Amendments in Importer Exporter Code related provisions

Amendments in Importer Exporter Code related provisions

by | Feb 16, 2021

Amendment of Importer Exporter Code related provisions
 

The Central Government vide Notification No 58/2015-2020 dated 12-02-2021 has made amendments in the provisions related to Importer Exporter Code (‘IEC’) issued under the Foreign Trade Policy 2015-20. The key aspects of the amendments are summarised hereinbelow:

  • An IEC holder has to ensure that the details in IEC is updated electronically every year during the period April to June
  • Where there is no change/ updation in the IEC details, same also needs to be confirmed online in the prescribed period
  • IEC shall be deactivated if the updation/ confirmation has not done in the prescribed period. However, it shall be activated post updation/ confirmation
  • IEC may also be flagged for scrutiny and IEC holders are required to ensure that the risk flagged by the system is timely addressed, failing which the IEC shall be deactivated

 

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