Changes in IEC with the introduction of GST

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..... 2017 Sub: Changes in IEC with the introduction of GST-reg. Attention is invited towards DGFT Trade Notice No. 09 dated 12.06.2017 on the above mentioned subject- 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 Trade or the officer authori .....

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..... 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 GSTN) at the time of import and export of goods. The PAN level aggregation would automatically happen in the system. 3. Since obtaining GSTIN is not compulsory for all importers / exporters below a threshold limit of t .....

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..... 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 H BP 2015-20, the IEC will be either UIN issued by GSTN and authorized by DGFT or any common number to be notified by DGFT. 5. Further, for the existing I EC holders, necessary changes in the .....

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