IEC - Page 2

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....

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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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Import Export In India- IEC, Tax & Licenses Registration

You will be very surprised to know that India is the 14th largest exporter of goods and services in the world. According to a recent report by the HSBC. India will be among the top 5 exporters by 2030. In last few years the Government of India is aggressively promoting the initiative of “Make in […]...

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Posted Under: DGFT |

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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Import Export Code

In this write-up, I am going to discuss the Import Export Code (hereinafter called IEC.) Import Export Code is the alphanumeric code similar to the PAN of the Company/Individual/Firm, as the case may be. It is used for the identifications of the importer and exporter....

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Posted Under: DGFT |

Import Export Code (IEC)- Benefits, Updation & Who can obtain

IEC is a business identification number issued by the Director General of Foreign Trade (DGFT) to an importer or exporter. A person cannot import or export unless he is in the possession of an IEC number. Where a person import or export of any service or technology, the IEC number shall be required only when […]...

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Posted Under: DGFT |

Updation/Modification in e-IEC (Import Export Code)

The DGFT vide Notification No. 58/2015-2020, dated February 12, 2021 amended certain provisions of Chapter 1 and Chapter 2 of the Foreign Trade Policy, (2015-2020) (“FTP”), related to Import Export Code (“IEC”). As per amended provision: 1. DGFT issues IEC in electronic form (e-IEC). Application for issuance of e-IEC can be made d...

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Posted Under: DGFT |

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, New Delhi -110 011 New Delhi Notification ...

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All you need to know about Surrender of IEC License

Many times, it happens when one starts a business, fulfils all the necessary compliances, takes all the necessary registration required to start a business. But during the course of business, it happens that one needs to close a business or wind up the company or one is forced to close a particular division of the […]...

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Posted Under: DGFT |

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