HAVING IEC NUMBER? UPDATE & VERIFY YOUR DETAILS
Import export code or IEC is a ten-digit identification number that is issued by DGFT (Director General of Foreign Trade), Department of Commerce, Government of India and possesses a lifetime validity. It is also known as Importer and exporter code. IEC code helps a person make import and export of goods legally. It is required for the persons engaged in business of import and export of goods. Importer cannot import goods without having a valid IEC code and also the exporter cannot avail the export scheme benefit available from DGFT without having proper IEC code. As per notification no 58/ 2015-2020 dated 15th February 2021.
1. As per updated para 2.05 of Chapter-2 of Foreign Trade Policy (FTP), 2015-2020, An Importer Exporter Code (IEC) holder has to ensure that details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details same also needs to be confirmed online.
2. An IEC shall be de-activated, if it is not updated within the prescribed time. An IEC so de-activated may be activated, on its successful updation. This would however be without prejudice to any other action taken for violation of any other provisions of the FTP.
3. In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy 2015-2020, the Director General of Foreign Trade inserted a new provision under S.No. 6 of Para 1 Appendix 2K (Scale of Application Fee and procedure for Deposit/Refund of Application Fee/Penalty. It lays down that there will be a NIL scale of fee for annual Updation of IEC during the period April to June as per Para 2.05 of HBP.
Also no fee is required for updation of Importer Exporter Code (IEC).
Following Amendments have been made in the Foreign Trade Policy 2015-2020:
|Existing Text||Amended Text|
|1.11 Issue of e-IEC (Electronic- Importer Exporter Code)||1.11 e-IEC (Electronic-Importer Exporter Code)|
|(a) Importer Exporter Code (IEC) is a mandatory for export/import from/to India as detailed in paragraph 2.05 of this Policy. DGFT issues Importer Exporter Code in electronic form (e- IEC). For issuance of e-IEC an application can be made on DGFT (http//:dgft.gov.in). Applicant can upload the documents and pay the requisite fee through Net banking. Applicant shall, however, submit the application duly signed digitally.||Importer Exporter Code (IEC) is mandatory for export/ import from/to India as detailed in paragraph 2.05 of this Policy. DGFT issues Importer Exporter Code in electronic form (e-IEC). Application for issuance of e-IEC can be made directly on the DGFT web portal (https//www. dgft.gov.in).|
|2.05 Importer-Exporter Code (IEC)||2.05 Importer-Exporter Code (1EC)/(e-IEC)|
|(c) Application process for JEC is completely online and IEC can be generated by the applicant as per the procedure detailed in the Handbook of Procedure||(c) Application process for IEC and updation in IEC is completely online and IEC can be generated by the applicant as per the procedure detailed in the Handbook of Procedure|
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