7 Steps to Update Your IEC Code Online in 2021
If you are an exporter or importer in India, you need to have an Importer Exporter Code (IEC) to carry out your business activities. An IEC is a 10-digit alphanumeric code issued by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry. It is a mandatory requirement for all exporters and importers, except for some specified categories of persons or organizations.
But what if your IEC details change over time? For example, you may change your address, name, bank account, email, phone number, etc. In that case, you need to update your IEC code online to reflect the latest information. Updating your IEC code is also important to avoid any penalties or delays in your export-import transactions.
In this article, we will show you how to update your IEC code online in 7 easy steps. Follow these steps to keep your IEC code updated and valid.
Step 1: Visit the DGFT website
The first step is to visit the DGFT website at https://dgft.gov.in/. This is the official portal for all matters related to foreign trade in India. Here, you can apply for a new IEC code, modify an existing one, check the status of your application, download certificates, etc.
Step 2: Log in with your credentials
The next step is to log in with your credentials. You need to have a valid username and password to access the online services of the DGFT website. If you do not have an account, you can create one by clicking on the “Register” option on the homepage. You will need to provide some basic details such as your name, email, phone number, PAN, etc. to create an account.
Once you have an account, you can log in by clicking on the “Login” option on the homepage. You will be redirected to a dashboard where you can see various options such as “IEC”, “MEIS”, “SEIS”, etc.
Step 3: Click on the “IEC” option
The third step is to click on the “IEC” option on the dashboard. This will take you to a page where you can see various sub-options such as “Apply IEC”, “Modify IEC”, “Print IEC”, etc.
Step 4: Click on the “Modify IEC” option
The fourth step is to click on the “Modify IEC” option on the page. This will take you to a page where you can see a form with various fields such as “IEC Number”, “PAN”, “Name of Applicant”, etc.
Step 5: Fill in the required details and upload the necessary documents
The fifth step is to fill in the required details and upload the necessary documents. You need to enter your IEC number and PAN in the respective fields and click on the “Search” button. This will fetch your existing IEC details from the database and display them on the screen.
You can then edit any field that needs to be updated, such as your address, name, bank account, email, phone number, etc. You also need to upload scanned copies of supporting documents such as proof of address, proof of identity, bank certificate, cancelled cheque, etc. The documents should be in PDF format and should not exceed 5 MB in size.
Step 6: Pay the modification fee and submit the form
The sixth step is to pay the modification fee and submit the form. The modification fee for updating your IEC code is Rs. 200/- per request. You can pay this fee online using various modes such as net banking, debit card, credit card, UPI, etc.
Once you have paid the fee, you can submit the form by clicking on the “Submit” button at the bottom of the page. You will receive an acknowledgement number and a confirmation email after submitting the form.
Step 7: Check the status of your modification request
The seventh and final step is to check the status of your modification request. You can do this by visiting the DGFT website again and clicking on the “IEC” option on the dashboard. Then, click on the “Status of Modification Request” option on the page.
Here, you can enter your acknowledgement number and click on the “Search” button. This will show you whether your modification request has been approved or rejected by the DGFT authorities. If approved, you can download your updated IEC certificate from the website. If rejected, you can check the reason for rejection and reapply with correct details and documents.
Updating your IEC code online is a simple and hassle-free process that can save you time and money. By following these 7 steps, you can keep your IEC code updated and valid for all your export-import activities. Remember to update your IEC code whenever there is any change in your details to avoid any penalties or delays in your foreign trade transactions.
How to update IEC code
IEC code, or Import Export Code, is a 10-digit number issued by the Director General of Foreign Trade (DGFT) to any person or entity that wants to engage in international trade in India. It is a mandatory requirement for exporting or importing goods or services from or to India, and it has lifetime validity.
However, there may be situations where you need to update your IEC code, such as:
- Change of name, address, constitution, ownership, or bank account details of the IEC holder
- Addition or deletion of branches or units covered by the IEC
- Cancellation or surrender of the IEC
- Any other modification as required by the DGFT
In this article, we will explain how to update your IEC code online using the DGFT website.
Steps to update IEC code online
- Visit the DGFT website at https://dgft.gov.in/ and click on the “Services” tab. Then select “IEC” from the drop-down menu.
- On the next page, click on “Online IEC Application” and log in with your username and password. If you do not have an account, you can create one by clicking on “Register here”.
- After logging in, you will see your IEC dashboard. Click on “Modify IEC” and select the type of modification you want to make from the list.
- Fill in the required details and upload the supporting documents as per the checklist given on the website. The documents may vary depending on the type of modification, but some common ones are:
- PAN card of the applicant
- Address proof of the applicant
- Bank certificate or cancelled cheque
- Digital photograph of the applicant
- Certificate from Chartered Accountant or Company Secretary (if applicable)
- Any other document as specified by the DGFT
- Pay the fee for modification, which is Rs. 200 for each request. You can pay online using net banking, debit card, credit card, or UPI.
- Submit your application and take a printout of the acknowledgement receipt. You will also receive an email confirmation with your application number.
- Track the status of your application online using your application number. You can also contact the regional office of DGFT for any queries or assistance.
- Once your application is approved, you will receive an updated IEC certificate online. You can download it from your dashboard and print it for your records.
Benefits of updating IEC code
Updating your IEC code is important for maintaining compliance with the foreign trade policy and avoiding any penalties or delays in your export or import transactions. Some of the benefits of updating your IEC code are:
- It ensures that your IEC details are accurate and up-to-date with the DGFT database.
- It enables you to avail various benefits and schemes under the foreign trade policy, such as duty drawback, export promotion capital goods (EPCG), advance authorization, etc.
- It facilitates smooth clearance of your goods or services at customs and other authorities.
- It enhances your credibility and reputation as a reliable exporter or importer in the global market.
IEC code is a vital document for any exporter or importer in India. It is advisable to update your IEC code whenever there is any change in your business profile or particulars. You can update your IEC code online using the DGFT website in a few simple steps. By doing so, you can ensure compliance with the foreign trade policy and enjoy various benefits and incentives for your international trade activities.
References:
https://www.eda.admin.ch/content/dam/mission-onu-omc-aele-geneve/en/documents/GI–en-chiffres_EN.pdf
https://www.iec.ch/dyn/www/f?p=103:5:0##ref=menu
https://www.iec.ch/dyn/www/f?p=103:9:0
https://cleartax.in/s/import-export-code/
https://www.caclubindia.com/articles/iec-code-42675.asp
https://www.onlinelegalindia.com/services/online-iec-code-import-export-license/
https://dgft.gov.in/
https://dgft.gov.in/CP/?opt=iec-modify
https://dgft.gov.in/CP/?opt=iec-status
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