Through this update, we would like to apprise you regarding recent amendments made in Foreign Trade Policy, 2015-20 (‘FTP’) relating to Importer-Exporter Code (‘IEC’).

• All IEC holders should update their IEC details during April-June of every year. This updation needs to be done even if there are no changes in particulars.

• Non-updation of IEC details would lead to de-activation of IEC. However, post successful updation, IEC can be re-activated.

• For scrutiny purpose, system may flag IEC. IEC holders should ensure that such flagged risks are timely addressed otherwise their IEC will be deactivated.

Pertinently, Paras 1.11(b), 1.11 (c) and 1.11 (d) of FTP have been deleted. Resultantly, provisions related to processing of IEC within 2 working days, communication of rejection of application for IEC and making application from eBiz platform shall not be available.

[Refer Notification No. 58/2015-2020-DGFT dated February 12, 2021]

NITYA Comments: 

This amendment will lead to regular removal of inactive IEC from portal. Importers and exporters should timely update IEC and respond to any flags raised by department. 

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