Importer-Exporter Code (IEC) under Foreign Trade Policy 2023

Applies to

Any person — individual, firm, company, LLP, society, trust — undertaking import or export of goods or services from India. IEC is a 10-digit code (now PAN-based) issued by the Directorate General of Foreign Trade. Service exports without the use of foreign exchange transactions can be exempt; exports from SEZs follow separate procedures.

Key points

• IEC mandatory before first import / export.
• Annual update Apr–Jun on DGFT portal — non-update auto-deactivates the IEC.
• RoDTEP, RoSCTL replaced MEIS/SEIS post-WTO ruling.
• EPCG scheme: zero-duty capital goods import against export obligation.
• SCOMET licensing for dual-use items.

Applicability triggers

• Import or export of goods from / to India
• Service exports invoiced in foreign exchange (in many cases)

Practitioner questions

• Does my IEC still cover the new SCOMET schedule items we plan to export?
• Which RoDTEP HSN code applies to our product, and what is the FY rate?
• Have we completed the annual IEC update — without which DGFT auto-deactivates?

Sources

• DGFT
• Foreign Trade Policy 2023