Who requires an IEC?

IEC is required by anyone who wishn to have International transactions or trade. This covers Freelancers, individuals, companies, firmsm, bonafide persons etc.

IEC may not be necessary for all services exporters/importers ?

Submitted by bhavinjavia on Sat, 11/13/2010 - 00:57.

Under The Foreign Trade (Development and Regulation) Act, 1992

7. Importer-Exporter Code Number: No person shall make any import or export except under an Importer-Exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General.

But, this Act includes only "goods". "services and technology" have been included under an amendment -

THE FOREIGN TRADE (DEVELOPMENT AND REGULATION) AMENDMENT BILL, 2009

http://www.prsindia.org/index.php?name=Sections&action=bill_details&id=6...

According to this amendment -

6. In section 7 of the principal Act, the following proviso shall be inserted, namely:—

“Provided that in case of import and export of services, the Importer-exporter Code Number shall be necessary only when the service provider is taking benefits under the foreign trade policy or is dealing with specified services or specified technologies.”.

So, if the importer-exporter of services is not taking benefits under "foreign trade policy" (http://exim.indiamart.com/foreign-trade-policy/) or "dealing with specified services or specified technologies", IEC Number does not seem to be necessary.

Please confirm and clarify.

Thanks,

Bhavin

IEC code

Submitted by sanoosukumaran on Fri, 05/07/2010 - 16:28.

IEC is required by anyone who wishn to have International transactions or trade. This covers Freelancers, individuals, companies, firmsm, bonafide persons etc.