IEC & Export-Import Guide for Indian Businesses
Everything you need to start and run an export-import business in India — IEC, LUT, RCMC, DGFT schemes, and trade compliance explained.
IEC & Export-Import Guide for Indian Businesses
Prepared by TaxClue's CA/CS team. Updated for FY 2026–27.
What is IEC?
Import Export Code (IEC) is a 10-digit code issued by DGFT, mandatory for any import or export from India. Lifetime validity, no renewal needed (only annual update).
Who Needs IEC?
Any individual, firm, LLP, company, or HUF that imports or exports goods and services (except small traders below RBI threshold for services).
IEC Process
Apply online on DGFT portal with PAN, bank account details, and address proof. Issued within 2–3 working days. No physical inspection required.
LUT for Exporters
Letter of Undertaking allows exporters to supply without paying IGST. Must be filed on GST portal annually before 1 April each year.
RCMC
Registration-cum-Membership Certificate from Export Promotion Councils (APEDA, FIEO, etc.) required to avail export incentives and schemes.
DGFT Schemes
Advance Authorisation, DFIA, EPCG, RoDTEP — reduce import duty on inputs used in export production. Significant cost savings.
Shipping & Documentation
Key documents: Shipping Bill, Bill of Lading, Commercial Invoice, Packing List, Certificate of Origin, LC (if applicable).
GST on Exports
Exports are zero-rated. Either pay IGST and claim refund, or export under LUT/Bond without paying IGST. Input Tax Credit (ITC) refundable.
Need Expert Help?
Our CA/CS team handles everything — registration, compliance, filings, and representation.