The Import Export Code is a mandatory requirement for individuals looking to engage in import or export businesses in the country. In today’s highly competitive business environment, expanding beyond domestic market boundaries is a common goal. Consequently, there are essential procedures to be followed before venturing into the global market, including obtaining various licences and registrations. The IEC licence or IEC registration, also known as the Importer-Exporter Code, is a necessary condition for commencing import or export activities from India.
Staying informed about the procedures for obtaining and updating the IEC licence is essential for businesses. In this blog, we shall understand the procedure to change address in IEC.
Understanding the Significance of IEC in Business Operations
Before going into procedure to change address in IEC, let us understand the significance of the licence. The Importer Exporter Code is a 10-digit identification code issued by the Director General of Foreign Trade, with a lifetime validity. This code holds a vital role in various aspects of business operations, including:
- Import and Export Facilitation
One of the primary purposes of obtaining an IEC licence is to facilitate import and export activities. Without this licence, businesses engaging in the global trade of goods and services face limitations, making the IEC a prerequisite for commencing such operations.
- Shipment Clearance Requirement
In the context of shipment clearance, presenting the IEC is crucial. The IEC licence becomes mandatory in the final step of exporting goods, ensuring a smooth and efficient clearance process.
- Custom Clearance Obligation
The authority to conduct custom clearance rests solely with the Customs department. Importers must furnish their IEC during the verification check procedure for imported goods, making it an essential requirement for successful custom clearance.
- Role in Import and Export Payments
IEC plays a vital role in financial transactions related to import and export. Importers are obligated to provide their IEC when making payments, and exporters must present their IEC licence when receiving payments. This dual requirement ensures compliance throughout the financial aspects of international trade.
Key Points for the Procedure to Change Address in IEC
The Import Export Code is a crucial component for businesses engaging in international trade, opening doors to various lucrative opportunities. However, situations may arise where a business needs to undergo the procedure to change address in IEC. Mentioned below are the key points regarding the same:
1. Understanding IEC Modification:
Any amendment or modification made to the business entity’s particulars in its unique Import Export Code is referred to as IEC modification. This process is essential for keeping the information accurate and up-to-date.
2. Importance of IEC in International Trade:
The IEC plays a pivotal role in international trade, allowing businesses to benefit from government initiatives and export promotion schemes. Keeping the IEC details current is crucial for businesses to continue accessing these opportunities.
3. Initiating Address Change in IEC:
If a business involved in Import-Export decides to undergo the procedure to change address in IEC, it must initiate the process by filing an IEC modification application. This step is crucial to ensure that the business can continue global trading from its new address.
4. Immediate Action Required:
The procedure to change address in IEC should be done promptly to avoid disruptions in global trading activities. Without a timely address update, the business may not be competent to carry out international trade from its previous location.
5. Modification in IEC Master Details:
To undergo the procedure to change address in IEC, the modification needs to be made in the Import Export Code master details. This involves updating the relevant information to reflect the new address accurately.
Documents Required for Changing Address in IEC Registration
To initiate the procedure to change the address in IEC, certain documents must be submitted. Mentioned is a list of the essential documents required:
1. Original IEC Certificate:
The original Import Export Code certificate issued by the Director General of Foreign Trade is a primary document that needs to be submitted.
2. Documents to Prove the Change of Address:
Supporting documents that substantiate the change of address must be provided. This may include utility bills, lease agreements, or any other legal documents confirming the new business address.
3. Affidavit Describing the Modification:
An affidavit detailing the modification, specifically explaining the change of address, is a necessary document. This legal statement serves as a formal declaration regarding the accuracy and legitimacy of the address modification.
Ensuring the submission of these documents is essential to facilitate a smooth and successful procedure to change address in IEC.
Procedure to Change Address in IEC
Changing the address in your Import Export Code involves a clear process on the DGFT portal. Mentioned here is the procedure to change the address in IEC:
1. Login to DGFT Portal:
- Visit the DGFT portal and log in.
- Provide your mobile number, email address, pin code, state, and city.
- Choose ‘Importer/Exporter’ from the drop-down menu on the new user portal.
- Enter the business PAN number and receive OTP and File number on the registered mobile number.
- Enter the OTP, birth date, firm name, and File Number.
- Click on IEC modification and enter the OTP when prompted.
2. Modify IEC Master-Detail:
- Select the IEC Master option to access the IEC Master screen.
- Modify the business entity address by updating the IEC Master details.
3. Complete the IEC Modification Form:
- Ensure the thorough completion of the modification form.
- Scroll down the IEC Master screen to facilitate the completion of the IEC modification form.
4. Process the Application by Selecting Update Option:
- Save the changes by clicking on the EDIT or UPDATE button.
- This step is crucial for processing the IEC modification form and updating all the filled details.
5. Completion of IEC Modification Process:
- After clicking EDIT/UPDATE, the system will update the new particulars.
- A SUCCESS message will be generated by the system, confirming the completion of the procedure to Change the address in IEC.
By following these steps, businesses can successfully direct the DGFT portal to modify their IEC address, ensuring accurate and up-to-date information for international trade activities.
Final Thoughts
The procedure to change address in IEC involves a systematic approach on the DGFT portal. Begin by logging in, providing essential details, and selecting the IEC modification option. Focus on updating the IEC Master details, ensuring accurate information. Complete the modification form thoroughly, and process the application by selecting the update option. Essential documents, including the original IEC certificate, evidence of the address change, and an affidavit, are required for a successful address modification. Adhering to this process ensures businesses maintain exact and updated information for smooth international trade operations.
