Import Export Code Updation
What is Import Export Code IEC change or Updation?
In the regular course of business, we encounter certain changes which directly affect our registration particulars under IEC. Once IEC issued and registered dealer required change (Name, Address, Goods/Services etc.) after registration is called Import Export Code IEC change or Updation.
When Import Export Code IEC change or Modification required?
When any particulars of registered dealer change then Import Export Code IEC change or Updation required.
Advantage of Import Export Code IEC change or Modification
* No hurdle at port due to data mismatched
* Touching international boundaries for trade. With IE Code one can expand business and reach customers internationally.
* IE Code is issued for a lifetime, one-time activity with lifetime benefits.
* Avail discounts and subsidies granted by DGFT.
* IE Code doesn’t require any filling
* Any proprietor business identity can obtain IE Code
Allotment of IEC
After the application and the attached supporting documents are verified, the Directorate General of Foreign Trade will issue a IEC for the business.
Documents Required for Import Export Code Updation
Proprietor
One Person Company
Private Limited
Public Limited
Partnership Firm
LLP
NGOProcess Involved
Step 1
Documentation
Step 2
Application for IEC
Step 3
Client Confirmation
Step 4
Submission of Application
Step 5
Hard Copy Submission
Step 6
Import Export Code
FAQ'S
- Can Export/Import be made without IEC?
- No. IEC forms a primary document for recognition by Govt. of India as an Exporter/ Importer
- What are the documents required for modification of IEC?
- Application form ANF-2A to be filled in and all pages of the application to be signed. Proof of change of name/address/branches/constitution of Ltd. Companies etc.(Form 32/Form 18/company master details issued by ROC along with copy of challan) For proprietorship/partnership Firms any address proof issued by government depptt. Copy of ownership title deed or copy of lease deed registered. Fresh Bank certificate certifying the detail of the bank A/c, registered address, and photographs of the applicant in case of change of applicant
- What should an exporter do if he does not wish to operate or wish to cancel the allotted IEC Number?
- He may surrender the original IEC by fulfilling all pending Liabilities (Export obligation fulfillment of all incentive Authorizations) and filing a declaration to IEC issuing DGFT office that there is no obligation/Liability pending against him for any office of DGFT. On receipt of such intimation; this office shall cancel the IEC if satisfied that there is no Liability pending against the IEC holder and electronically transmit it to DGFT for onward transmission to Customs and Regional Licensing Authorities. Normal Time required for processing cancellation of IEC is 15 working days.
- Can a Public Limited Co./Private Limited Co./Partnership obtain different IECs for different concerns owned by it?
- No. However the name of each concern owned by such a company may be included in the IEC of the firm in whose name PAN exists, as a branch.
- How to make changes of directors, change of name or constitution, change of address or addition/deletion of branch in IEC?
- Request letter on Letter Head for Status Modification. Application as per Appendix 2 and 3 in duplicate. Documentary evidence preferably Electric bill, telephone bill, lease agreement copy, Sales Tax/Excise Certificate/SSI for change or inclusion of addresses. For change of directors please submit copy of Form-32. In case of change of name or change of constitution, ROC/Partnership deed copy as applicable should be submitted. Also refer to para 9.1(b) of H.B.2002-2007 regarding change in name and constitution is reproduced below
- How much time it take to get an IE code registered?
- E Code Registration can be obtained in 7-8 working days after submission of all required documents and application.
- What is IE CODE number used in Export Import business?
- EC Stands for IMPORTER EXPORTER CODE which contains 10 digit number issued by Director General of Foreign Trade(DGFT), Department of Commerce, Government of India
- Who must obtain IE code Registration?
- Any person who proposes to import or export goods and services from or to India must obtain IE Code.
- Why is IE Code Required?
- All importers must mention their IE Code while clearing customs when their goods arrive in India. All exporters must mention their IE Code while exporting their goods and services from India. Additionally, now RBI requests person importing or exporting services to also mention IE Code in foreign remittances in bank account. Therefore, IE Code is required for anyone involved in import or export in India.
