The Import Export Code (IEC) is necessary for an exporter or importer to operate as an exporter or importer in India. To know more about IEC and international trade connect to import export course online. Once an exporter or importer has an IEC, he or she can export or import goods by the terms and conditions prescribed in the IEC that are attached to the Foreign Trade Policy of the Government of India. The IEC allows exports or imports from all India’s ports. However, the respective ports must be named as branches in the IEC. Fill up the column for ‘branches’ of your firm by mentioning the ports from which your transactions will be conducted. DGFT updates your IEC with a reference to ‘branch code’. When you begin an operation with a new port that already contains a ‘branch code’, the customs department requires registration of ‘AD code’. Your bank provides your account with an Authorized Dealer Code (AD code) which is a number provided to each bank across the country. You can import or export through the said port if a branch code is specified in the Import Export code with DGFT. If you did not specify the branch code at the time of applying IEC, you can update it as and when necessary. Did you enjoy our article about IEC? The information provided above is part of our Online Export Import Training course.
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