How to Modify Your Existing IEC Code: Understanding Process -

An Import Export Code (IEC) is a 10-digit unique code issued by the Directorate General of Foreign Trade (DGFT) that serves as a license for importing and exporting goods and services. It is a crucial requirement for businesses involved in international trade. However, sometimes, businesses may need to modify their existing IEC code due to changes in ownership, business name, or address. In this blog, we will discuss how to modify your existing IEC code.

Understanding the Modification Process

Before attempting to modify your IEC code, it is essential to understand the modification process. The process involves submitting an application to the DGFT, which will be processed and approved if all requirements are met.

Steps to modify your IE Code

Modifying your Import Export Code (IEC) code can be a necessary step in the course of doing business. Whether you’ve had a change in ownership, business name, or address, it is important to update your IEC code to reflect these changes. Here are the steps to modify your IEC code:

Download the IEC Modification Form

The first step to modifying your IEC code is to download the IEC modification form from the Directorate General of Foreign Trade (DGFT) website. The form will require you to fill in details such as your existing IEC code and the proposed modification.

Prepare Supporting Documents

Once you have filled out the IEC modification form, you will need to gather supporting documents that prove the changes you are proposing. The documents you need will depend on the type of modification you are making..

Submit the Application and Supporting Documents

Once you have completed the IEC modification form and gathered your supporting documents, you will need to submit your application to the DGFT. Make sure to attach all required supporting documents and pay the fee for IEC modification. Here are the ways you can submit your application and documents:

You can online submit your application and documents online through the DGFT website.
You can mail your application and documents to the DGFT’s regional office.

Wait for Processing and Approval

After submitting your application, you will need to wait for the DGFT to process and approve your IEC modification request. The processing time can vary based on the completeness of your application and the workload of the DGFT. Once your IEC modification request has been approved, you will receive a modified IEC code that reflects the changes you proposed.

Types of Modifications

There are different types of modifications that can be made to an IEC code. Some common modifications include changes in ownership, business name, or address.

Change in ownership

When there is a change in the ownership structure of a business, such as a merger or acquisition, the IEC code must be modified to reflect the new ownership.

Change in business name

If a business undergoes a name change, the IEC code must be modified to reflect the new name.

Change in address

When a business relocates to a new address, the IEC code must be modified to reflect the new address.

Supporting Documents Required

To modify your IEC code, you will need to submit supporting documents along with your application. The required documents may vary based on the type of modification being made. Here are some of the common supporting documents required for IEC modification:

Change in ownership

Proof of transfer of ownership, such as a share transfer certificate or an agreement.

Change in business name

A copy of the certificate of incorporation or a certificate of change of name issued by the Registrar of Companies.

Change in address

A copy of the updated address proof, such as a utility bill or a rental agreement.

Processing Time for IEC Modification

The processing time for IEC modification varies depending on the completeness of the application and the workload of the DGFT. Typically, it takes around 2-3 weeks for the modification to be processed and approved.To ensure a faster processing time, make sure that your application is complete and all supporting documents are in order. You can also follow up with the DGFT to check on the status of your application.

Conclusion

Modifying your existing IE Code is a straightforward process, but it requires careful attention to detail and adherence to the DGFT’s guidelines. By understanding the modification process, preparing the required supporting documents, paying the fees, and following up with the DGFT, you can ensure a smooth and hassle-free modification of your IEC code. It is crucial to keep your IE Code up-to-date to avoid any issues with your international trade operations.

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