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PROCESS OF REGISTRATION OF IEC CODE

PROCESS OF REGISTRATION OF IEC CODE

IEC Code .

With the ongoing development in technology, the IEC registration can now be taken or the application can now be submitted to the Regional Office of DGFT online as well.

  1. ONLINE PROCESS –
  • The applicant needs to open the website of DGFT and file the application in ANF 2A format for grant of e-EIC.
  • Persons holding digital signature can sign and authorize the application online and can submit the required documents mentioned above by scanning them and then upload on the portal.
  • In case, the applicant is not holding any digital signature, they can take the printout of the application, sign the same and then scan and upload on the portal.
  • Once the e-EIC is approved by DGFT, the applicant is notified about the same on the e-mail id provided in the application form and the notification also contains the e-EIC number allotted to the applicant.
  1. OFFLINE PROCESS –
  • The applicant is required to create an application in the same format as in the online process. After filling out the form, the same be posted to the Regional Office of DGFT within their jurisdiction.
  • Along with the application the applicant has send all the supporting information/documentation as mentioned above.
  • After successfully filling the form, the applicant must file the form with DGFT, to get it signed with a DSC and also pay the required registration fee through different modes available.
  • Once the application has been accepted/approved, the applicant will finally obtain a soft copy of IEC code by post on the address mentioned in the application.

CERTAIN PROVISIONS AND CONDITIONS FOR REGISTRATION

  1. Any person whether an individual or an entity, cannot take multiple registrations for IEC number, under the same PAN. If so, the person is required to apply for the cancellation for all the IEC numbers allotted and shall apply for a new one.
  2. In order to apply online for registration, the applicant must be having a compatible browser which is Microsoft Edge, Google Chrome, Mozilla Firefox and Apple Safari.
  3. The applicant must be in receipt of full credentials or information of the directors or trustees or any documents required for registration.
  4. Proper care be taken in filling up of application form since any discrepancy in name of the business or any other detail and scanning of documents would lead to disruption in the acceptance of the application.
  5. Also, in case of authorization of signature using digital signature, proper care be taken regarding the correctness as to the authorized signatory.
  6. There are certain payment gateways provided in order to pay the requisite fees. Once the applicant fills up the application form, he is redirected to a payment gateway wherein certain options like Internet Banking, Debit/Credit Card and UPI are available.
  7. In case the application gets rejected, the same is notified to the applicant on the registered e mail id and the same be rectified by logging into the portal using the assigned credentials. The applicant must remove the deficiency noticed by the authority and submit the rectified application on the same portal.
  8. The applicants also get the option to convert their old IEC number in a new one using the same portal.

IMPORTANCE OF UPDATED IEC DETAILSr

  • The Importer Exporter Code number is a very important document while undertaking international trade.
  • In the course of export or import activity, IEC number would be required by the shipping company to engage in foreign purchases/sales transactions. So, any discrepancy/ inconsistency information provided by the applicant in the application form like the registered addresses, PANs, identities, and partner information, may cause serious consequences.
  • Similarly, in case of online shopping websites, they include this information as part of their internal compliance with the country’s govt.
  • Also, banks that serve as an intermediary between exporter and importer from various countries ask for the IEC code of the business entity in order to receive or pay the foreign currency in the course of international trade. Thus, they can deny transactions if incorrect or mismatched details are found while approving the transaction.
  • An IEC number will be required by port or customs authorities for documentation and clearance purpose. In case the IEC number is not correctly modified/updated with the authorities, the shipment may get trapped/stuck or gets delayed at the time of arrival or departure.
  • The FSSAI has also made it compulsory for a food import or export company to submit the Importer Exporter Code to operate to the concerned authorities of FSSAI. As a result, any inconsistencies in the data provided on the DGFT, could lead to invalidation or cancellation of the food license.

PROCEDURE TO LINK PAN TO OLD IEC NUMBER

Earlier before the implementation of the GST Act, the exporter/importer of goods was not required to provide their PAN for getting IEC number but after the implementation of the GST Act, the PAN is compulsorily be linked to the IEC Certificate. As a result, the exporters that received a numeric IEC under the previous system will have to apply for modifications.

There are 2 options available with the applicant. The first, is to apply for cancelation of the old IEC number and then apply for a new one either through the online or offline process. Secondly, the following process be undertaken –

  • Open the DGFT website in the compatible browser and then click on the ‘Connect IEC’ tab in order to link the IEC number with PAN.
  • Under the above tab, click on ‘Apply for Modification’ button from the drop-down menu. After this, mention the necessary details of the alteration as required on the portal and fill in any existing information, as required by Form ANF.
  • Once the application has been successfully submitted, the person must contact the regional authority for approval of the application.
  • In most of the scenarios, the applicant is communicated on e-mail regarding the confirmation of linking of PAN, but in case no intimation is received within 10-15 days, the applicant is required to contact the regional office in which the application was made.

The IEC code registration must be obtained by all business entities that deal with import and export. It was generally noted that many corporate experts recommend the use of documents. The Import Export Code has tremendous advantages for a company or owner with its global platform reach, working properly and continuously growing rates of business. Those who deal with this business or want to work with the industry should be advised to issue the Import Export Code in order to obtain many advantages.

Acquired IEC Code with the help of India Financial to expand your business internationally. We are legal experts in IEC code registration solutions. How do I get an online import number in India?  If you need help with the import export code, please complete our inquiry form and call us. Or call 9555 555 480

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