TMI BlogChanges in IEC with the introduction of GST-regd.X X X X Extracts X X X X X X X X Extracts X X X X ..... All Chambers of Trade and Industries 3. FIEO/ASSOCHAM/CII 4. All RA's of DGFT 5. All field formations of Customs Sub: Changes in IEC with the introduction of GST-regd. The Foreign Trade (Development Regulation) Act, 1992 provides that no person shall make any import or export except under an Importer Exporter Code (IEC) number, granted by the Director General of Foreign ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed for the purposes mentioned above, it thereby assumes importance as identifier at the transaction level. In view of this, it has been decided that importer/exporter would need to declare only GSTIN (wherever registered with GSTN) at the time of import and export of goods. The PAN level aggregation of data would automatically happen in the system. 3. Since obtaining GSTIN is not compulsory f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... will be alpha numeric (instead of 10 digit numeric at present) and will be same as PAN of an entity. For new applicants, w.e.f. the notified date, application for IEC will be made to DGFT and applicant's PAN will be authorized as IEC. For residuary categories under Para 2.07 of HBP 2015-20, the IEC will be either UIN issued by GSTN and authorized by DGFT or any common number to be notifie ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
