Pending professional review. This content was drafted with Claude from official sources and has not yet been reviewed by an ArthaKara professional. Verify against the official sources before relying on it.
An IEC is generally required for import and export, but services exporters need it only when availing benefits under the Foreign Trade Policy or as required by banks and regulators.
Detailed explanation
IEC is issued online by DGFT based on PAN and must be updated annually even if there are no changes.
Applicability
Importers and exporters
Exceptions
Specified exemptions under the Foreign Trade Policy (for example personal use imports).
Legal references
Section 7, Foreign Trade (Development and Regulation) Act, 1992; Foreign Trade Policy
Applicable period
Current
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