DGFT

Now Update IEC code every year, else de- activation

import export code

All IEC holders are now legally required to update and validate their IEC Details, even if there are no changes, from April to June once every year through Online system, failing which their IEC shall be de-activated and no import or export activity will be possible.

IEC related provisions in Chapter-1 and Chapter-2 of Foreign Trade Policy, 2015-2020 are amended/deleted and new provisions inserted. It is provided that 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.

An IEC shall be de-activated, if it is not updated within the prescribed time. 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.

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.

Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade

Notification No. 58/2015-2020

New Delhi, Dated: 12th February, 2021

Subject: Amendment of Importer-Exporter Code (IEC) related provisions under Chapter-1 and Chapter-2 of Foreign Trade Policy, 2015-2020

S.O. 656(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 TextAmended Text
1.11 Issue of e-IEC (Electronic- Importer Exporter Code)1.11 e-IEC (Electronic-Importer Exporter Code)
(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). Applica nt can upload the documents and pay the requis ite fee through Net banking. Applicant shall, h owever, 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 o nline and IEC can be generated by the applica nt as per the procedure detailed in the Handbo ok 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. 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 that any risks flagged by the system is timely addressed; failing which the IEC shall be deactivated.

4. 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.

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