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.

[Raam Srinivasan Swaminathan Kalpathi]

Dear Querist

Primari reason why IEC is required if there is a plan to import goods into or export goods out of India. IEC is also mandated if you are availing or eligible for any benefits / incentives under Foreign Trade Policy. If you are seeking/ availing neither IEC is not required. Thanks

AI Summary

IEC registration for service exports is generally unnecessary, with GST documentation and foreign currency proof remaining the main compliance focus. IEC registration is generally not required solely for exporting services such as IT outsourcing, accounting outsourcing, bookkeeping, payroll processing, or similar professional support services to foreign clients. For such service exports, the key compliance focus is GST export documentation and proof of receipt of foreign currency through authorized banking channels. IEC is primarily associated with import and export of goods, though it may be relevant for availing benefits or incentives under the Foreign Trade Policy or related schemes.