IEC Modification - Online IEC Modification Form
Import Export Code (IEC) is a 10 digit identification number that is given by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It can also be called the Importer Exporter Code. It is compulsory for businesses to have this code to begin with a business that involves import and export in the country. It is not possible to work in the export or import business without having this code.
When is IEC Required
IEC is required in the situations when –
- An importer is required to clear his/her shipments from the customs then it is required by the customs authorities.
- An exporter has to send his/her shipments then it is needed by the customs port.
- An exporter receives money in foreign currency directly into his/her bank account then it is required by the bank.
- An importer sends money abroad through banks then it’s needed by the bank.
Features of IEC Modification
- The government has introduced many incentive schemes for the benefit of exporters, using which exporters can get a refund of approx 5% of the invoice value.
- After IEC modification, all the data gets updated in the database with government authorities. However, if one submits incorrect details, the import export process might become a bit slow and problems might occur.
- The best thing about Import Export Code is that it has permanent validity and hence any renewal of the IEC Certificate is not required.
Documents Required for Modification of IEC
- PAN Card
- Passport size photos
- ANF – 2A application form
- Aadhar Card
- Class 2 or class 3 digital signature
Procedure to Get IEC Certificate
Open the online website for IEC Certificate.
Choose the option ‘Apply for New Import/Export Code (IEC)/Modify Existing IEC’.
Mention your PAC Card details correctly. Entering incorrect details might lead to problems later.
Verify the details like phone number and email address. These details cannot be changed later and will be used for logging in again.
Complete the CAPTCHA process.
Use the OTP sent to the given mobile number and email address.
The next step is to enter all the business details according to the enterprise, i.e. proprietorship, partnership, etc.
Fill the correct details for both of these sections-
- For a Director, enter the Directors Identification Number (DIN).
- For a company, enter the Company Identification Number (CIN).
Submit all the documents while making sure that all the information entered is correct and up to date.
Make the necessary payment and submit. Within a few minutes, the applicant will receive the IEC Code.
This was an online and easy method for IEC modification. One does not have to think a lot before modifying the IEC code, since it is a hassle free process. Once all the documents with correct information are submitted, the IEC code is received within minutes, making it all the more time saving.
If you face any problems regarding IEC or you have any queries, than just refer to our site @e-registration.co.in and will contact you soon.
Written by - Mitaali Dayal