TaxTMI 
TaxTMI 
Clarification instructions for filling information in IEC returns
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.... of Foreign Trade hereby makes the following amendment in the Handbook of Procedures (Vol.1): 1. Attention is invited to paragraph 2.9.5 prescribing mandatory returns to be submitted by importer/exporter online by accessing the website at www.nic.in/eximpol. Accordingly, a format has been placed on the website under the index "IEC (Trade Return)" to enable IEC holder to furnish the return in a ....
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....ct of any services rendered by him abroad. If the exports are in currency other than US$, the same may be converted into Indian rupees and thereafter may be converted into US$ as per exchange rate of Ministry of Finance between US$ and Indian rupees on 31st March, 2003. (1US$ = Rs.47.55). Accordingly, the rupee value may be converted into US$ at the exchange rate of Rs.47.55/- per US$. Rank ....
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....in different continents, ranking has to be done by the exporter in the similar way as in the column for the ranking in order of export. CIF value of imports (2002-03) in equivalent US$:- In this column, the total CIF value as per Bill of entry filed between 1.4.2002 to 31.3.2003 needs to be reflected. Here also, the Indian rupees may be converted into US$ as per the exchange rate of Ministry of....
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....e IEC holder by accessing the website at www.nic.in/eximpol. Failure to submit the details by the stipulated period shall result in blocking of such IEC for import/export purposes from 1st November. In cases where the IEC holder has not made any import/ export in the preceding licensing year, such IEC shall be made inoperative from 1st of November. All those IEC where the holder fails to furnis....