The DGFT vide Notification No. 58/2015-2020, dated February 12, 2021 amended certain provisions of Chapter 1 and Chapter 2 of the Foreign Trade Policy, (2015-2020) (“FTP”), related to Import Export Code (“IEC”), in a following manner:
Amended following paragraphs in Chapter 1 and 2 of FTP:
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Existing Text |
Amended Text |
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1.11 Issue of e-IEC (Electronic-Importer Exporter Code) |
1.11 e-IEC (Electronic-Importer Exporter Code) |
| (a) IEC is a mandatory for export/import from/to India as detailed in paragraph 2.05 of this Policy. DGFT issues Importer Exporter Code in electronic form (e- IEC). For issuance of e-IEC an application can be made on DGFT (http//:dgft.gov.in). Applicant can upload the documents and pay the requisite fee through Net banking. Applicant shall, however, submit the application duly signed digitally. |
IEC is mandatory for export/ import from/to India as detailed in paragraph 2.05 of this Policy. 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 (https//www. dgft.gov.in). |
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2.05 Importer-Exporter Code (IEC) |
2.05 Importer-Exporter Code (IEC)/(e-IEC) |
| (c) Application process for IEC is completely online and IEC can be generated by the applicant as per the procedure detailed in the Handbook of Procedure |
(c) Application process for IEC and updation in IEC is completely online and IEC can be generated by the applicant as per the procedure detailed in the Handbook of Procedure |
Inserted following sub-paragraphs under para 2.05 of Chapter 2 of FTP:
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FTP Paragraph no. |
Text Added (New) |
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2.05(d) |
An IEC holder has to ensure that details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details same also needs to be confirmed online. |
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2.05(e) |
An IEC shall be de-activated, if it is not updated within the prescribed time. An IEC so de-activated may be activated, on its successful updation. This would however be without prejudice to any other action taken for violation of any other provisions of the FTP. |
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2.05(f) |
An IEC may be also be 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. |
Further, deleted the sub paragraphs 1.11(b), 1.11(c) and 1.11(d) of FTP.
The Notification can be accessed at: https://content.dgft.gov.in/Website/dgftprod/74893b60-2434-4b7c-b90d-ee9fe0eb7320/Notification%2058%20Date%2012-02-2021%20English.pdf