But visualizing an import/export operation itself can be difficul. ... What is an Import Export Code and who needs it? Vakil Search 22 Stories. Thursday January 24, 2013, 3 min Read.

There are around 26 export promotion councils from where you can get an RCMC issued. After getting the IEC and RCMC issued, you can set up your import and export business from India.

This is because, without a code, no one knows what to charge for import/export duty and who should pay VAT, so they are likely to hold your goods at customs. You may also be unable to claim reliefs or ...

Importantly, the commerce ministry has imposed an interest subvention cap of Rs 5 crore per IEC (import-export code) for MSME manufacturers till September 30, 2024, for the current fiscal.