How To Update IEC Code?
Update IEC Code – If you are the one who is engaged in international trade, then Importer – an exporter code is mandatory. Importer Exporter code is also known as Import Export License. The Directorate General of Foreign Trade (DGFT) issues the IEC code. It is required to sell and buy goods overseas. If you are willing to start your import and export business then strategic planning and further documentation are necessary to have an import-export code is one of them. Without this license, you are not allowed to import any product from overseas without IEC code, unless they were exempted under the special condition. When you apply the IEC code then you are allowed to download this from the DGFT website. What Is An IEC Code? IEC Code standard for the Import Export Code. It is a part of commercial transactions and mandatory to have to import and export from India. It is a 10-digit alphanumeric code issued by DGFT. It is required by the importers and exporters for seamless business in International trade. Along with the import-export permit, you will experience many benefits of obtaining the IEC code. You can claim further benefits from the customs, Export Promotion Council and other authorities such as subsidies. Why Does IEC Need To Be Updated? When you obtain the IEC certification once, you are allowed to start your Import & Export business. But you have to keep in mind that you need to update IEC code details electronically every year between April and June as per Notification No.58/2015-2020. Different Conditions Of Amendments in IEC For Modification If you are thinking about why you need to modify or update IEC code then here are some mandatory reasons made by the DGFT. Here are some reasons you need to explore that lead to modifying your IEC:- Statutory Modification Under normal circumstances, an Importer and exporter have to modify or update IEC code at least once annually as per the guidelines of DGFT (Directorate General of Foreign Trade). Voluntary modification Voluntary modification is necessary at that time when you find any typing error, or misprint in the certificate or the applicant wants to change certain information voluntarily then you have to modify it. Business Address Modification If the company address is changed then the director of the company has to modify the IEC license. Change in the company name Due to any reason you have modified your company name then you have to change it in the IEC certificate also. Partners’ addition or deletion If any existing partner leaves or adds a new partner to a particular business. Then you have to add the same in the IEC certificate and modify it ASAP. How To Modify Or Update IEC Code Online? Go with the step-by-step guidance to update IEC code online in India:- Conclusion With the help of the above-mentioned information, you can simply update IEC certificate. You only have to visit the website once. But If you are facing some issues then you can simply go for the Legal consultant and they will help you to modify the IEC certificate in India. After assistance, you do not need to worry about the process of IEC certificate updation. FAQs




