Obtaining an IEC

  • Act/Rule/Legislation

  • Online Link to Act/Rule/Legislation

  • Initial Setup or Ongoing Maintenance

    Initial Setup only

  • Filing and Maintenance Requirements

    Section 7 of the Foreign Trade Act provides for mandatory requirement of an Importer Exporter Code.

  • Penalty

    Penalty of minimum
    Rs. 10,000 (Rupees Ten Thousand only) and not more than 5 (five) times (whichever is more) of the value of goods and services imported or exported in contravention thereof.

  • Application Guidelines / Responsible Persons / Comments

    Section 8 of the Foreign Trade Act, read with Rules 9 and 10 of the Foreign Trade Rules, provides for the suspension and cancellation of IEC in the following circumstances:

    - When there is a contravention of the Foreign Trade Act or of the Foreign Trade Policy.

    - When import or export has been done in a manner prejudicial to trade relations of India with any foreign country.

    - When there is an import or export of goods and services in contravention of the Foreign Trade Act.