IEC Code is a number issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies and Individuals to enable them carry International Trade.
IEC is compulsory for all those companies/person who wish to carry on Import or Export business in India. It is issued against a PAN number, so no person can avail more than one IEC.
There is no annual compliance requirements for a IEC. It is valid for lifetime.
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