DGFT issues final warning for updating IECs

New Delhi, 22 Nov (KNN) The Directorate General of Foreign Trade (DGFT), part of the Commerce Ministry has announced that all importer-exporter codes (IECs) will be deactivated if they have not been updated after January 1, 2014, with effect from December 6, 2021.

This will allow DGFT to record the actual number of real traders in the country.

For the purpose of exports or imports, the Importer-Exporter Code (IEC) is compulsory and a key business identification number.

No import or export can be carried with an IEC number granted by the DGFT.

Earlier in August, 2021, all IEC holders were directed by DGFT to ensure that details in their IEC are updated 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 can update their necessary information 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 website and update their relevant information. “Upon successful updation, the given IEC shall be activated again and transmitted accordingly to the Customs system with the updated status,” the notice said.

According to an industry expert, DGFT is taking this step of de-activation of IECs because reduction in the base load of the directorate will help it in knowing the actual number of real exporters and importers in the country.