IEC

Import Export Code (IEC)- Meaning, Benefits, Registration, FAQs

DGFT - To successfully transact an import or export transaction, you need to follow specific rules and laws In India, Import Export Code (IEC) is one of the most important requirement for both import & export business. It is also called the Importer-Exporter Code. Let us know about the significance of IEC and how to obtain the IEC number. ...

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Made in India: Top 10 export products from India

DGFT - In continuation of the double-digit export growth seen in February 2017, March 2017 saw significant growth at USD 29.232.05 million, compared to USD 22,911.74 million during March 2016. For the period April to March 2016-17, the cumulative export value was USD 2,74,645.10 millions (Rs 18,41.314.39 crore), compared with USD 2,62,290.11mill...

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Annual updation/modification of IEC is now mandatory

DGFT - IEC(Import Export Code) is a mandatory identification document for carrying out any import/export activity in the Country. A business cannot make any import/export supply until and unless IEC has been obtained except under expressly provided exemptions. Earlier after making an application for IEC, a separate identification number used to ...

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How to Surrender an Import and Export Code?

DGFT - How to Surrender an Import and Export Code? HOW TO SURRENDER AN IMPORT-EXPORT CODE LICENSE? In a rapidly changing world, the potential for export and import of services and goods has increased. No matter if you’re a partnership or a corporation it is possible of profiting from the sale of your top products abroad. The outbreak ha...

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Documents required for IEC (Import Export Code) Registration

DGFT - For IEC Code Registration, the  following documents are required: -Individual’s or Firm’s or Company’s copy of PAN Card. -Individual’s voter id or Aadhar card or passport copy. -Individuals or companies or firms cancel cheque copies of current bank accounts. -Copy of Rent Agreement or Electricity Bill Copy of the premise. -A self...

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DGFT allots IEC in 73 to 977 Years in advance

DGFT - Only one Importer Exporter Code (IEC) is allowed against a single Permanent Account Number (PAN) issued by Department of Income Tax (Paragraph 2.9 of HBP). The IEC data indicates the genuineness of an exporter/ importer and determines his/her unique identity in the Trade and helps the regulatory agencies in tracking the holder in cases of...

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Customs Broker cannot use IEC of others without their knowledge for import by his client

Falcon India (Customs Broker) Vs Commissioner of Customs (CESTAT Delhi) - Falcon India (Customs Broker) Vs Commissioner of Customs (CESTAT Delhi) Regulation 10 (n) of CBLR 2018 (read with erstwhile Regulation 11(n) of CBLR, 2013) requires the Customs Broker to verify correctness of Importer Exporter Code (IEC) number, Goods and Services Tax Identification Number (GSTIN),i...

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Permanent IEC can be used for import of goods for personal use not connected with manufacture or agriculture

Subodh Menon Vs Commissioner of Customs (CESTAT Mumbai) - The order of confiscation with an option for redemption fine and penalty for importer not having Importer Exporter Code (IEC) number is invalid as there is no violation of procedure under Foreign Trade Policy if goods imported for personal use against Bill of Entry without having IEC....

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HC directs DGFT Surat decide on removal of IEC code from denial entity list

Ambika Creation Through Proprietor Anil Gupta Vs Additional Director General (GujArat High Court) - Ambika Creation Through Proprietor Anil Gupta Vs Additional Director General (Gujrat High Court) In this case Import Export Code (IEC) of the petitioner was placed under the denied entity list, causing hardship to the petitioner by withholding the refund of IGST and other export incentives. Hon’bl...

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Only DGFT Empowered to Suspend & Cancel IEC Number

Siddharth Mandavia Vs Union of India and others (Bombay High Court) - Blocking of importer exporter code of the petitioner by any authority other than the Director General of Foreign Trade or by his authorized officer under section 8 of the Foreign Trade (Development and Regulation) Act, 1992 would be unauthorized, unwarranted and without jurisdiction....

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Third phase of deactivation of IECs not updated at DGFT initiated

Trade Notice 31/2021-22-DGFT - (14/01/2022) - All IECs which have not been updated after 01.07.2020 shall be de-activated with effect from 01.02.2022. The list of such IECs may be seen at the given link (https://www.dgft.gov.in/CP/?opt=IECDL) . The concerned IEC holders are provided an opportunity to update their IEC in this interim period till...

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Automatic re-activation of IEC without manual intervention

Trade Notice 25/2021-22 - (19/11/2021) - IEC de-activated, would have the opportunity for automatic re-activation without any manual intervention or any visits to the DGFT RA....

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Extension in period of modification of IEC till 31.08.2021

Notification No. 16/2015-2020-DGFT [S.O. 3204(E)] - (09/08/2021) - Period of modification of IEC is extended for the year 2021-22 only till 31.08.2021, and no fee shall be charged on modifications carried out in IEC during the period upto 31st August, 2021....

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IEC modification/updation date extended up to 31.07.2021

Notification No. 11/2015-2020 - (01/07/2021) - In continuation to the DGFT notification No. 58, dated 12.02.2021, it is to inform that last date for modification/ updation of IEC has been extended up to 31.07.2021. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, Ne...

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DGFT IEC services not available from 01st June to 6th June 2021

Trade Notice No. 07/2021-22 - (26/05/2021) - Following DGFT services will not be available from 1 st June 2021 to 6th June 2021: i. Application for a new IEC ii. Application for Amendments/Modification in an IEC iii. One-time linking of Aadhaar for e-sign purposes. In view of the above, all stakeholders may therefore plan their activities acco...

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Recent Posts in "IEC"

Import Export Code (IEC)- Meaning, Benefits, Registration, FAQs

To successfully transact an import or export transaction, you need to follow specific rules and laws In India, Import Export Code (IEC) is one of the most important requirement for both import & export business. It is also called the Importer-Exporter Code. Let us know about the significance of IEC and how to obtain the IEC number. ...

Read More
Posted Under: DGFT |

Made in India: Top 10 export products from India

In continuation of the double-digit export growth seen in February 2017, March 2017 saw significant growth at USD 29.232.05 million, compared to USD 22,911.74 million during March 2016. For the period April to March 2016-17, the cumulative export value was USD 2,74,645.10 millions (Rs 18,41.314.39 crore), compared with USD 2,62,290.11mill...

Read More
Posted Under: DGFT |

Annual updation/modification of IEC is now mandatory

IEC(Import Export Code) is a mandatory identification document for carrying out any import/export activity in the Country. A business cannot make any import/export supply until and unless IEC has been obtained except under expressly provided exemptions. Earlier after making an application for IEC, a separate identification number used to ...

Read More
Posted Under: DGFT | ,

How to Surrender an Import and Export Code?

How to Surrender an Import and Export Code? HOW TO SURRENDER AN IMPORT-EXPORT CODE LICENSE? In a rapidly changing world, the potential for export and import of services and goods has increased. No matter if you’re a partnership or a corporation it is possible of profiting from the sale of your top products abroad. The outbreak ha...

Read More
Posted Under: DGFT |

Documents required for IEC (Import Export Code) Registration

For IEC Code Registration, the  following documents are required: -Individual’s or Firm’s or Company’s copy of PAN Card. -Individual’s voter id or Aadhar card or passport copy. -Individuals or companies or firms cancel cheque copies of current bank accounts. -Copy of Rent Agreement or Electricity Bill Copy of the premise. -A self...

Read More
Posted Under: DGFT |

Customs Broker cannot use IEC of others without their knowledge for import by his client

Falcon India (Customs Broker) Vs Commissioner of Customs (CESTAT Delhi)

Falcon India (Customs Broker) Vs Commissioner of Customs (CESTAT Delhi) Regulation 10 (n) of CBLR 2018 (read with erstwhile Regulation 11(n) of CBLR, 2013) requires the Customs Broker to verify correctness of Importer Exporter Code (IEC) number, Goods and Services Tax Identification Number (GSTIN),identity of his client and functioning of...

Read More

Importer-Exporter Code (IEC Code)

IMPORTER-EXPORTER CODE In today’s era, every business wants to expand their market globally to sustain in prevailing market competition. In order to expand their business beyond the domestic market, such businesses need to obtain Importer-Exporter License which is to be issued by Director General of Foreign Trade (DGFT). Importer-Export...

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Posted Under: DGFT |

Third phase of deactivation of IECs not updated at DGFT initiated

Trade Notice 31/2021-22-DGFT 14/01/2022

All IECs which have not been updated after 01.07.2020 shall be de-activated with effect from 01.02.2022. The list of such IECs may be seen at the given link (https://www.dgft.gov.in/CP/?opt=IECDL) . The concerned IEC holders are provided an opportunity to update their IEC in this interim period till 31.01.2022, failing which the given IEC...

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Permanent IEC can be used for import of goods for personal use not connected with manufacture or agriculture

Subodh Menon Vs Commissioner of Customs (CESTAT Mumbai)

The order of confiscation with an option for redemption fine and penalty for importer not having Importer Exporter Code (IEC) number is invalid as there is no violation of procedure under Foreign Trade Policy if goods imported for personal use against Bill of Entry without having IEC....

Read More

Automatic re-activation of IEC without manual intervention

Trade Notice 25/2021-22 19/11/2021

IEC de-activated, would have the opportunity for automatic re-activation without any manual intervention or any visits to the DGFT RA....

Read More

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