Every person having an activity of Import and Export has to get a registration called as the Import Export Code(IEC) from The Directorate General of Foreign Trade (DGFT). IEC is a mandatory requirement if you want to have an import and export activity as a part of your business and keep your business compliant.
Requirement: Both the exporters and importers require IEC
Validity: Once registered the IEC has a lifetime validity unless it is revoked by DGFT
Returns: There is no requirement to file any specific returns