Without an Import Export Code or <a href="https://whizseed.com/service/iec-import-export-code-certificate"> IEC Certificate</a>, you cannot import or export legally and no government trade incentives can be accessed for the cross-border transactions. IT is simply a one-time registration certificate that should be updated every year between 1st April and 30th June, making it the basis of every import-export business in India.