{"id":28986,"date":"2021-04-15T12:28:28","date_gmt":"2021-04-15T06:58:28","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=28986"},"modified":"2021-04-15T12:28:30","modified_gmt":"2021-04-15T06:58:30","slug":"form-for-iec-modification","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/","title":{"rendered":"What is the Form for IEC Modification?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Import Export Code (IEC) is required by every business enterprises who is starting up with the import or export business. Directorate General of Foreign Trade, under the Ministry of Commerce and Government of India is the authority to issue IEC Code which is a unique 10 digit number issued to the Indian Companies. The IEC code is necessary for tracking, managing and supervising the shipments.\u00a0The IEC code is obtained by filling a form through an online platform and so for obtaining IEC number the applicants need not have to submit the document and form manually. Let us know in details about the form for IEC Modification and its whole process.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/#What_is_Meant_by_IEC_Modification\" >What is Meant\nby&nbsp;IEC Modification?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/#Form_for_IEC_Modification\" >Form for IEC Modification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/#_How_to_Get_IEC_Modification_Done\" >&nbsp;How to\nGet IEC Modification Done?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/#What_are_the_Documents_Required_for_the_Modification\" >What are the\nDocuments Required for the Modification?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/#What_are_the_Various_Features_of_IEC_Modification\" >What are the\nVarious Features of IEC Modification?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/form-for-iec-modification\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Meant_by_IEC_Modification\"><\/span>What is Meant\nby&nbsp;IEC Modification?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Any alteration, amendment or change made in the business details which is carrying the Certificate of the <a href=\"https:\/\/corpbiz.io\/iec-registration\"><strong>Import Export Code<\/strong><\/a> needs to immediately modify\u00a0the changes\u00a0by filing the online application in the form for IEC modification before the Directorate General of Foreign Trade (DGFT).<\/p>\n\n\n\n<p><em><strong>\u00a0The reasons behind updating the form for IEC modification:-<\/strong><\/em><\/p>\n\n\n\n<ul><li>It is necessary to update the IEC number as it is an important document for international trading.<\/li><li>The shipping company will ask for checking and verifying with the documents from the concerned importer or exporter whenever they engage in any international transactions. Thus, the documents needs to be updated as any inconsistency in the details like the name, registered address, other contact details, PAN, information of partners, etc., can lead to serious repercussions.\u00a0<\/li><li>Likewise, all the online shopping websites will also require these details for internally complying with the government of the nation.\u00a0<\/li><li>Even the Banks will also require the IEC number as these banks works as an intermediary role between the seller and the buyer who are located in various countries. They may reject the transaction if there is any mismatch in the details.\u00a0<\/li><li>The IEC number is also required by the port and <em><strong>Customs<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Customs\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> authorities for documentation and clearance purposes. If the IEC number is not properly updated with the authorities then in such case the shipment can take longer time or can get stuck in reaching.<\/li><li>The Food Safety and Standards Authority of India (FSSAI) have also made it obligatory to attain the IEC number for all the food business operators dealing with the import or export business of the food products. Thus, the license shall be rendered invalid due to any inconsistency in the data updated on the DGFT.\u00a0<\/li><\/ul>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-export-medicine-globally-from-india\/\">How to Export Medicine Globally from India?<\/a><\/mark><\/p>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Form_for_IEC_Modification\"><\/span>Form for IEC Modification<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In accordance with the new DGFT details, the form for\nIEC modification is given below:<\/p>\n\n\n\n<p><strong>Form\nANF 2A<\/strong> is the required form\nfor IEC modification that shall update the existing IEC. It consists of four\nparts i.e. Part A to Part D.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_How_to_Get_IEC_Modification_Done\"><\/span>&nbsp;How to\nGet IEC Modification Done?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The process to change such details on the IEC portal \u2013<\/em><\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/The-process-to-change-such-details-on-the-IEC-portal.png\" alt=\"Get IEC Modification Done\" class=\"wp-image-28992\" width=\"389\" height=\"520\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/The-process-to-change-such-details-on-the-IEC-portal.png 744w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/04\/The-process-to-change-such-details-on-the-IEC-portal-224x300.png 224w\" sizes=\"(max-width: 389px) 100vw, 389px\" \/><\/figure><\/div>\n\n\n\n<ul><li>Log on to the DGFT website and choose the\n\u2018Online IEC Application\u2019 tab. Then provide\nwith the required&nbsp;business information and details that needs update on\nthe web portal.<\/li><li>Next, click on the \u2018Modify IEC\u2019 and upload the\nproof of the documents supporting the change. For minor changes, proof is not\nrequired. The IEC application system accepts PDF format with the files only up\nto 5MB.<\/li><li>The\nlast step is to click on the \u2018Fee Payment\u2019 and then submit the modification application.\nNo fee is payable where for an application form for IEC modification,\ncertificate is granted within 90 days. Nonetheless, past this time period a\nnominal charge will have to be paid for each modification.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/li><li>After\nsubmission of the form for IEC modification, the acknowledgment for the IEC\nmodification will be provided.<\/li><li>After\nmatching with the certificate details it may be granted within 24 hours.&nbsp;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Documents_Required_for_the_Modification\"><\/span>What are the\nDocuments Required for the Modification?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To update the amendments in the form for IEC\nmodification certificate, the following documents are mandatorily required by\nthe applicant to submit. The list of the documents required is as follows:-<\/p>\n\n\n\n<ul><li>PAN card of the company or individual<\/li><li>Passport size photo<\/li><li>Current\/savings account of the bank or cancellation cheque<\/li><li>Aadhaar card of all the partners and directors<\/li><li>ANF \u2013 2A application form<\/li><li>Class 2 or class 3 digital signatures.<\/li><li>IEC certificate<\/li><li>Documents regarding the proof on the changes<\/li><li>Description of the modification.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Various_Features_of_IEC_Modification\"><\/span>What are the\nVarious Features of IEC Modification?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The given below are some important\nfeatures of the form for IEC modification.&nbsp;The features have been explained\nin brief for better understanding.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Validity of IEC<\/strong><\/h3>\n\n\n\n<p>The validity of IEC is for a life-time\nperiod, which signifies that the business entrepreneurs will not be required to\nrenew. The IEC code shall continue to function even after the form for IEC modification\nis updated in the key business details.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Incentives<\/strong><\/h3>\n\n\n\n<p>With the IEC code the business entrepreneurs\ncan now avail government-driven incentives and schemes to maximize the profit.\nA number of schemes permit the exporters to gain 5% of the reimbursement on the\ninvoice for the particular shipment value. Such kinds of relaxation would\npromote more and more business owners to boost up their export volume.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Hassle-Free\nImport-Export<\/strong><\/h3>\n\n\n\n<p>The main purpose of the modification process\nis to update all the data\u2019s and get it synced with the DGFT and the customs.\nFor the clearance of shipment from the port, this updated information would be\neasily accessible for the exporters.&nbsp; The updated information, shall keep\nit easy for the custom and other authorities to scan the credentials and shipping\ndocuments ensuring the hassle-free shipping.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Now, the form for IEC\nmodification is available online. You can fill all the information and particulars\nin the Form ANF 2A in an easy\nway and update the IEC certificate. Online process saves both money and time\nand also promotes transparency. <\/p>\n\n\n\n<p>Thus, the business owner has to comply with the proper Government procedure to update the form for IEC modification. You can contact with\u00a0<a href=\"https:\/\/corpbiz.io\/\"><strong>CorpBiz<\/strong><\/a>\u00a0to avail professional-grade help on IEC Modification Online.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-get-iec-code-in-india\/\">How to obtain IEC Code in India<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Import Export Code (IEC) is required by every business enterprises who is starting up with the import or export business. Directorate General of Foreign Trade, under the Ministry of Commerce and Government of India is the authority to issue IEC Code which is a unique 10 digit number issued to the Indian Companies. The IEC [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":28995,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1665],"acf":{"service_id":"16"},"authorName":"Kandarp Vanita","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/02\/image_2021_02_01T09_09_44_024Z.png","authorDescription":"Kandarp Vanita has done masters in Corporate and Commercial Law from WB National University of Juridical Sciences. She has 3 yrs of experience in drafting legal documents &amp; dissertations. Being a curious reader, she is also passionately into providing legal backups and comprehensive understandings in every aspect of Law to the firms.","postViews":3379,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/28986"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=28986"}],"version-history":[{"count":8,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/28986\/revisions"}],"predecessor-version":[{"id":28999,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/28986\/revisions\/28999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/28995"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=28986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=28986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=28986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}