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Process of Expand Your Business

In today’s era, every business wants to expand their market globally to sustain in prevailing market competition.  

To expand their business beyond the domestic market, such businesses need to obtain an importer-exporter License (IEC) which is to be issued by the Director-General of Foreign Trade (DGFT). 

It is a Ten digit key business identification number that is mandatory for all the businesses who are engaged in the Import Export Business.  

If a Person intends to export or import any good, services then he shall apply for Import Export Code. IEC is required to avail benefits under foreign trade policy.

After the introduction of GST, IEC being issued is the same as the PAN of the firm. IEC can be applied on behalf of proprietorship firm, partnership, LLP, Company, Trust, HUF, or individual. 

Eligibility for obtaining IEC. 

·       Who wants to import/export goods or services.

·       For Shipment clearance in case of export.

·       For Custom Clearance in case of Import/Export.

·       Receive foreign payments.  

Exemption for obtaining IEC 

·       Import for Personal Use.

·       Specified list mentioned in FT order 1993.

·       Import /Export by Central government. 

Procedure for obtaining IEC. 

1.    Visit www.dgft.gov.in

2.    On homepage- Click Service Tab.

3.    Then go for IEC profile management Tab 

4.    Then Apply for the IEC option.

5.    Register yourself/ Login ( If already registered) 

After successful login-

·         Fill required column (Details of Proprietor/Partner/MD/Director/Trustees)

·         Bank Information

·         Other Details as per specification.


After filling out the application, pay applicable fees for Rs 500 only.

After payment- verified through Aadhaar OTP or Digital signature certificate.

After completing of process, an IEC certificate was generated. 

Document Required: 

·       Pan Card of Proprietor/firm

·       Aadhaar Card / Voter ID.

·       Name of IEC and Nature of business.

·       Cancelled cheque of the current account.

·       GST Certificate.

·       Details of the director.

·       Mobile number and email id for OTP.

 As per the updated notification, it is required to update the IEC number every year within the prescribed time limit, otherwise, it will be deactivated by DGFT.

The best tax consultant can guide you properly to expand your business systematically. Now there are too many tax consultants are available in India. Many of them belong to Patna, Bihar. The tax consultant in Patna are well trained and experienced in all kinds of taxes services. The tax consultants in Patna can guide you to start your import and export business in India. So don’t worry to start your import and export business, Just find out a genuine and well-trained, and certified tax consultant in Patna and India first. They can guide you properly.

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