What is the cost of IEC license?

The cost of obtaining an Importer Exporter Code (IEC) license in India is quite affordable. The official government fee for applying for an IEC through the DGFT (Directorate General of Foreign Trade) portal is ₹500 only. This fee is a one-time charge and must be paid online during the submission of the application. The payment can be made through various digital modes such as net banking, credit or debit card, or UPI.

Once the IEC is issued, it is valid for a lifetime and does not require any renewal. However, as per DGFT’s latest guidelines, all IEC holders must update their IEC details online every year, even if there are no changes. This update is mandatory and must be done between April and June each year. Failing to update the IEC can lead to its deactivation, though it can be reactivated later by completing the update.

It is important to note that while the government charges only ₹500, if you seek assistance from a consultant or a third-party service provider to file your application, they may charge an additional service or professional fee. These charges vary depending on the agency. However, if you are familiar with the digital process and have the required documents (like PAN, bank details, and DSC or Aadhaar for e-signing), you can easily apply on your own through the DGFT portal.

In summary, the official cost of an IEC license is ₹500, and it is a simple, online, and cost-effective process suitable for individuals and businesses engaged in international trade.