In this article, we explain the steps you need to take to update your import export code (IEC) registration in India
What Is the Import Export Code (IEC)?
Import Export Code (IEC) is an unique identification number assigned to importers and exporters in India. It is mandatory to maintain IEC registration with the Central Board of Excise and Customs (CBEC) in order to trade in goods and services between India and other countries.
To update your IEC registration, follow these steps:
- Login to the official website.
- Click on ‘Registrations’ tab.
- Select ‘Import/Export’ from the main menu and then click on ‘Registration Details’ from the sub-menu.
- On the ‘Registration Details’ page, under ‘Import Export Code (IEC)’, you will find the ‘Update IEC Registration Form’ link. Click on this link to open the form.
- Complete all fields on the form and click on the ‘Submit’ button to submit it.
- Your IEC registration will be updated automatically after submitting the form.
Why Do I Need to Update My Import Export Code (IEC) Registration in India?
Import Export Code (IEC) is a unique code assigned to a company which allows the Customs authorities of different countries to track the imports and exports of that company. The code is mandatory for all companies who engage in international trade, whether for goods or services. In order to keep your IEC registration current, it is important to file an annual update application with the Indian Customs. Failure to do so could lead to penalties and delays in customs clearance.
The benefits of keeping your IEC registration current include:
- Reduced time spent on customs documentation
- Improved accuracy of customs declarations
- Increased safety when engaging in international trade
Fill Out Your New Information
By updating your IEC registration, you will help ensure that your business is compliant with current regulations and meet the expectations of customers and partners.
To update your IEC registration, you will need to submit the following information:
- Your company name
- Your company address
- Your company phone number
- Your company email address
- Your company website URL (if applicable)
- The type of business you are in (import/export)
What to Do if I Have an Expired IEC Registration Certificate
If you have an expired IEC registration certificate, there are a few things you can do to update your registration. You can either visit an IEC authorized agent or mail in the renewal application.
If you visit an IEC authorized agent, they will be able to update your registration for you. You will need to bring your expired certificate and the renewal application.
If you mail in the renewal application, you will need to include your expired certificate and the renewal application form. You will also need to provide your full name, date of birth, business name, address, and telephone number.
Where Can I Find More Information on Import Export Code (IEC) Registrations?
Import Export Code (IEC) registrations are a necessary part of doing business in India. There are a few resources available to help you with your IEC registration. The official website of the Department of Industrial Policy and Promotion offers a step-by-step guide for registering your IEC. Additionally, the website has a searchable database of registered IECs.
If you need more help than the online resources can offer, you can contact the Indian Chamber of Commerce and Industry. They can provide guidance on how to register your IEC and provide other support services to its members.
Alternatively, you can contact Vakilsearch today for a hassle free experience of updating your IEC.
How Many IEC Codes Are Allowed in India?
In India, there are a maximum of 10 IEC codes that can be registered with the Export Promotion Council of India. These codes represent specific types of exports that India is interested in promoting. To register an IEC code: https://www.dgft.gov.in/CP/ you must first contact the Export Promotion Council of India and submit a registration application. After your code has been registered, you can use it to apply for export promotion programs and support from the Indian government.
Conclusion
If you are an exporter or importer in India, then it is important that you update your IEC registration. Failure to do so can lead to a number of penalties and restrictions, including the inability to export certain goods and the refusal of customs clearance for imports. If you have not updated your code in at least two years, then it is time to do so. Contact Vakilsearch today for more information.
FAQ:
What is the IEC code and why is it important in India?
The IEC code, or International Electrotechnical Commission code, is a set of standards for electrical and electronic equipment and components. It is important in India because it helps ensure the safety and quality of electrical products and systems, and is required for import and export of such products.
How can I obtain an IEC code for my product in India?
To obtain an IEC code for your product in India, you need to follow the certification process set by the IEC. This typically involves submitting your product for testing and evaluation by a recognized certification body, such as the Bureau of Indian Standards (BIS).
What are the benefits of obtaining an IEC code for my product in India?
Obtaining an IEC code for your product in India can provide several benefits, including increased market access, improved product safety and quality, and enhanced brand reputation. It can also help you comply with international trade agreements and regulations.
What is the cost of obtaining an IEC code for my product in India?
The cost of obtaining an IEC code for your product in India can vary depending on the type of product, the certification body, and the scope of testing required. It is advisable to contact a recognized certification body for a detailed quote.
How long does it take to obtain an IEC code for my product in India?
The time it takes to obtain an IEC code for your product in India can vary depending on the complexity of the product, the certification body, and the availability of testing resources. It is advisable to contact a recognized certification body for an estimated timeline.
Also, Read:
