IEC Code or Importer & Exporter Code is s unique 10 digit code . This code is allotted by the Director General of Foreign Trade under Section 7 of the Foreign Trade (Development & Regulation) Act, 1992 (22 of 1992) . It is found from readers & postings of queries on various blogs and sites , that freelancers from India who work on oDesk or Freelancers dot com or elance or elsewhere are concerned whether they are breaking law by not obtaining IEC codeÂ or whether such code is indeed mandatory for doing job for foreign service recipients. It is sorry to note that most of the sites and blogs are publishing only half of the law and explains only partially the actual law which regulates IEC Code . Thus ,more confusion have been generated for freelancersÂ on this issue.
Accordingly , taxworry.com has decided to publishÂ a series of articles for the benefit of freelancers who are exporting their expertise from India . First in the series is the article explaining theÂ actual law of Importer & Exporter Code ( IEC Code ) andÂ why most of the freelancers from IndiaÂ would not be required to apply forÂ it .