How to update your Import Export Code (IEC) Registration Details?

Introduction

Obtaining an Import Export Code (IEC) registration is a prerequisite for individuals and businesses involved in import and export activities in India. Issued by the Directorate General of Foreign Trade (DGFT), this 10-digit unique code plays a vital role in facilitating international trade operations. In this comprehensive guide, we will explore the process of updating IEC on the DGFT website and the importance of keeping your IEC registration up to date. We will also discuss the exempted categories under IEC and provide guidance on what to do if your IEC registration certificate expires.

What is an Import Export Code?  

In India, anyone doing business in the import and export of products and services must obtain an Import Export Code registration. The Directorate General of Foreign Trade (DGFT) issues a 10-digit unique code to the individual once the IEC registration procedure is completed. The registration of an Import Export Code aids in the growth of a company. The authority issues an IEC only once, and the business owner keeps it for the duration of the entity’s existence.

Instructions for Updating IEC on DGFT Website

1. Go to the DGFT website: Visit the official DGFT website by entering the URL: https://www.dgft.gov.in/.
2. Click on “Update IEC”: Locate and click on the “Update IEC” option on the website. This will open the login tab.
3. Login or Register: If you are already registered, enter your login details in the provided fields. If not registered, complete the registration process by providing the required details. In case you forget your password, you can use the “forgot password” option. A new password will be sent to your registered email address.
4. Link your IEC: Once logged in, if your IEC is not linked yet, proceed to link it. An OTP (One-Time Password) will be sent to your registered email address for verification.
5. Access the “Update/Modified IEC” option: After successfully linking your IEC, click on the “Update/Modified IEC” option.
6. Update IEC details: A tab will pop up displaying your IEC code details. If you need to change any information, modify the respective fields accordingly. If no changes are required, save every head of information.
7. Review and submit: After updating the details, check the application summary to ensure accuracy. Finally, submit the application. Attach the DSC (Digital Signature Certificate) of the registered person to complete the submission process.

What Are Exempted Categories under Import Export Code?  

• Import/export of possessions for individual use.
• Import/ Export by controlling and notifying charitable organizations.
• Import/Export of produce to and from Nepal or Myanmar, everywhere CIF denomination does not exceed Rs. 25000/
• It does not go into Technology and Services if the tools do not tumble on the constrained list.

Reasons for Updating Import Export Code (IEC) Registration in India

Updating your Import Export Code (IEC) registration is crucial for various reasons:

1. The IEC is a unique identifier assigned to companies engaged in international trade. By updating your IEC registration, you ensure compliance with the regulatory requirements set by Indian Customs and maintain a valid and up-to-date code.

2. The IEC allows Customs authorities to track and monitor your company’s imports and exports. By regularly updating your IEC registration, you facilitate accurate tracking of your trade activities, ensuring transparency and compliance with customs regulations.

3. Failing to update your IEC registration can lead to penalties and delays in customs clearance processes. Outdated or incorrect information may result in complications during customs inspections, documentation verification, and cargo handling. Updating your IEC registration helps avoid such issues and ensures smooth trade operations.

4. Keeping your IEC registration updated aligns with legal requirements and obligations related to international trade. It demonstrates your commitment to complying with applicable laws, regulations, and reporting obligations, helping you maintain a reputable and trustworthy business image.

5. Regularly updating your IEC registration allows you to stay informed about any regulatory changes or updates implemented by Indian Customs. This ensures that your company remains in compliance with the latest trade policies and procedures.

What to Do if Your IEC Registration Certificate Expires?

If your IEC registration certificate has expired, you have a few options to update your registration:

1. Visit an IEC Authorized Agent or Experts: You can visit an authorized IEC agent or expert to update your registration details. Make sure to bring your expired certificate and fill out the renewal application form. The authorized agent will assist you throughout the process and ensure that your details in the IEC are updated correctly.

2. Mail in the Renewal Application: Alternatively, you can choose to mail the renewal application yourself. Include your expired certificate and the completed renewal application form. Along with these documents, provide your full name, date of birth, business name, address, and telephone number. Send the application to the appropriate address as specified by the relevant authority.

Conclusion

In conclusion, obtaining and updating your Import Export Code (IEC) registration is essential for individuals and businesses engaged in import and export activities in India. The IEC serves as a unique identifier and is issued by the Directorate General of Foreign Trade (DGFT) to facilitate international trade operations. By following the instructions provided on the DGFT website, you can easily update your IEC registration, ensuring compliance with regulatory requirements and maintaining a valid code.