GImport Export Code Renewal
@ ₹ 1,499/-
This has been recently updated by the DGFT that every IEC holder will require to ensure that the details of his/her Import Export code need to be updated electronically every year from April to June. Even when there are no changes during a year, the same needs to be confirmed online every year.
IEC Annual Renewal
The possibilities for importing and exporting goods and services have grown in an increasingly digitized world. It is possible to profit from selling your essential items abroad, whether you are a partnership firm or a corporation. It may also be profitable to source pieces of your product from nations where they are less expensive. As a result, the Import Export Code is a crucial document for any international trade of products. The Director-General of Foreign Trade (DGFT), Ministry of Commerce, issues the Import Export Code, which is a ten-digit number. The IEC application is granted for a lifetime after it is submitted.
An Importer-Exporter Code (IEC) is a critical business identifying number that must be used while exporting from or importing into India. Unless specifically exempted, no person may export or import without first obtaining an IEC.
The IEC renewal is an online process and can be completed with the use of DSC or Aadhar based OTP for authentication. The purpose of this annual Renewal of the IEC is to have correct and updated particulars of the business and the users of the DGFT portal. The non-updation of IEC shall lead to the deactivation of IEC.
Process For Online Annual Renewal of IEC
Go to the DGFT portal and click on update IEC.
Login to the Import-Export Code dashboard on the DGFT platform.
For updating your existing IEC, Link your IEC through Aadhar verification or Digital signature on the DGFT dashboard.
Select update/modify IEC option.
Once the above step is completed a form related to basic details and other information will be generated.
Fill in all the information and submit the application.
After a successful update, the IEC will be reactivated and the revised status will be submitted to the Customs system.
List of Documents for Renewal of IEC
14 Digit IEC (Importer Exporter Code) License Number.
PAN card information for all directors, partners, and proprietors.
Residential address information for all directors, partners, and proprietors.
Entity PAN Card information.
Note: All of the preceding information must match the information on the registered IEC License.
Consequences for not applying for IEC Code Renewal
The IEC license will be deactivated if it is not updated within the specified time frame.
On successful updation, an IEC that has been de-activated can be enabled again.
This would be done, however, without prejudice to any other action taken for a breach of any other FTP regulation.