Exporters and importers will now be able to apply online for their new Importer Exporter Codes (IEC) instead of physically submitting papers and making payments at various offices.
IEC is a unique 10-digit code given to exporters and importers by the DGFT without which they are not allowed to carry out international trade unless given special exemption.
The Directorate General of Foreign Trade (DGFT) has started the process of online filing and processing of applications and issuing of codes in a digital format, an official release said.
The required documents for getting the IEC can be uploaded by the applicants online and the required fee can be paid through net banking.
Processing of such applications by regional authority of DGFT would also be done online and the digitally signed e-IEC would be issued/e-mailed to the applicants within two working days, the release added. In case the application is incomplete or otherwise ineligible, the same shall be rejected and an auto generated rejection letter/e-mail (with reasons for rejection) would be sent to the applicant within two working days.
The DGFT is also working on enabling payment of fee through debit/credit cards, which would further facilitate this process. Once implemented the Online system would be made mandatory.
Till that happens, the existing offline/manual system has also been allowed side by side, in order to facilitate those applicants who do not have net banking facility, the release added.
Efforts are also on for message exchange/integration of the DGFT’s system with Income Tax department and Ministry of Corporate Affairs for verification of PAN and other details. Once implemented, this would further reduce the processing time of e-IEC applications to possibly one day, the release said.
Source:-thehindubusinessline.com
No comments:
Post a Comment