DGFT : The article argues that DGFT’s annual IEC updation forces exporters to repeatedly submit data already available with government ...
DGFT : Learn the critical legal steps for starting an export business in India, including IEC code, ICEGATE registration, and other neces...
DGFT : India's exporters face mandatory annual IEC updates from DGFT, even with no changes. This practice burdens businesses and raises c...
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 : 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 ...
When DGFT chose TCS to revamp the website/platform, I was very happy that at least for once, this combination will make the life of the exporters better. However, my happiness was shattered just by the purposeless complications in the design of the website/platform whereas the earlier DGFT website was very plain & simple. I had […]
Gujarat HC directs DGFT to address petitioner’s plea on Import Export Code (IEC) denial. Full text of the judgment included.
Importer Exporter Code (IEC), is 10-digit code, however, after implementation of GST it is the PAN of the entity, with a lifetime validity issued by the Director General of Foreign Trade (DGFT) to the importer/exporter in terms of Para 2.12 of Foreign Trade Policy(FTP 2015-20) read with Para 2.08 of Handbook of Procedure.
In case of change in constitution of a PAN based IEC by way of merger, acquisition, liquidation, inheritance etc. such that PAN of the new entity so formed is different from the earlier one, an IEC can be availed against the new PAN, if not existing already. Previous IEC(s) can also be operationally linked to the PAN/IEC of the new entity.
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.
i. The new platform is accessible through user-based IDs for applying online. All IEC holders are encouraged to create login IDs through an online registration process preferably well before the roll out of next phase of the platform in the 2-3 weeks. ii. For user ID creation, mobile number/email ids will be a mandatorily required. The same will be authenticated by the process of OTP/email based authentication process.
Q 1. What is the technical requirement for filing an IEC? Ans. -Valid Digital Signatures Token -Valid PAN -Valid Mobile Number and Email ID. -Valid Address Details of Branch Office -Valid Bank Account in the name of IEC Holder -Valid Aadhar Card matching the details with PAN Card Q 2. How to apply for new […]
Q 1. Why Digital Signature Certificate (DSC) is required for getting IEC issued from DGFT? Ans. DSC has been re-introduced in IEC to strengthen the IEC issuance and modification processes. Q 2. What type of DSC tokens are allowed and what are the validations? Ans. We support Class-2 and Class-3 token. Both Individual and Organisation […]
1. Introduction to Import and Export Code (IEC). IEC is a 10 digit alphanumeric registration number issued by DGFT (Directorate General of Foreign Trade). Every importer and exporter irrespective of form of business organization is required to obtain IEC. Import and export business are of critical importance for growth and development of any country, therefore […]
Import Export Code (IEC) is a 10 digit code number, which is issued by the Director General of Foreign Trade (DGFT).It is required by any person who is into import/export business in the country. Importers merchant cannot import goods without the Import Export Code and similarly the exporter merchant cannot avail the benefits from DGFT […]
