Import Export Code (IEC) is required by everyone who is looking to start import or export business in the country. In today’s competitive business world, everyone is trying to develop their business beyond the domestic market limits. Hence, there are certain mandatory procedures to be followed before going global to get different license and registration and one such license is the Import Export Code (IEC) license.
IEC license is a pre-requisite condition before starting up with the business of importing or exporting from India. It is also acknowledged as Importer- Exporter Code. Thus, it is important for the business enterprises to stay updated with the various changes in obtaining IEC license and in this article we shall learn about the one such complete procedure to change the address in IEC.
What is the Requirement of IEC in your Business?
IEC is a 10-digit code having a validity of lifetime and is issued by the DGFT (Director General of Foreign Trade). The major purpose behind requirement of IEC for the business is given below:
Import and Export
The main purpose behind getting this license is to import and export goods and services as there is no importer or exporter who can deal with his business of goods and services globally without obtaining this license. Thus, the IEC license is the pre-requisite condition before starting up with such business.
For succeeding with the clearance of shipment it is important to show IEC. Hence, IEC license is mandatory to pass the shipment process which is the final step to export goods.
The sole authority to perform custom clearance is the Custom department custom clearance is the verification check procedure of the imported goods. Hence, furnishing IEC is mandatory for the person importing the goods for making a successful custom clearance.
Payments in Import and Export
The importer is obligated to furnish IEC while making payments and at the same time the exporter is obligated to show his IEC license during receiving payments.
Read our article:Export Flowers to Singapore: Guide for Indian Entrepreneurs
What is the Procedure to Change Address in IEC?
The unique Import Export Code acts as a means to enter in the international trade where the business enterprises will be able to access an extensive surplus of profitable development opportunities in their business. Export promotion has been the major concern of our government.
It is well known that in recent years the trade & commerce authorities is undertaking regular schemes and different initiatives with the objective to promote the exports from India. Hence, every Indian business enterprises that are involved in the trading of Import-Export can directly obtain the benefit of these initiatives and schemes with their unique Import Export Code.
IEC Modification – Any amendment or modification made in the business entity particulars in its exclusive Import Export Code is known as IEC modification. In case of an Import Export trade business if the entity has to undergo the procedure to Change Address in IEC in their business enterprise then the export merchant who has strategized to Change Address in IEC Certificate shall have to instantly modify the same while filing an IEC modification application.
In such a case it is very important to immediately Change Address in IEC or else the business enterprise will not be competent to carry out global trading from its previous address. In order to change the address in IEC, the change has to be made in the Import Export Code master details. The given below is the complete procedure to change the address in IEC:-
1. Login to DGFT Portal
- To change address in IEC, first of all you need to visit the DGFT portal. There you will be required to enter your mobile number, email address, pin code, state and city. In the drop-down menu on the creation of new user portal, you will have to choose ‘Importer/Exporter’.
- You will need to enter the business PAN number on the DGFT portal. Then you will receive the OTP and File number on the registered mobile number which shall be entered in the message.
- Then you will be asked to enter the birth date together with the OTP, Name of the firm and File Number.
- Subsequently the next step will be to click on the IEC modification. There again you will be required to enter the OTP.
- In the next step you will see a prefilled application.
2. Modify IEC Master-Detail
In order to Change Address in IEC of your business, it is obligatory on the applicant to make IEC modification by the process of updating the IEC Master details.
For that, you will have to select on the IEC Master option. The IEC master details will demonstrate the IEC Master screen and there you can modify the business entity address without any doubt.
3. Complete the IEC Modification Form
For the successful completion to Change Address in IEC the user will have to ensure the complete fill up of the modification form for which the user shall scroll down the Master screen of the IEC to facilitate the completion of his IEC modification form.
4. Process the Application by Selecting Update Option
Last of all, saving is important for processing the IEC modification form so as to update all the required and filled details. For that, it is required to click on the EDIT or UPDATE button.
On the completion of the IEC modification process, and after clicking on the EDIT/UPDATE button it will update all the new particulars, i.e. the procedure to Change Address in IEC shall be completed.
Eventually the following SUCCESS message shall be generated by the system: “Task Completed Successfully”.
Documents Required to Change Address in IEC Registration
The documents required to Change Address in IEC are:
- Original IEC certificate
- Documents to prove the change of address
- An affidavit describing the modification
It is mandatorily required for all the IEC holders to update and confirm their IEC Details. They should update their IEC from April to June once every year through online system, even if there are no changes. On failure to comply with the rules, it can result in deactivation of their IEC and leading to impossibility of the import or export activities concerning the business.
Hence, it is expected that the user follows the above given complete procedure to change the address in IEC, then only it will successfully change the business address of the IEC registration certificate.
Read our article:How Many Types of Products can be Exported by One IEC?