Iec code no.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2011 I have been isued an IEC Code No. some 15 years back and i used it for two years only. At present I want to use the same. what is the procedure. I am informed that IEC is a one time procedure. Whether I have to make a fresh application. please provide the formalities in full

Thanks in advance

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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24 September 2011 As you have not surrendered the IEC Code it is valid till it is surrendered by you but as your IEC code is very old it requires the data to be updated and the same are to be done in 90 days as given below

An IEC can be obtained by any PAN Holder desirous of conducting Exports or Imports.

What is the tenure of an IEC?

An IEC once issued is permanent in nature till the same is surrendered by the IEC holder or cancelled by the Licencing Authority upon any default made be the IEC holder.

3) How often is the IEC required to be updated?

a. An IEC once issued needs to be updated within 90 days in the case of the following:

If there is any change in the
Name of the IEC holder;
Address of Registered / Branch office / Factory address;
Constitution viz. Change in Directors, conversion from Proprietorship concern to Firm, Firm to Company, Pvt Ltd to Public Ltd, change in Bank details, etc.
PAN Details of the IEC holder.
Any change is required by the Government for moving towards an Integrated One Number Regime;
b. Upon the change being intimated beyond a period of 90 days, the changes shall be registered by the RLA upon payment of a penalty;