IEC code- Exporter of Service - accounting/IT support service

[Shan S]

Does IT or accounting outsource support need IEC code registration?

Can you let me know what is the importer exporter code used for?

[YAGAY andSUN]

If your business is engaged only in IT outsourcing, software services, accounting outsourcing, bookkeeping, payroll processing, or other professional/support services for foreign clients, IEC is generally not required solely for exporting those services. The more important compliance aspects are GST export documentation and proof of receipt of foreign currency through authorized banking channels.

However, it is highly adviseable to apply for IEC from DGFT or Development Commissioner (as the case may) for availing certain benefits as granted by GOI, EPCs, GST Department.

AI Summary

Import Export Code requirements for outsourced IT and accounting support services in export of service compliance. Import Export Code (IEC) requirements are raised in the context of export of services, specifically whether outsourced IT support or accounting support services require IEC registration. The discussion also concerns the general function of IEC as an identification code used for import and export activities under the trade compliance framework.