Ref: https://www.dgft.gov.in/CP/?opt=iec-profile-management
An Importer -Exporter Code (IEC) is a key business identification number which mandatory for export from India or Import to India. No export or import shall be made by any person without obtaining an IEC unless specifically exempted. For services exports however, IEC shall be not be necessary except when the service provider is taking benefits under the Foreign Trade Policy.
Consequent upon introduction of GST, IEC being issued is the same as the PAN of the firm. However, the IEC will still be separately issued by DGFT based on an application. The nature of the firm obtaining an IEC may be any of the follows- Proprietorship, Partnership, LLP, Limited Company, Trust, HUF, Society.
So we need not apply for IEC unless we are claiming SEIS benefits (Ref: https://www.dgft.gov.in/CP/?opt=seis) and can quote PAN of the firm instead. In case if you are an individual, you can register yourself as a Proprietorship and quote your PAN as per the above guidelines.
@Bella It would be nice if you can add a notification somewhere on Udemy instructions / FAQs on this. The quoted government website belongs to DGFT - Directorage General of Foreign Trade.
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