Changes in IEC with the introduction of GST-regd.

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....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 Trade or the officer authorized by the Director General in thi....

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....ifier 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 for all importers / exporters below a threshold limit of turnover, all exporters....

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.... 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 notified by DGFT. 5. Further, for the existing IEC holders, necessary changes in the system are b....