How to Surrender IEC (Import Export Code) Online?

Individuals or companies conducting global trade through import and export have to secure the Import Export Code (IEC) because it functions as their unique directory in India. Because of the Directorate General of Foreign Trade (DGFT), IEC stands as an essential requirement for any international trading operation. Businesses can discontinue their requirement for an IEC after various important changes to their operations. The surrender Importer Exporter Code (IEC ) functions through an online platform for such cases.

What is the IEC (Import Export Code)?

The IEC (Import Export Code) functions as an essential 10-digit identification code that comes from the DGFT. The required activities necessitate this ten-digit code which DGFT issues.

• Importing goods into India
• The IEC serves as a 10-digit code for monitoring both exports and imports in India for tax purposes. An IEC serves as a critical requirement for businesses that participate in international trade since it directly associates with their PAN (Permanent Account Number).

What is an IEC Surrender?

Surrender Importer Exporter Code (IEC) represents the authorized process to deactivate or cancel your IEC so your import and export registration becomes invalid. The business should stop trading internationally or ceasing operations as reasons for IEC Surrender.

Documents and Details Required to Surrender an IEC

To surrender the IEC license, the following are required:

• An active IEC status stands as a necessary condition to make a surrender request possible.
• You must verify that you have proper access to the DGFT portal through your active login information.
• The required documents for surrender include a Digital Signature Certificate (DSC) which must be associated with the firm details or be linked to the Aadhaar information of the proprietor or members.
• A valid reason for surrendering the IEC together with supporting documents should be submitted according to the DGFT's requirements.

Step-by-Step Process to Surrender IEC Online

Follow these steps to  surrender IEC license via the DGFT portal online:

1. Login to DGFT Portal

• Visit the DGFT Portal.
• Enter your credentials to log in.

2. Navigate to IEC Management Section

• After logging in, click on the "My IEC" button on the dashboard or go to "Services" -> "IEC Profile Management".

3. Select the Surrender IEC Tab

From the available options, click on the "Surrender IEC" tab.

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4. Enter Surrender Reason and Upload Supporting Documents

• Provide the reason for surrendering your IEC.
• Upload any necessary supporting documents to justify the surrender IEC license.

5. Digital Signature for Submission

• A window will prompt you to use your DSC for the surrender IEC license request.
• Complete the process by entering your DSC details and submitting the request.

6. Confirmation and Request Submission

• Once the submission is successful, you will receive a confirmation acknowledging your surrender request.

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Conclusion

Companies can easily finalize their international trading activities through an efficient online process of surrendering their IEC. Proper deactivation of your IEC becomes possible through the steps provided in this guide which minimizes the difficulty in the process.

Frequently Asked Questions (FAQs)

1. How to surrender IEC online?
The procedure for surrender IEC license includes accessing the DGFT portal and navigating to the IEC management section followed by providing surrender documentation attached with your DSC authentication.

2. How do I withdraw from IEC?
IEC withdrawals need submission through a request process when you want to revoke terminated or suspended statuses. The procedure to surrender IEC requires you to implement the steps mentioned above.

3. Where can I surrender my IEC License?
You can perform an IEC surrender process through the DGFT portal at its "Surrender IEC" section under IEC Profile Management.