Audit Companion

The new amendment made in Foreign Trade policy (2015-2020) through Notification No.34/2015-2020 has reduced the compliance procedure in getting Importer – Exporter Code (IEC). Earlier, a list of Documents are to be submitted to get IEC now it was made to two (2) which are clearly mentioned in the Below Notification.

A new Insertion is also made which says that only online applications can be filed with DGFT to get IEC. Which mandates requirement of Digital Signature of Class II or III to file the same.

The Effect of this Notification is from 01^st April, 2016.

For IEC Click Here (http://dgft.gov.in/)

To be Published in the Gazette of India Extraordinary Part-II, Section -3, Sub-Section (ii)

Government of India

Ministry of Commerce & Industry

Department of Commerce

Directorate General of Foreign Trade

Udyog Bhawan, New Delhi -110 011

Notification No. 34 /2015-2020

New Delhi, Dated: 29 January, 2016

Subject: Amendment in para 2.05 (c) of Foreign Trade Policy (2015-20)

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020,as amended from time to time, the Central Government hereby amends the existing para 2.05 (c) of Foreign Trade Policy(2015-20) and introduces a new provision, part (d) under para 2.05.The existing para reads as under:

2.05 Importer -Exporter Code (IEC)

(c) Briefly, following are the requisite details /documents (scanned copies) to be submitted/ uploaded along with the application for IEC:

(i) Details of the entity seeking the IEC:

(1) PAN of the business entity in whose name Import/Export would be done (Applicant individual in case of Proprietorship firms).

(2) Address Proof of the applicant entity.

(3) LLPIN /CIN/ Registration Certification Number (whichever is applicable).

(4) Bank account details of the entity. Cancelled cheque bearing entity’s pre - printed name or  Bank certificate in prescribed format ANF-2A (I).

(ii) Details of the Proprietor/ Partners/ Directors/ Secretary or Chief Executive of the Society/ Managing   Trustee of the entity:

(1) PAN (for all categories)

(2) DIN/DPIN (in case of Company /LLP firm)

(iii) Details of the signatory applicant:

(1) Identity proof

(2) PAN

(3) Digital photograph

2.After amendment para 2.05 (c) would read as under:

2.05 Importer-Exporter Code (IEC)

(c) Only the following are required to be uploaded along with the application for IEC with immediate effect:

(1) Digital photograph of the signatory applicant;

(2)Copy of the PAN card of the business entity in whose name Import/Export would be done (Applicant individual in case of Proprietorship firms);

(3) Cancelled cheque bearing entity’s pre-printed name or Bank certificate in  prescribed format ANF -2A(I)

3. The new insertion, part (d) under Para 2.05 would read as under:

(d) Only online application for IEC /modification in IEC can be made by applicants through digital signature (Class-II or Class-III) with effect from 1.4.2016.

4. Effect of this Notification: From the date of this notification only two documents are required to be uploaded /submitted along with the digital photograph while applying for IEC. Further, applications for IEC/ modification in IEC can be made only in online mode by applicants through digital signatures with effect from 1.4.2016.

(Anup Wadhawan)

Director General of Foreign Trade

E-mail: dgft[at]nic[dot]in

[Issued from F.No.01/89/180/20/AM-13/PC-2 (B)]