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    What is IEC Updation ?

    Posted By : KAMAL / Published on : 16-Aug-2022 09:15 AM / View : 366 / Comment : 2

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    Please share how to do and when its need to do ?
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    • As per DGFT, it is mandatory to update the IEC annually between April-June period of each year to prevent the IEC from being deactivated.
       
      https://blogs.compliancecalendar.in/de-activation-of-iecs-not-updated-at-dgft-12174
      16-08-2022 / 09:20:40 AM
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    • IEC (Import Export Code) Updation refers to the process of making changes or updating the information in the existing IEC registration. After obtaining an IEC, if there is any change in the information provided earlier, such as change in name, address, email, mobile number, bank details, etc., then the IEC holder needs to update the same in the IEC database maintained by the DGFT (Directorate General of Foreign Trade). This can be done through an online application on the DGFT website. It is important to keep the IEC updated and accurate to avoid any compliance issues while conducting import-export activities.

      The process of IEC updation involves the following steps:

      1. Visit the DGFT website and log in using your IEC credentials.

      2. Click on the "IEC" option in the menu and select "Modify IEC".

      3. Enter the required details to update your IEC profile such as company name, address, email id, phone number, etc.

      4. Upload the necessary documents such as PAN card, Aadhaar card, and bank certificate.

      5. Once the details and documents are submitted, the application is reviewed by the concerned authorities.

      6. If the application is approved, the updated IEC certificate will be sent to your registered email address.

      It is important to keep the IEC updated and accurate to avoid any complications while conducting import/export activities.

      The due date for IEC updation is within 90 days from the end of the financial year. For example, if the financial year ends on March 31, the due date for IEC updation will be June 30.

      However, it is important to note that this is a general timeline and may vary depending on the specific requirements and regulations of the Directorate General of Foreign Trade (DGFT). It is always advisable to check with the DGFT or consult a professional for accurate information on due dates.

      As for the fees, the government has not prescribed any specific fees for IEC updation. The fees may vary depending on the nature and extent of the updation required. It is recommended to check with the DGFT or a professional for the applicable fees.

      31-03-2023 / 11:16:52 AM
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