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Import Export Code Renewal : Update IEC to avoid Deavtivation

Import Export Code is a permanent number allotted by the DGFT to the exporters and importers in international trade. However, the IEC must be renewed every year beore 30th June, to keep it active. The non-renewal will lead to the deactivation of IEC.

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    Documents required for IEC Code Renewal

    • Incorporation Documents
    • Address Proof of the Company/Firm
    • Cancelled Cheque
    • Aadhar of Director/Partner/Owner
    • Digital Signature

    Import Export Code Renewal: Overview

    The Import Export Code (IEC) is a crucial requirement for businesses engaged in international trade in India. Issued by the Directorate General of Foreign Trade (DGFT), this code is essential for importing and exporting goods. While the IEC itself does not require renewal, it must be updated annually to remain active.

    Importance of IEC

    • Mandatory for Trade: An IEC is necessary for any entity looking to import or export goods. Without it, businesses cannot clear customs or avail benefits under government schemes.
    • Lifetime Validity: Once issued, the IEC remains valid for the lifetime of the business, provided it is updated as required.
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    Annual Update Requirement For IEC Code

    Every Import Export Code, IEC holder must update their code electronically between April and June each year. This process ensures that the information associated with the IEC remains current and compliant with regulations. Failure to update can lead to deactivation of the IEC.

    Consequences of Non Filing of IEC Renewal

    If your business has an Import Export Code, ensure its timely renewal every year. The updation of IEC has been made mandatory and should be completed within its due date. The failure to update the IEC shall result in the deactivation of the IEC. A deactivated IEC can not be used in international trade and shall create an unnecessary hassle at customs as an active IEC is required for clearance of imported goods or to export. We strongly advise you to take steps for the timely renewal of the IEC without any delay and escape the deactivation of the IEC. We are available to assist you at a very nominal fee to renew the IEC.

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    Update Your IEC NowAre you ready to keep your business thriving in the global marketplace? Don’t let your Import Export Code lapse!

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    Frequently Asked Questions (FAQ) about Import Export Code (IEC)

    1. What is an Import Export Code (IEC)?

    The Import Export Code (IEC) is a unique 10-digit number issued by the Directorate General of Foreign Trade (DGFT), which is essential for any business engaged in importing or exporting goods from India. It serves as a mandatory registration for international trade activities.

    2. Is IEC mandatory for all businesses?

    Yes, obtaining an IEC is mandatory for all businesses involved in import and export activities. However, certain categories, such as government departments and individuals importing/exporting for personal use, may be exempt from this requirement.

    3. What is the validity of the IEC?

    The IEC has lifetime validity and does not require renewal. However, it is necessary to update the IEC annually to ensure it remains active and compliant with regulations.

    4. What documents are required for IEC registration?

    The following documents are typically required:

    1. PAN card of the business entity
    2. Aadhaar card or other identification of the applicant
    3. Proof of address (like a utility bill or lease agreement)
    4. Cancelled cheque from a current bank account
    5. Passport-sized photograph.

    5. How long does it take to receive the IEC after application?

    Once the application is submitted with all necessary documents, the IEC is usually issued within 1 days.

    6. Do I need to file returns after obtaining an IEC?

    No, there is no requirement to file returns once you have obtained your IEC. It remains valid as long as your business continues to operate and you keep your information updated annually.

    7. What happens if I don’t update my IEC?

    Failing to update your IEC annually may lead to its deactivation, preventing you from conducting import or export transactions until it is reactivated.

    8. Can individuals apply for an IEC?

    Yes, individuals acting as proprietors can obtain an IEC registration using their name or their business name.