New update 2021

e-IEC (electronic import export code)

Import export code is mandatory for export-import from/to India
DGFT issues importer exporter code in electronic form (e-IEC)
Application for issuance of e-IEC can be made directly on the DGFT web portal
Application process for new IEC or updation is completely online
An IEC holder has to ensure that details in is IEC is updated electronically every year during April to June period. In cases where there are no changes in IEC detail same also needs to be confirmed online.
An IEC shall be de-activated, if it is not updated within the prescribed time. So, de-activated may be activated on its successful updation
An IEC may be also flagged for scrutiny. IEC holder(s) are required to ensure that any risks flagged by the system is timely addressed failing which the IEC shall be deactivated