IEC number. IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, and Government of India to Indian Companies. An IEC number can be obtained through an application to DGFT in India. There is no expiry date of IEC number. The registered/ head office of the applicant can apply for the IEC number to the licensing authority – the regional office of the DGFT- in the prescribed format. The application should be accompanied by relevant documents, which are as follows

Government has set up EPCs to provide information and to facilitate exports. The basic objective of EPCs is to promote and develop the exports of the country. Each council is responsible for the promotion of a particular group of products, projects and services. The EPCs keep abreast of the trends and various opportunities that exist in the international markets. They also offer professional advice to members in areas such as technology upgradation, quality and design improvement, standards and specifications etc. They also organize overseas delegations of its members in order to explore global market opportunities and promote interaction between exporting community and government.

EPCs are non profit, autonomous and professional bodies. They are non-profit organizations registered under the companies Act or the Societies Registration Act.

The Ministry of Commerce and Industry regularly interacts with the EPCs and review their performance.

An exporter may on application, register and become a member of an EPC. On being given membership, the applicant shall be granted forthwith Registration cum Membership Certificate (RCMC) of the EPC concerned, subject to certain terms and conditions.

Exporters should register with the Export Credit Guarantee Corporation (ECGC) to secure payment against political and commercial risks.

Goods are subject to exemption from excise duty on the final product meant for export. Where exemption is not availed, the excise duty paid is refunded after actual export. Secondly, the refund of excise duty is made on inputs used in the manufacture of goods meant for export. Form ARE-1 has to be used in India for this excise clearance.

It may be helpful to become a member of various chambers of commerce or a productivity council, or trade promotion organization recognized by Ministry of Commerce. This helps in getting a certificate of origin and many other social and networking events.

It is important to obtain a PAN, based on Business Identification Number (BIN) from the DGFT registration office prior to filing for customs clearance of export goods.

Any exporter has to procure a license, if his item is not listed under the freely exportable items by the government.