A RELAXATION FOR IMPORTER-EXPORTER/IEC CODE HOLDER

In continuation to the DGFT notification No. 58/2015-2020, dated 12.02.2021, it is to inform that last date for modification/ updation of IEC has been extended up to 31.07.2021.

A Compliance has been introduced on 12th February 2021 by Ministry of Commerce & Industry and DGFT with notification number 58/2015-2020. As per this notification, Every IEC holder should update/modify Import Export Code every year during April to June i.e. by 30th June. Earlier, No updation/modification is required in IEC code after applying. Therefore, Earlier Exporter can enjoy the benefits of IEC lifetime with out any modification/updation. After insertion of Notification No. 58/201502020, a extra compliance introduced for IEC holders

But due to Covid scenario, all the due dates has been already changed and we are looking for extension in due date of IEC modification from a long time. A lot of representation/request finally the date of IEC updation has been extended by 1 month i.e. by 31st July.

WAIVER OF FEE: No updation fee for IEC shall be charged if it will be updated by 31st July 2021 for F/y 2021-22.

CONSEQUANCES:
1) IEC will become inactive if it will not be updated by 31st July 2021.
2) Prescribed Fee will be applicable after 31st July 2021.

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