New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    How many digits are there in the Importer Exporter Code?

    A 10 digit numeric code Correct Answer Incorrect Answer
    B 8 digit alphanumeric code Correct Answer Incorrect Answer
    C 10 digit alphanumeric code Correct Answer Incorrect Answer
    D 12 digit numeric code Correct Answer Incorrect Answer
    E same as PAN Correct Answer Incorrect Answer

    Solution

    As per Section 7 of Foreign Trade (Development and Regulation) Act,  no person shall make any import or export except under an Importer-exporter Code Number granted by the Director General or the officer authorised by the Director General in this behalf, in accordance with the procedure specified in this behalf by the Director General.   Import Export Code (also known as IEC code) is a 10-digit alphanumeric code. This is an identification number that is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also known as Importer Exporter Code. Companies and businesses must obtain this code to start a business that deals with imports and export in the Indian territory. It is not possible to deal with export or import business without this IEC code. IEC is issued on the basis of PAN of an entity.

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