DGFT : Learn the step-by-step procedure for obtaining an IEC code for import/export in India, including necessary documents and registrat...
Excise Duty : Unlock global trade success with the IEC code. Learn its legal significance, role in customs clearance, financial transactions, an...
DGFT : Learn how to surrender IEC license online effortlessly. Understand the reasons, process, and required documents for IEC surrender....
DGFT : Learn what an IEC (Import Export Code) is and why it's important when conducting business abroad. Get insight on how to obtain it ...
DGFT : In the realm of international trade, the Import Export Code (IEC) plays a pivotal role, serving as a fundamental requirement for b...
DGFT : Only one Importer Exporter Code (IEC) is allowed against a single Permanent Account Number (PAN) issued by Department of Income Ta...
Custom Duty : Explore the CESTAT Delhi order on the admissibility of Section 108 statements under the Customs Act, revealing violations and pena...
Custom Duty : Mahaveer NX challenges a customs order citing address discrepancy & lack of hearing. Madras HC sets it aside, directing issuance o...
DGFT : Smarte Solutions Pvt. Ltd. Vs Union of India (Bombay High Court) The Hon’ble High Court, Bombay in the matter of M/s Smarte Solu...
Custom Duty : Falcon India (Customs Broker) Vs Commissioner of Customs (CESTAT Delhi) Regulation 10 (n) of CBLR 2018 (read with erstwhile Regula...
Custom Duty : The order of confiscation with an option for redemption fine and penalty for importer not having Importer Exporter Code (IEC) numb...
DGFT : Stay updated on the recent amendments to Indias Interest Equalization Scheme, their implications, and the extended deadline till 3...
Custom Duty : Once registration is completed by an IEC holder for, first time import, Customs Officers will not insist upon registration for exp...
DGFT : 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...
DGFT : IEC de-activated, would have the opportunity for automatic re-activation without any manual intervention or any visits to the DGFT...
DGFT : 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 ...
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 his client at the declared […]
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-Exporter Code is a 10 digit key […]
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 IECs shall be de-activated from 01.02.2022.
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.
IEC de-activated, would have the opportunity for automatic re-activation without any manual intervention or any visits to the DGFT RA.
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 […]
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.
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.
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 […]
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 directly on the […]
