DGFT e-IEC, If you are a DGFT holder, you may be wondering what the DGFT e-IEC is. This article will guide you through the procedure of linking to this system, its benefits, and the link between the two. We’ll also cover the application process and the penalty as per Para 9.1 of HBP v1.
To register for DGFT e-IEC, an exporter must visit the official website of DGFT and click on the “Register” tab. Enter an one-time password or temporary password to get started. Create a password for your user name. After registering, you will have access to the IEC Profile Management website. After registering, you can print the e-IEC or view it online.
To apply for an IEC, you must first have a PAN number and a bank account in the firm’s name. A valid address must also be provided. The DGFT may ask to verify the address upon issuance of the IEC. It is also important to remember that you must provide the right address of the firm when applying for an IEC. If you are planning to use the IEC for personal purposes, you must ensure that you are using it in accordance with the law.
The DGFT has recently made an important announcement regarding IEC holders. The apex government institution has made a series of changes that are crucial for holders of this document. The most notable change is the inclusion of information sharing in the e-IEC portal. The amendments are designed to increase transparency in the information-sharing process, and will alert importers and exporters about the status of their IEC.
Linking DGFT e-IEC
In order to link your e-IEC with DGFT, exporters must provide their IEC profile management information on the DGFT website. To access this page, select Services from the drop-down menu and click on the link to Manage My IEC. Next, select the option “Register For Linking Your E-IEC”. A new page will open up. Once registered, exporters need to validate their OTP with the digital signature or Aadhaar-based OTP. Then, they can proceed with linking their e-IEC with their DGFT account.
If you do not have a DGFT account, you can register using your mobile or email. You will need a DSC token to use the e-IEC. This service is free and can be used to link your e-IEC with various services, including Foreign Trade Policy schemes. The process to register your e-IEC is easy. Follow the instructions below. You will be able to link your e-IEC with DSC within minutes.
The DGFT website offers a facility of applying for an IEC. The process involves uploading documents and generating an IEC certificate. You should be prepared to submit a PAN card copy, a voter id, an Aadhar card copy, a copy of your passport, a copy of a cancelled cheque, a copy of your electricity bill, and a self-addressed stamped envelope for sending the IEC certificate.
Once you have obtained an IEC code, you are now free to conduct business activities in India. You can even export products to foreign countries. The benefits of IEC registration are numerous. You can enjoy tax benefits on your exports and imports. You also do not have to file returns and can expand your business without any hindrance. And, this process is fast. The approval usually takes ten to fifteen days and is almost entirely online.
Benefits of DGFT e-IEC
There are several benefits of DGFT e-IEC. The IEC allotted to an applicant is valid for life. However, it is required to be updated every year to remain active. The update can be completed for free between the months of April and June. If the applicant does not update the IEC within these dates, it will be deactivated and will not account for the violation.
IEC is a government issued document that enables foreign investors to do business in India. Imports and exports require an IEC. Foreign trade policy benefits require an IEC. The IEC number can be obtained from the DGFT by exporting or importing goods and services. The requirements for obtaining an IEC are stated in the Handbook of Procedures, Para 2.07. After identifying the type of business and paying the required fee, the next step is to apply for the DGFT e-IEC. Once the DGFT e-IEC application is approved, the applicant will receive an e-IEC with digital signature within two working days.
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