Changes in IEC with the introduction of GST-regd.
Trade Notice No.09/2018 Dated:- 12-6-2017 Trade Notice
DGFT
No.01/93/180/04/AM-18/PC-2(B)
Government of India
Ministry of Commerce & Industry
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi
Dated 12.06.2017
Trade Notice No. 09
To
1. All IEC holders/applicants
2. All EPCs / 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 Trade or th
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older. As GSTIN will be used 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 for all importers / exporters below a threshold limit of turnover, all exporters / importers may not register with GSTIN [barring compulsory registration in certain cases as provided in section 24 of the Central Goods and Services Tax Act, 2017 (12 of 2017) or in cases where either credit is claimed of IGST], therefore, GSTIN c
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P 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 being carried out by DGFT so that their PAN becomes their IEC. DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard. IEC holders are required to quote their PAN (in place of existing IEC) in all their future documentation, w.e.f. the notified date. The legacy data which is based on IEC would be converted into PAN based in due course of time.
(S.P. Roy)
Joint Director General of Foreign Trade
Telefax: 23062240
E-mail: shyama.roy@nic.in
Circular, Trade
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