should I update my IEC profile annually?

 should I update my IEC code profile annually?

What is the IEC Code?

Import-Export Code (IEC) is the 10-digit business distinguishing proof number [PAN Number] that is vital to do the Import-Export from the country; the import-send out can't be performed by any individual without having the IEC number. It is given by the DGFT (Directorate General of Foreign Trade) which is the Department of Commerce, Government of India. 

Latest Update regarding IEC

An IEC holder has to ensure that details in its IEC are updated electronically every year during the April-June period.In cases where there are no changes in IEC details, the same also needs to be confirmed online.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.An IEC may also be flagged for scrutiny. IEC holders are required to ensure that any risks flagged by the system are timely addressed, failing which the IEC shall be deactivated.

Procedure and required details/documents for IEC Updation/Modification

Linking with the IEC 

Profile created has to be linked with the existing IEC(Import-Export Code) with the help of a digital signature certificate and updated Adhar card of the applicant.This is the necessary step to be followed first before IEC updation/modification or to claim your pending benefits under Government incentive schemes such as RoDTEP Scheme, SEIS Scheme, MEIS Scheme, etc.

IEC Updation/Modification

As per the notification, we have to update the IEC every year between April and June, even if there is no amendment on the DGFT portal.If we are not updating the details of IEC every year in the stipulated time, IEC will be De-Activated.

Now, the question may arise about what kind of updation we need to do online every year, so the list of updation/modification types we can do in the IEC on the DGFT portal is given below.

Change in - registered address.Change/Add/delete - branch address.Change of - Mobile number & Email id.Change of - Bank details.Change/Add/Delete - Directors/Partners.Change of business nature.

Refer to the flowchart below to know the steps involved in the Updation/Modification of IEC.

Required Details for Registration/Profile Creation on the DGFT Portal

Person name:-Email ID For OTPMobile No For OTPDigital key or Any director/Partner/Proprietor Adhar card copy in which the details exactly match with Pan Card having Mobile registered for OTP.

Required Documents for Updation/Modification in IEC

Scan copy of Company Pan Card.Scan copy of Cancelled Cheque.Scan copy of Register address proof. - Register address proof (GST - Form GST REG - 06/Agreement copy/Electricity bill/Form- 18)All directors/Partners Pan cards, Aadhar card copies, and Mobile No.Digital key/Adhar card Registered Mobile No for OTP of any Director.Copy of GST certificate.Import Export - Products Group.Details of Amendment if any.How can we help you?  can help you get your  Import Export Code  Business Registration online. We have the best minds who are an expert in their own field who will guide you accordingly and in a very short time, you would have your  Import Export Code Business Registration Online 

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