When Import Export Code (IEC) change or Modification required?
When any particulars of registered dealer change then Import Export Code (IEC) change or Updation required.
Advantage of Import Export Code (IEC) change or Modification
1) As per DGFT Notification No. 58/2015-2020 dated 12th February,2021; 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) No hurdle at port due to data mismatched.
3) Touching international boundaries for trade. With IE Code one can expand business and reach customers internationally.
4) IE Code is issued for a lifetime, one-time activity with lifetime benefits.
5) Avail discounts and subsidies granted by DGFT.
6) IE Code doesn't require any filling.
7) Any proprietor business identity can obtain IE Code.
Allotment of IEC
After the application and the attached supporting documents are verified, the Directorate General of Foreign Trade will issue a IEC for the business.
Document Information
Documents Required For Import Export Code Updation
Proprietor
ONE PERSON COMPANY
PRIVATE LIMITED
PUBLIC LIMITED
Partnership Firm
LLP
NGO