DGFT extends deadline for updation of IEC on Annual Basis for FY 2021 [Read Notification]

IEC - DGFT - Taxscan

The Director General of Foreign Trade (DGFT) extended the  last date for updation of Importer -Exporter Code (IEC) on annual basis for Financial Year 2021 upto 31 July 2021.

The DGFT issued the extension notification in continuance of the notification dated 12 February, 2021, so as to inform that the last date to update or modify the IEC is extended upto 31 July 2021.

The Importer -Exporter Code (IEC) is a key business identification number which is mandatory for Exports or Imports. No person shall make any import or export except under an IEC Number granted by the DGFT. In case of import or export of services or technology, the IEC shall be required only when the service or technology provider is taking benefits under the Foreign Trade Policy or is dealing with specified services or technologies

The nature of the firm obtaining an IEC may be any of the follows- “Proprietorship, Partnership, LLP, Limited Company, Trust, HUF and Society.” Consequent upon introduction of GST, IEC number is the same as the PAN of the firm. The IEC would be separately issued by DGFT.

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