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Unupdated importer-exporter codes to be nixed

The Commerce Ministry's for-eign trade arm DGFT will deactivate all importer-exporter codes (IECs) that have not been updated after January 1, 2014, with effect from December 6, 2021, a move which would help in knowing the actual number of
real traders in the country.

The Importer-Exporter Code (IEC) is a key business identification number that is mandatory for exports or imports. No person shall make any import or export except under an IEC number granted by the DGFT. On August 8, this year, the Directorate General of Foreign Trade (DGFT) had directed all IEC holders to ensure that details in their IEC are updat-ed electronically every year during the April-June period. All IECs which have not been updated after January 1, 2014 shall be deactivated with effect from December 6, 2021," according to DGFT's trade notice.

The IEC holders who have not yet updated the relevant information can do that till December 5. IEC that would be deactivated, would have the opportunity for automatic re-activation after December 6. For that, a trader would have to navigate to the DGFT web-site and update their relevant information.
 

23 Nov, 2021
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