7 Steps to Update Your IEC Code Online Easily
If you are an importer or exporter in India, you must have an Import Export 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 importing or exporting goods or services from India.
However, having an IEC is not enough. You also need to update your IEC every year to keep it valid and active. Updating your IEC is a simple online process that can be done on the DGFT website. Here are the steps to update your IEC code online:
Step 1: Visit the DGFT portal
Go to the DGFT portal by clicking here . You will see a homepage with various options and services. Click on “Services” and then select “IEC Profile Management” from the drop-down menu.
Step 2: Login to your account
You will be redirected to a login page where you need to enter your username and password. If you do not have an account, you need to register as a new user by clicking on “Register as New User” and following the instructions. After logging in, you will see your dashboard with your IEC details.
Step 3: Click on “Update IEC”
On your dashboard, under “Import Export Code (IEC)”, you will find a link that says “Update IEC”. Click on it to proceed to the next step.
Step 4: Fill in the details
You will see a form with various fields that you need to fill in with the latest and correct information. Some of the fields are mandatory, such as PAN, GSTIN, bank account details, email ID, mobile number, etc. You also need to upload some documents, such as address proof, cancelled cheque, etc. You can check the list of required documents here .
Step 5: Verify your details
After filling in all the details, you need to verify them by clicking on “Verify Details”. You will see a summary of your information and a declaration that you need to accept. You also need to enter an OTP that will be sent to your registered mobile number and email ID.
Step 6: Submit the form
Once you verify your details, you can submit the form by clicking on “Submit”. You will see a confirmation message that your IEC update request has been submitted successfully.
Step 7: Download the updated IEC certificate
After submitting the form, you can download your updated IEC certificate by clicking on “Download Certificate”. You can also view your updated IEC status by clicking on “View Status”.
By following these steps, you can update your IEC code online easily and quickly. Updating your IEC is important to avoid any penalties or suspension of your code by the DGFT. It also helps you to avail various benefits and schemes offered by the government for exporters and importers.
How to Update IEC Code Online: A Guide for Importers and Exporters
IEC code, or Importer Exporter Code, is a 10-digit identification number issued by the Directorate General of Foreign Trade (DGFT) to any person or entity engaged in international trade in India. It is mandatory to have an IEC code for importing or exporting goods or services from or to India.
However, having an IEC code is not enough. According to the DGFT notification No. 58 dated 12.02.2021, all IEC holders are required to update their IEC details electronically every year, failing which their IEC shall be deactivated. The updation process is free of cost and can be done online through the DGFT website.
In this article, we will explain how to update IEC code online in three easy steps, and why it is important to do so.
Step 1: Login to the DGFT portal
The first step is to visit the DGFT portal by clicking here. You will need to login to your account using your IEC number and password. If you do not have an account, you can register as a new user by clicking on the “Register” button.
Step 2: Fill the IEC update form
Once you login, you will see a dashboard with various options. Click on the “IEC Profile Management” option under the “Services” tab. You will be redirected to a page where you can view your IEC details and update them if needed.
To update your IEC details, click on the “Update IEC” button at the bottom of the page. You will see a form with various fields such as name, address, contact details, bank details, etc. You can edit any field that needs updation by clicking on the “Edit” icon next to it.
You will also need to upload some documents as proof of your updated details, such as PAN card, address proof, bank certificate, etc. The list of documents required for each field is given on the DGFT website here.
Step 3: Submit the form and verify UDIN
After filling and uploading all the required details and documents, click on the “Submit” button at the bottom of the page. You will see a confirmation message that your IEC updation request has been submitted successfully.
You will also receive an email from DGFT with a link to verify your UDIN (Unique Document Identification Number). UDIN is a 15-digit number generated by the Chartered Accountant who has certified your documents. You need to click on the link and enter your UDIN to verify it.
Once you verify your UDIN, your IEC updation process is complete. You can check the status of your request by logging in to the DGFT portal and clicking on the “View IEC Related Details” option under the “Services” tab.
Why is it important to update IEC code online?
Updating your IEC code online every year is important for several reasons:
- It ensures that your IEC details are accurate and up-to-date, which helps in smooth and hassle-free transactions in international trade.
- It prevents your IEC from being deactivated by DGFT, which can affect your import-export business adversely.
- It helps in availing various benefits and schemes offered by the government for exporters and importers, such as duty drawbacks, export incentives, etc.
- It helps in complying with the legal and regulatory requirements of foreign trade in India.
Therefore, if you are an importer or exporter in India, you should update your IEC code online every year without fail. It is a simple and free process that can save you from a lot of trouble and losses in the future.
References:
https://www.eda.admin.ch/content/dam/mission-onu-omc-aele-geneve/en/documents/GI–en-chiffres_EN.pdf
http://www.iec.ch/dyn/www/f?p=103:9:0
http://www.iec.ch/dyn/www/f?p=103:5:0
http://webstore.iec.ch/
https://www.iec.ch/dyn/www/f?p=103:9:0
https://www.youtube.com/watch?v=B5zrx5k8QC4
https://www.legalwiz.in/blog/iec-code-renewal-process-to-update-iec
https://vakilsearch.com/blog/how-to-update-my-import-export-code-iec-registration-in-india
https://www.dgft.gov.in/CP/?opt=iec-profile-management
Essential Topics You Should Be Familiar With:
