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24
Feb
Now Update IEC code every year, else de- activation
New circular for applying, updating IEC (Now e-IEC). Every year from April to June even if all details of IEC remain same all existing holders have to confirmed compulsory. IEC may be de-activated if not updated/ confirmed. Whatever queries raised by DGFT will be flagged in IEC and reply has to be given within specified time.
Detail circular below
Amendment of Importer-Exporter Code (IEC) related provisions under Chapter-1 and Chapter-2 of Foreign Trade Policy, 2015-2020
S.O.(E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the IEC related provisions under Chapter-1 and Chapter-2 of Foreign Trade Policy, 2015-2020.
Following paragraphs of Foreign Trade Policy, 2015-2020 are amended as below:
| Existing Text | Amended Text |
| 1.11 Issue of e-IEC (Electronic- Importer Exporter Code) | 1.11 e-IEC (Electronic-Importer Exporter Co de) |
| (a) Importer Exporter Code (IEC) is a mandatory for export/import from/to India as detailed i n paragraph 2.05 of this Policy. DGFT issues Importer Exporter Code in electronic form (e- IEC). For issuance of e-IEC an application can be made on DGFT (http//:dgft.gov.in). Applicant can upload the documents and pay the requisite fee through Net banking. Applicant shall, however, submit the application duly signed digitally. | Importer Exporter Code (IEC) is mandatory for export/ import from/to India as detailed in paragraph 2.05 of this Policy. DGFT issues Importer Exporter Code in electronic form (e-IEC). Application for issuance of e-IEC can be made directly on the DGFT web portal (https//www. dgft.gov.in). |
| 2.05 Importer-Exporter Code (IEC) | 2.05 Importer-Exporter Code (IEC)/(e-IEC) |
| (c) Application process for IEC is completely online and IEC can be generated by the applicant as per the procedure detailed in the Hand book of Procedure | (c) Application process for IEC and updation in IEC is completely online and IEC can be generated by the applicant as per the procedure detailed in the Handbook of Procedure |
The following sub-paragraphs are inserted under para 2.05 of Chapter-2 of Foreign Trade Policy, 2015-2020 as under:
| FTP Paragraph no. | Text added (New) |
| 2.05(d) | An IEC holder has to ensure that details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details same also needs to be confirmed online. |
| 2.05(e) | An IEC shall be de-activated, if it is not updated within the prescribed time. An IEC so de-activated may be activated, on its successful updation. This would however be without prejudice to any other action taken for violation of any other provisions of the FTP. |
| 2.05(f) | An IEC may be also be flagged for scrutiny. IEC holder(s) are required to ensure that any risks flagged by the system is timely addressed; failing which the IEC shall be deactivated. |
The sub paras 1.11(b), 1.11(c) and 1.11(d) of Foreign Trade Policy, 2015-2020 are deleted.
Effect of this Notification: IEC related provisions in Chapter-1 and Chapter-2 of Foreign Trade Policy, 2015-2020 are amended/deleted and new provisions inserted.
This issues with the approval of Minister of Commerce & Industry.
Director General of Foreign Trade& Ex- officio Addl. Secretary to the Government of India
Reference: Now Update IEC code every year, else de- activation – Faceless Compliance on 24-02-2021
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