Import and export, a leading business in our country, is growing by manifolds every fiscal year. Undergoing the nature of business involving foreign trade, every company associated with import and export of goods and services are mandated to get the Import and Export registration.
Import Export code (IEC) is a 10 Digit identification code that is allotted after the process of registration by the department of Directorate General of Foreign Trade (DGFT), this is a mandatory registration for all the companies involved in Import and Export.
As per the recent changes by DGFT the IEC number can be done with applicant PAN. The applicant PAN number will be the IEC number. That does not mean that if an applicant has PAN you should not apply for IEC number.