The DGFT has issued the trade notice for linking or registration of Importer Exporter Codes (IECs) in the newly revamped DGFT Online environment. Authorities said online processes related to the entire lifecycle of Advance Authorization, EPCG, and DFIA including Paperless Export Compliance (EODC), will be available soon
In an increasingly digitized world, the scope for import and export of goods and services has multiplied. Whether you are a partner or a company, you have the opportunity to make money by selling your core products abroad. It may also be advantageous to source product parts from other countries to make them cheaper. This makes the Import Export Code an important document for all international commercial exchanges of goods. In this post, we address whether you need to renew the IEC code.
IEC Renewal– Does the importer-exporter code expire?
The import/export code is a 10-digit number issued by the Director of the Foreign Trade Bureau of the Ministry of Commerce. IEC applications are once submitted and approved for life. Therefore, unlike most licenses, IEC numbers do not expire and do not need to be renewed.
Updating an existing IEC number – How do I modify an IEC certificate?
Often, the phone number or email ID associated with existing account changes. You can also edit the company name and change it to something different from what is in the IEC certificate. The company name may be completely changed from the name originally registered with the company registrar. In all these cases, you will need to apply for a change to the existing IEC certificate.
Existing IEC registration and update process:
New users must register on the website of the General Directorate of Foreign Trade. It can be accessed at https://www.dgft.gov.in/CP/. To do this, you will need to enter your email address, mobile number, pin code, region, state, and city. You will also need to select “Importer/Exporter” from the drop-down menu in the new user portal. You must enter the OTP received with the registered mobile phone number.
Registration requires proof of business address, articles of association, cancelled bank check, Aadhar details of partner or owner, and digitally signed certificate.
Upon successful registration, you can submit your new details to the IEC. To do this, click the “Services” tab in the menu bar and select “IEC”. Here, select the “IEC Online Application” tab.
Enter your PAN number, name, date of birth or registration information (if applicable) here. You will also need to enter your registered mobile phone number and click “Create one-time password”.
On the landing page, enter your branch details (if your business has multiple branches), director and partner details with proof of residency, and your IDS email address.
Upload a document confirming reimbursement of a check or bank statement. The IEC application system only accepts the PDF format with files up to 5 MB.
Click on Pay Commission Portal. You can pay the required fee of £250 via internet banking, debit, or credit card. The portal also generates a DGFT reference number to use to check the IEC support status.
After paying the participation fee and submitting the application form, you can print the application form.
To change or renew any part of the IEC certificate granted, return to step 2 of the Services tab and select Change IEC from the drop-down menu.
Enter your existing IEC number in the field provided to verify and authenticate using a digitally signed certificate. Once bound, you can select the IEC Edit tab in the portal and make any necessary changes.
How to apply for an IEC “Revoke Suspension”?
The Director of Foreign Trade (DGFT) should discontinue existing IEC certificates issued to exporters or importers. This may be due to the following reasons:
• Violation of currency rules
• Fraud for customs, excise tax, or compliance with the law
• Damage the reputation of trade relations with India.
DGFT does this only after the notification has been sent. It also provides a hearing opportunity for importers or exporters whose licenses must be revoked or suspended.
Importers/exporters can apply to stop the recall after connecting IEC on the portal. Sign the request and submit it online. Requests must be approved by the relevant Regional Office (RA). A request to cancel an IEC cancellation is initiated by the relevant regional office and sent to the DGFT headquarters for approval.