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GST & Business

IEC (Import-Export Code) Eligibility

Decision aid

Quick answer: The FinTax24 IEC (Import-Export Code) Eligibility Checker uses your business type, annual export / import turnover, GSTIN + bank account readiness, and sector restrictions to determine whether you need an IEC under Section 7 of the Foreign Trade (Development & Regulation) Act 1992.

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IEC (Import-Export Code) Eligibility

Determine if your business needs an Import-Export Code (IEC) — checks turnover, business type and DGFT exemptions.

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Disclaimer: Results are for indicative purposes only and may vary based on actual rates, rules, and policies. Please consult a FinTax24 expert for binding advice.

How to use this calculator

Follow these 5 steps for an accurate result.

  1. 1

    Enter annual export / import turnover

    Total receipts from export + import operations across all currencies (converted at RBI reference rate).

  2. 2

    Pick business type

    Goods / services / both — determines the IEC scope and sector-specific exemptions.

  3. 3

    Flag threshold + restricted-sector

    Below ₹25L turnover → exempt. Restricted sector → additional Home Ministry approval needed.

  4. 4

    Verify GSTIN + bank readiness

    GSTIN active + current account with IFSC. Both prerequisites before IEC application.

  5. 5

    Read verdict + recommended action

    See "Exempt — IEC not required / IEC mandatory / IEC mandatory + Home Ministry approval" + recommended action.

Key takeaways

  • Businesses with export / import turnover < ₹25 lakh per FY are exempt from IEC under Section 7 of the FTDR Act.
  • GSTIN is mandatory before IEC — apply on gst.gov.in first, then IEC on dgft.gov.in.
  • Restricted sectors (defence / atomic / narcotics / explosives) need additional Home Ministry / DPIIT approval before IEC.
  • IEC issuance is free on dgft.gov.in — only ₹500 for modifications. Approval in 3-7 working days once readiness verified.

Frequently asked questions

Quick answers to common questions about iec (import-export code) eligibility.

Is IEC mandatory for service exporters (IT / consulting)?

Yes, if your foreign-currency receipts exceed ₹25 lakh per FY. Service exporters use Form A on dgft.gov.in. RBI + FEMA compliance is required for foreign-exchange receipts (FIRC / AD code attestation).

What is the fee for IEC issuance?

IEC issuance is free on dgft.gov.in. Modifications to existing IEC (change in address / directors / bank account) cost ₹500 per modification.

How long does IEC approval take?

3-7 working days once PAN + GSTIN + bank account are verified. Restricted sectors add 30-60 days for Home Ministry / DPIIT approval.

Do I need IEC for courier / personal imports?

Personal imports under ₹50,000 per consignment via courier are exempt. Commercial imports above this threshold require IEC + AD code + customs broker.

Sources & authority: For regulations on iec (import-export code) eligibility, refer to gst.gov.in, mca.gov.in, incometax.gov.in, rbi.org.in, Foreign Trade (Development & Regulation) Act 1992, IEC Rules 1989, Foreign Exchange Management Act 1999.

Last reviewed by: FinTax24 Compliance Desk · Reviewed on:

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