What we do
Our work in this practice group is structured around the records, deadlines, and decisions involved:
- Statutory Gateway to Global Commerce: Legal authorization to conduct cross-border trade, clear customs, and receive foreign exchange.
- Lifetime Validity with Zero Renewal Fees: Once issued, the IEC remains valid for the entity’s lifetime subject only to annual electronic confirmation.
- Fast Online Processing: Turnkey application filing and verification completed swiftly on the unified DGFT digital portal.
- Eligibility for Export Schemes & Subsidies: Prerequisite to claim duty drawbacks, RoDTEP benefits, EPCG scheme concessions, and MEIS/SEIS incentives.
- Port & Customs Integration Support: Seamless linkage with ICEGATE and Authorised Dealer (AD) Code registration at customs locations across India.
- GST Export Advisory Linkage: Guidance on Letter of Undertaking (LUT) filing for zero-rated GST export of goods and services without paying IGST.
How the engagement works
Mandatory under Section 7 of the Foreign Trade (Development and Regulation) Act, 1992 and Para 2.05 of the Foreign Trade Policy (FTP). Mandatory annual online verification/updation under DGFT Notification No. 58/2015-2020 between April and June of each year. Failure to update leads to deactivation of the IEC, preventing foreign trade transactions and bank remittances.
New Export-Import Business Setup: Manufacturing, trading, or e-commerce businesses expanding into international markets.
Software & IT Service Exporters: IT/ITeS companies, SaaS startups, and freelancers receiving cross-border remittances for software and consulting services.
Import of Capital Machinery & Raw Materials: Companies importing equipment, raw materials, or components from global suppliers.
Annual Mandatory IEC Updation: Existing IEC holders requiring annual verification and confirmation on the DGFT portal during the April-June statutory window.
Amendment of Existing IEC: Updating director/partner details, registered office address, bank account credentials, or business activities in DGFT records.
Port Customs Clearance & ICEGATE Integration: Linking the IEC with Indian Customs EDI System (ICEGATE) and registering bank AD Codes at seaport/airport customs.
Eligibility Assessment & Documentation Verification
We verify entity PAN, bank account credentials, authorized signatory identity, address proofs, and ensure all documents meet stringent DGFT validation criteria.
DGFT Portal Application Filing (e-IEC)
We prepare and submit the online application on the DGFT portal, entering business details, partner/director profiles, bank account verification, and required attachments.
Digital Signature & Aadhaar OTP Authentication
We facilitate secure online authentication via Class 3 Digital Signature Certificate (DSC) or Aadhaar-based OTP verification as prescribed by DGFT guidelines.
General questions
01Is IEC required for service exporters such as IT companies and consultants?
Yes. While an IEC was historically emphasized for physical goods, under current regulations, service exporters must have an IEC to avail benefits under the Foreign Trade Policy, receive export incentives, open foreign currency accounts, and ensure smooth inward foreign remittance processing by banks under RBI guidelines.
02Does an IEC expire or require annual renewal fees?
An IEC has lifetime validity and does not expire. However, the DGFT mandates that every IEC holder must electronically confirm or update their IEC details annually between April and June on the DGFT portal. There are no government renewal fees if completed on time.
03What happens if the mandatory annual IEC updation is missed?
If the annual updation is not completed within the prescribed window (April to June), the DGFT deactivates the IEC. Once deactivated, no import or export shipments can be cleared through customs, and banks may withhold foreign currency remittances. The IEC can be reactivated only upon filing the pending update.
04What is an Authorised Dealer (AD) Code and why is it needed alongside an IEC?
An Authorised Dealer (AD) Code is a 14-digit code issued by your commercial bank where you maintain your export-import business account. Once you obtain an IEC, the AD Code must be registered with customs at the specific port/airport (e.g., Nhava Sheva JNPT, Pune Air Cargo) through ICEGATE to enable customs clearance and direct credit of export duty drawbacks.
05Can an individual or proprietorship firm obtain an IEC?
Yes. An individual or sole proprietorship can obtain an IEC using the individual’s PAN. The business name can be added as the trade name in the DGFT registration.
06What documents are required to apply for an IEC?
Key documents include: (1) PAN card of the entity/applicant; (2) Certificate of Incorporation, Partnership Deed, or business registration; (3) Cancelled cheque or Bank Certificate showing account number, entity name, and IFSC code; (4) Electricity bill, rent agreement, or property document for registered office address proof; and (5) Identity and address proof of directors/partners/proprietor.
07How much time does it take to get an IEC certificate?
With our streamlined process and accurate documentation, the DGFT e-IEC certificate is typically generated within 24 to 48 hours of application submission.
