What is Importer Exporter Code?
All businesses engaged in importing and exporting goods must have an Importer Exporter Code (IEC). Without one, you cannot import or export. The IEC does not apply to technology and services. However, it does in certain cases in which international trade is restricted, such as nuclear weapons and automatic guns. The IEC is a 10-digit code with permanent validity issued by the Directorate General of Foreign Trade
You don’t need to file any transactions, returns or taxes under this code. It is merely a code with which you can begin importing and exporting.
The code has a national validity across the country and not restricted to a particular state. One code is valid for all factories and branches of the business. It needs to be quoted when goods go through customs and while sending and receiving money from abroad.