Definition of IEC code
IEC code also known as Import Export code is provided by DGFT (Director General of Foreign trade). IEC code is a ten digit Alphanumeric code same as your PAN number and provided once. At a time, on a single PAN Card only one IEC Code can be issued.
Validity and Renewal of IEC
IEC once issued, will valid for one year only as per the new guidelines of DGFT not updated every year will lead to cancellation of IEC. IEC issued on PAN Number so if a company having more then one office then also only One IEC Code will applicable to all branches. No separate IEC require for each Branch. There is no need to file any return and no need to file any renewal for IEC.
About IEC Certificate
From 1st April 2016, DGFT has stopped issuing any physical IEC certificate. Now IEC certificate came online only and status can be checked online. The new IEC is also known as e-IEC ( Electronic Import Export Code). There is no sign and stamp requirement on IEC certificate now.
Why it is Require?
If you are doing any import or Export, you must have IEC Import-Export Code. By IEC Code only, you can do the Import in India and can export outside India. IEC Code is a one time Process and You need not to file return for the same.
Modification In IEC
If a company wants to modify any details in IEC, then it can be done online only. IEC modification can be done only after submitting all the documents again with require changes, Modification process is difficult then original process of IEC.
Duplicate IEC Certificate
If you have taken IEC Certificate in new process e-IEC ( Electronic IEC) then you can download your certificate any time by login IEC portal but if you had taken your IEC in physical process, you have to apply for e-IEC with all the documents and DGFT will provide you certificate in new e-IEC Format.