Importer Exporter Code (IEC) need to be updated electronically every year: Non updating would result in de-activation

As per updated para 2.05 of Chapter-2 of Foreign Trade Policy (FTP), 2015-2020, An Importer Exporter Code (IEC) holder has to ensure that details in its IEC is updated electronically every year, during April-June period. In cases where there are no changes in IEC details same also needs to be confirmed online.

An IEC shall be de-activated, if it is not updated within the prescribed time. An IEC so de-activated may be activated, on its successful updation. This would however be without prejudice to any other action taken for violation of any other provisions of the FTP.

 In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy 2015-2020, the Director General of Foreign Trade inserted a new provision under S.No. 6 of Para 1 Appendix 2K (Scale of Application Fee and procedure for Deposit/Refund of Application Fee/Penalty. It lays down that there will be a NIL scale of fee for annual Updation of IEC during the period April to June as per Para 2.05 of HBP.

All the persons who have obtained IEC code must ensure it’s compliance on or before 30th June so as to avoid it’s deactivation.