IEC code has huge benefits for importer and exporter. The iec code registered business would be able to get benefits like: subsidies from government, Tax benefits under Export promotion council and other authorities. Apart from this, the following benefits after registration under IEC code will be available:

 Opening International Doors

Globalization has adopted in India in 1991 by finance minister Dr. Manmohan Singh. After introduction of globalization, India was able to import and export of goods. Products manufactured in India can sale in other countries. Hence, IEC open the international doors for business.

Export without payment of Taxes

Government is promoting Exports from India to maintain balance of trade. After filing LUT (Letter of Undertaking) under GST, exporters can export the goods without payment of taxes. If exporters export the goods with payment of taxes, they can claim refund of taxed paid.

Subsidies from Government schemes

Government introduce Foreign trade policy for 5 years to promote International trade and provide huge export benefits scheme under the policy. The iec registered business can only claim the benefits of the schemes.

No renewal required of IEC

Once registered under IEC Code, it is valid for lifetime. Hence, there will not be any monthly or annual compliance, saving in time and cost. 

Legally accepted

Import export code is the only license which allows import and export of goods and services for business purpose. It is the only license which allows cross border transactions.