Import Export Code (IEC) Registration 2026: Fees, Updates, LUT and the New EDF

Licences | RegisCorp Team

Checked on 23 October 2026. The Import Export Code, or IEC, is a ten-character number that Indian customs, banks and the Directorate General of Foreign Trade (DGFT) use to identify anyone who brings goods into India or sends them out. It costs Rs 500 once, is issued online, and never expires. That is the easy part. The harder parts are working out whether you need one at all (especially if you export services), what you must do before your first shipment, how GST on exports works, and what changed for exporters in 2026: a new rupee-payment rule from DGFT in August, and a new RBI export declaration regime that replaced the SOFTEX form on 1 October 2026. This post covers all of it, with worked numbers and a list of what we could not confirm.

RegisCorp Consultancy LLP is a digital-first legal and compliance firm in Kota, Rajasthan, working with businesses across India. We write these guides so you can check the rules before you pay anyone, including us.

Key takeaways

• If you export or import goods for trade, you need an IEC. It is issued against your PAN, so the code is the same as your PAN. One PAN gets one IEC, and it is valid for life.
• The government fee is Rs 500, once. The annual confirmation between 1 April and 30 June is free. One source reports a Rs 200 fee for updating after the window, and another says modification costs Rs 200 a change. Consultancy fees come on top and vary widely.
• For services, the answer is "sometimes". Sources agree an IEC is not strictly required for every service or software exporter. It becomes necessary if you want certain incentives, if your client or bank asks for it, or if you ship physical goods alongside the service. Check with your bank before you decide.
• Services exporters have a new reporting duty. From 1 October 2026, reported rules replace the SOFTEX form with a unified Export Declaration Form (EDF). Services exporters, including freelancers, are reported to file one EDF a month through their bank. The details come from secondary sources and are not yet confirmed from the RBI text.
• GST on exports works through a Letter of Undertaking (LUT). File it once per financial year, before your first export invoice. Without it you pay IGST upfront and wait for a refund.
• Missing the April to June update can deactivate your IEC. Customs can then hold consignments and banks can delay export payments.
• Rupee exports got clearer in August 2026. DGFT Notification 30/2026-27 of 20 August 2026 is reported to allow contracts and invoices in rupees for most destinations, with incentive treatment equal to foreign-currency exports when specific banking conditions are met.
• Realisation periods are in dispute between sources. One source says nine months for services and twelve for rupee invoices. Another points to longer periods. We could not read the RBI text.

The key numbers and dates in one place

What an IEC is

The IEC is a registration under the Foreign Trade Policy. DGFT issues it, and it is tied to your PAN. A business gets the same ten characters whether it is a proprietorship, a partnership, an LLP or a company, as long as the PAN belongs to that entity. A sole proprietor therefore uses the proprietor's personal PAN. A company uses the company's PAN.

Three practical points follow from that design.

• One entity, one IEC. If you run a proprietorship and later incorporate a company, the company needs its own IEC. The proprietor's code does not transfer.
• Branches use the same code. The IEC covers the entity's activities across its branches, provided the profile lists them accurately.
• A wrong or stale profile causes trouble at the port. Customs and banks read your IEC profile. If the address, bank account or signatory does not match what you give them, shipments or payments can stall.

What it is not

An IEC does not make you eligible for export incentives by itself. It does not replace GST registration, an Authorised Dealer (AD) code, or a membership certificate from an export promotion council. It does not authorise export of controlled items. Anything on the restricted or SCOMET list needs a separate authorisation. A page we read warned that an exemption from the IEC should not be assumed to remove product-specific requirements.

Who needs one, and who does not

You need an IEC if

• You import goods for trade, even once.
• You export goods for trade, including small consignments of handicrafts, apparel, spices, software hardware or jewellery.
• You are a merchant exporter who buys from manufacturers and sells abroad.
• You ship goods abroad through an e-commerce channel as a business.

You usually do not need one if

• The goods are personal and not connected to any trade, manufacture or agriculture.
• You are a central or state government department, a diplomatic mission, a UN agency or a notified international body.

The services exporter's dilemma

This is the part where articles disagree.

• One consultancy says a freelancer receiving foreign payments needs an IEC if payments exceed Rs 5 lakh or the bank asks for it.
• Another says an IEC is "not strictly required" for every software or service exporter, and is "generally optional" for freelancers unless they claim benefits.
• The same article lists the cases where it is needed: claiming the Service Exports from India Scheme (SEIS) benefits, client vendor onboarding, joining export councils, some banks requiring it for inward remittances, shipping physical goods along with the service, and some international payment processors.

We could not find a primary source that settles whether the law requires an IEC for pure service exports. The safe approach is practical. Ask your bank, your payment processor and your largest client what they need. If any of them requires an IEC, get one. It costs Rs 500 and takes a day or two.

A further caution: the SEIS scheme, which is the benefit most often cited for service exporters, has a history of delays and changes. We could not confirm its current status for 2026, so do not plan your pricing around it.

What changed in 2026 for exporters

1. Rupee exports (DGFT, 20 August 2026)

One article reports DGFT Notification No. 30/2026-27 of 20 August 2026, effective immediately, which replaces paragraphs 2.52 and 2.53 of the Foreign Trade Policy 2023. The idea is to align the policy with the Foreign Exchange Management regulations on receiving and making payments, and to widen rupee settlement of trade.

As described, the position by destination is:

For destinations other than Nepal and Bhutan, rupee proceeds can receive policy benefits "at par" with foreign-currency exports when payment comes through banking channels and is credited to a rupee account of a non-resident opened under the FEMA deposit regulations. As the article puts it, currency alone does not establish entitlement. Scheme conditions, RBI rules and product restrictions all still apply.

If you invoice in rupees, ask your bank which non-resident rupee account will receive the money and confirm the electronic Bank Realisation Certificate (e-BRC) process before you ship.

2. A unified Export Declaration Form (RBI, 1 October 2026)

Sources describe a new set of RBI regulations, the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, reportedly issued in January 2026 and effective 1 October 2026. Under them:

• The SOFTEX form is discontinued. Software exports are now reported on the Export Declaration Form (EDF).
• Services exporters are reported to file an EDF with their bank, generally within 30 days after the end of the month in which the invoice is raised. One EDF can cover all invoices and clients for the month. For some non-software services, the EDF may instead be filed on or before the date payment is received.
• The reported rules apply "regardless of export value". A small invoice is not exempt.
• Software exporters file with the bank or the Software Technology Parks of India (STPI). Units in Special Economic Zones file with the Development Commissioner.
• The Authorised Dealer enters the EDF in the RBI's export data processing system within five working days, and closes it when payment is realised.
• Non-compliance is a FEMA matter. A penalty of up to three times the amount involved, or Rs 2 lakh where the amount cannot be quantified, is mentioned, with daily penalties for continuing breaches and possible placement on a "caution list" that can force advance payment or a letter of credit for later exports.
• An amendment dated 22 September 2026 (FEMA 23(R)(1)/2026-RB) is reported to have changed the realisation periods: nine months for services and twelve months for exports invoiced or settled in rupees.

One source we read said the realisation timeline was extended to 15 or 18 months. Another said "around nine months, now typically extended". We could not resolve these, so do not assume a period. Ask your bank in writing.

If you are a freelancer or agency, the practical step is to ask your bank this week how it wants the monthly EDF, and to record client, country, invoice number and date, currency, amount, service description and the SAC code for each invoice.

Documents for an IEC

The exact fields are on the current ANF 2A form on the DGFT portal. The lists we found agree broadly.

Sole proprietor

• PAN and Aadhaar of the proprietor.
• Proof of the business address: a recent utility bill, rent agreement or sale deed.
• A bank certificate in the format DGFT prescribes, or a cancelled cheque. One source says the portal now relies on a prescribed bank validation process. Check the form.
• A passport-size photograph.

Partnership, LLP or company

• PAN of the entity.
• The partnership deed, LLP agreement or incorporation certificate, with the CIN or LLPIN.
• Aadhaar and details of the authorised signatory, with a board resolution or authority letter.
• Proof of the registered office.
• Bank details. A GST certificate is recommended but not mandatory, according to one article.
• Details of partners, directors or the Karta, as the constitution requires.

Electronic signing

The application is signed with an Aadhaar-based OTP or a digital signature certificate. The application requires the person signing to be the authorised signatory named on the form. Use the same name and date of birth as the PAN database, because mismatches are the commonest cause of rejection.

The application, step by step

1. Register on the DGFT portal (dgft.gov.in) with your PAN and email. Verify with the OTP.
2. Open the IEC application (Form ANF 2A) and fill in the entity details, address, bank account and signatory.
3. Upload the documents. One source says each file is typically limited to 5 MB.
4. Pay Rs 500 by net banking, card or UPI.
5. E-sign the application.
6. Download the certificate from the portal once it is issued.

How long it takes

One article reports one to three working days, often within 24 hours when documents are complete and the Aadhaar OTP works. A modification is reported to take one to two working days. These are consultancy figures, not DGFT commitments.

Why applications are delayed

• A PAN with a name that differs from the Aadhaar.
• A mobile number not linked to the Aadhaar.
• An address proof in someone else's name.
• A bank account in a different entity name.

What it costs

The government fee is small. Most of the money people spend goes to consultants, shipping and compliance around the IEC.

The council figures come from a single article that itself gives inconsistent ranges, so treat them as indicative.

The annual update: the date people forget

Every year, between 1 April and 30 June, an IEC holder must confirm the IEC details on the DGFT portal, even if nothing changed. There is no fee in the window. The fields to review are the address, bank details, authorised signatory and business activity.

What happens if you miss it

The IEC can be deactivated. Two articles describe what follows:

• Customs may hold consignments.
• Banks may hold export payments.
• You may have to update and wait for reactivation, or in the worst case reapply with fresh documents.
• DGFT may also flag an IEC for scrutiny, and unresolved flags can lead to deactivation.

One page says that a deactivated IEC "may be activated after successful updation, without prejudice to any action for other violations".

The practical habit

Put 1 April in your calendar. Update the IEC before 30 April. It is a ten-minute job, and the cost of doing it late is a held shipment.

What to do before your first shipment

An IEC is the first step, not the last. These are the other pieces, in the order we would do them.

1. Check the product. Find the correct HS code (the tariff classification). Check whether the item is restricted, prohibited or on the SCOMET list. A free export policy does not apply to everything.
2. GST registration. Exporters of goods normally need GST registration to export under the LUT route and to claim refunds. See our GST registration guide.
3. Letter of Undertaking (LUT). File it on the GST portal before your first export invoice of the financial year. It lets you export without paying IGST.
4. Bank account and AD code. Tell your bank you are an exporter. The bank is called the Authorised Dealer. Register its AD code with customs. The AD code is needed before the first shipping bill.
5. ICEGATE. Register on the customs e-filing portal, ICEGATE, with a digital signature, so shipping bills and refunds can be processed. We did not verify the exact steps.
6. Digital signature certificate. Class 2 or Class 3, depending on the portal. Aadhaar e-sign is accepted for the IEC application itself.
7. Export promotion council membership (RCMC). Needed to claim certain benefits. The right council depends on the product.
8. Packing, labelling and documents. Commercial invoice, packing list, bill of lading or airway bill, certificate of origin where applicable. The destination country's labelling rules apply.
9. Insurance and payment terms. Decide the currency, the payment term, and how you will protect against non-payment.
10. Food, medicines, cosmetics and other regulated goods need their own registrations. For food, see our guide to FSSAI registration and licences.

GST on exports: LUT or pay and claim

Exports are zero-rated under GST. You can either export without paying IGST under an LUT, or pay IGST and claim a refund.

The LUT in brief

• It is filed on the GST portal each financial year. For FY 2026-27 it covers 1 April 2026 to 31 March 2027.
• It needs to be in place before the first export under it. One article says exports made before filing cannot be covered retroactively.
• It is available to registered exporters with no turnover threshold, except those prosecuted for tax evasion above a high limit and composition taxpayers.
• Acceptance is reported to be on the date of filing, with no bond or bank guarantee in most cases.
• Export invoices should refer to the LUT reference number and carry the statement that the supply is for export under LUT without payment of IGST.
• If export proceeds are not realised within the period, IGST becomes payable with interest, reported at 18 percent a year.

A worked example: LUT versus paying IGST

Assumptions:

• You export goods worth Rs 10,00,000 (invoice value).
• IGST on the goods is 18 percent.
• You have no LUT in force for the first invoice.
• Your cost of money is 12 percent a year.
• The refund takes three months from the date you pay.

The LUT saves roughly Rs 5,400 on that one shipment in financing cost, plus all the paperwork of a refund. If you ship ten times a year, the saving is ten times as large. The real cost is not the arithmetic. It is that a small exporter running out of cash cannot always lend the government Rs 1.8 lakh for a quarter.

The trap on the LUT route

Suppose you export under LUT and your buyer does not pay for more than a year. IGST of Rs 1,80,000 becomes payable, and interest of 18 percent a year on that amount is about Rs 32,400 for a further year. A late-paying foreign buyer therefore costs you tax interest on top of the unpaid invoice. This is why export credit insurance and advance payments matter for first-time exporters.

Realisation of export proceeds

The foreign exchange rules say export proceeds must be received in India within a prescribed period. The EDF and the bank's records track this. Under the reported 2026 regulations the period is nine months for services and twelve months for rupee-invoiced exports, but at least one source describes a longer period, and we could not read the notification. Ask your bank, in writing, what period applies to your export, and what to do if the buyer delays.

If proceeds are not received in time, you may need to ask the bank for an extension before the deadline, not after. This is one of the matters in which a lapse can reach the FEMA penalty provisions.

Penalties for getting it wrong

These come from consultancy articles that cite the statutes. We have not read the sections.

Which entity should hold the IEC

If you are testing an idea, a proprietorship can get an IEC in the proprietor's own PAN, with no incorporation. As volumes grow, many exporters move to an LLP or a private limited company because buyers, banks and insurers prefer an entity with its own record. When you move, you apply for a new IEC in the new PAN. Do it before you transfer the contracts, so that shipments are not delayed.

For a comparison of the structures, read our guide to Private Limited Company vs LLP vs OPC vs Partnership.

Importing: what an IEC does and does not cover

For imports, the IEC is the number customs asks for on the bill of entry. It does not tell you the duty. Customs duty depends on the product's HS code, the country of origin and any free trade agreement benefit. Tariff rate quotas under trade agreements are notified by DGFT, and one such notice for apples, kiwifruit, albumins and manuka honey under the India-New Zealand agreement is reported to take effect on 20 October 2026. We have not read it, but it illustrates the point: an importer should check for current notifications before ordering.

Items that need separate permission include food (a central FSSAI licence for importers), medical devices, drugs, cosmetics, wireless equipment, and goods on restricted lists. Do not rely on the IEC for any of them.

A worked example: a first export order

Let us follow a small business. Priya runs a proprietorship in Jaipur making block-printed home textiles. A buyer in Germany orders goods worth Rs 4,50,000. Payment is by bank transfer after shipping.

Step 1: the registrations (week 1 to 2)

• She applies for an IEC on the DGFT portal in her PAN. Government fee Rs 500. The certificate arrives in two days.
• She already has GST registration. She files an LUT on the GST portal for FY 2026-27.
• She asks her bank for an AD code and registers it with customs.
• She joins the textile export promotion council for her RCMC. The fee depends on the council. We do not quote it.

Step 2: the first invoice (week 3)

• She issues a commercial invoice showing the buyer, the HS code, the goods, Rs 4,50,000, the LUT number and the statement about export under LUT.
• IGST at 18 percent would have been Rs 81,000. Under the LUT she pays nothing, so she does not have to find Rs 81,000 in cash.

Step 3: shipping (week 4 to 5)

• A customs house agent files the shipping bill. A typical agent fee for one shipment is in the Rs 3,000 to Rs 15,000 range in one article.
• She keeps the bill of lading, the shipping bill and the invoice together.

Step 4: getting paid (week 8 to 12)

• The German buyer pays. The bank issues the e-BRC.
• She records the payment against the invoice and keeps it for GST and incentive purposes.
• If she were a services exporter instead, she would also file the monthly EDF with her bank under the new regime.

The numbers

Government fee: Rs 500. LUT: nil. Consultant, if she used one: Rs 1,000 to Rs 3,000. Agent: a few thousand rupees. Cash saved by using the LUT: Rs 81,000 for the quarter. The big costs are the product, freight and the time to chase payment, not the registration.

Mistakes that cost money

• Skipping the April to June update. It is the most common reason an IEC is deactivated.
• Filing the LUT after the first invoice. The LUT does not cover earlier exports.
• Using a friend's IEC. Both parties can be penalised.
• Invoicing without the LUT statement. The invoice should refer to the LUT.
• Assuming a service business needs no export reporting. The EDF regime changes that from 1 October 2026, if the reports we read are right.
• Letting proceeds run past the realisation period. Ask the bank for an extension in time.
• Ignoring product restrictions. Free export policy does not cover everything.
• Mismatched details. The name, address and bank account on the IEC, the GST registration and the invoice should agree.
• Paying a consultant before checking what you need. For a pure service business, the IEC might be optional.

Frequently asked questions

What is an Import Export Code?

A ten-character code, issued by DGFT against your PAN, that identifies you to customs and banks when you import or export goods for trade.

How much does an IEC cost in 2026?

The reported government fee is Rs 500, paid once. There is no renewal fee. Consultants charge extra.

How long does it take to get an IEC?

One to three working days is typical when documents are complete, according to one article. It can be faster. DGFT does not guarantee a time.

Does the IEC expire?

No. It is valid for life. You must, however, confirm or update the details every year between 1 April and 30 June, or the IEC can be deactivated.

Do I need an IEC to export services?

Not always. Sources say it is generally optional for freelancers and service exporters unless they claim incentives, shipped goods come with the service, or a bank, client or payment processor asks for it. Check with your bank.

Do I need an IEC to sell on Amazon Global or Etsy?

If you ship goods abroad as a business, yes, you will usually need an IEC. If you only receive payment for digital services, see the previous answer. Marketplaces and couriers often ask for the code. See also our guide to selling on Amazon India, Flipkart and Meesho for the domestic side.

Is GST registration needed to get an IEC?

Not strictly. One article says a GST certificate is recommended but not mandatory for the IEC application. GST becomes important for export refunds, input tax credit and the LUT.

What is an LUT and when do I file it?

A Letter of Undertaking lets a registered exporter export without paying IGST. File it on the GST portal for each financial year before the first export under it.

What if I forgot to file the LUT?

Exports made before filing are not covered. You may have to pay IGST on those shipments and claim a refund. A penalty provision is mentioned in one article, so file as soon as you notice.

What is the EDF and who files it?

The Export Declaration Form is the RBI reporting form reported to replace SOFTEX from 1 October 2026. Services exporters are reported to file one a month with their bank. Confirm the details with your bank.

Can I invoice my export in rupees?

DGFT Notification 30/2026-27, as reported, allows rupee invoices for most destinations, with incentive treatment equal to foreign-currency exports if payment is through banking channels into a non-resident rupee account opened under the foreign exchange rules. Ask your bank first.

What happens if my IEC is deactivated?

Customs may hold shipments and banks may hold payments until you update the profile and the IEC is reactivated. Do the annual update on time.

Can two businesses share one IEC?

No. The IEC belongs to one PAN. Using someone else's IEC can lead to penalties for both parties.

Can I get an IEC for a company still being formed?

You need the entity's PAN, which exists only after incorporation. Incorporate first, then apply.

Is the IEC enough to start importing food, medicines or electronics?

No. Those goods need product-specific permissions. For food, an importer needs a central FSSAI licence whatever its turnover.

Can I surrender an IEC?

Yes. Surrender is voluntary, and you can apply again later.

What to do next

1. Decide whether you really need an IEC. If you ship goods, apply. If you export only services, ask your bank, payment processor and clients first.
2. Collect your PAN, Aadhaar, address proof, bank proof and, for entities, the constitution documents.
3. Apply on the DGFT portal and keep the certificate with your records.
4. File the LUT on the GST portal before the first export invoice of the financial year.
5. Set a reminder for 1 April for the IEC update.
6. If you export services, ask your bank how it wants the monthly EDF from 1 October 2026.
7. Ask your bank about the realisation period for your export and put the date in your calendar.

If you want help with IEC registration, GST on exports, or choosing the right entity for an export business, contact RegisCorp.

This post is general information, not legal advice. Rules change, so check your facts with a qualified professional before you act.

Sources and what we could not verify

Sources used

• Tax Garden, IEC registration guide: IEC fee, documents, process, annual update and penalties. Updated 10 August 2026.
• AAP Tax Law, IEC registration online 2026: eligibility, fee schedule and deactivation. Updated September 2026.
• Trade Viser, import-export licence fees: fee table. Published 23 September 2026.
• DisyTax, IEC for software export: the position of service exporters. Dated 27 September 2026.
• IncorpX, LUT for GST export FY 2026-27: LUT rules. Updated 2 August 2026.
• The Pulse Signal, DGFT rupee export payment rules 2026: Notification 30/2026-27.
• TaxGuru, RBI Export Declaration Form for services from 1 October 2026 and FEMA Expert, from SOFTEX to unified EDF: the EDF regime.
• A2Z Taxcorp, DGFT tariff rate quotas under the India-New Zealand FTA: the example of a recent import notification.

All are secondary or commercial sources. We did not open the DGFT portal, the RBI site, the GST portal or the Gazette. Several of these pages carry promotions for the publisher's own services.

What we could not verify

• The text of DGFT Notification 30/2026-27 and whether it is as described.
• The RBI regulations on export and import of goods and services, the date of issue, the amendment of 22 September 2026, and the realisation periods. Sources disagree between nine months and longer periods.
• Whether EDF filing applies to every service export regardless of value, and the exact filing deadline.
• Whether an IEC is legally required for pure service exports, and the Rs 5 lakh figure quoted by one consultancy.
• The fee for late updating (Rs 200 in one source) and whether modification is free or Rs 200 a change.
• Whether SEIS is currently operating and on what terms.
• The documents DGFT currently asks for, including the form of bank proof, and the time taken to issue the IEC.
• The LUT interest rate of 18 percent and the unrealised-proceeds rule, which come from a commercial article.
• The council membership fees, which are indicative.
• The penalty provisions of the Foreign Trade (Development and Regulation) Act as summarised by consultancies.
• Any notification issued after 20 October 2026.