Business & Economy

DGFT operationalises online filing of IEC applications, issue of e-IECs in digital format

NetIndian News Network

New Delhi, February 3, 2015

The Directorate General of Foreign Trade (DGFT) has started operationalising online filing of Importer Exporter Code (IEC) applications and online processing and issue of e-IECs in digital format. 
An official press release said new entrepreneurs, exporters and importers could apply online for issue of new IEC from the comfort of their homes or IT kiosks, upload documents and pay the stipulated fees through net banking, without being required to visit the office of the regional authority.
The processing of such applications by Regional Authority (RA) of DGFT would be done online and the digitally signed e-IEC would be issued/e-mailed to the applicants within two working days. There will be no more IECs in physical form, it said.
In case the application is incomplete or otherwise ineligible, it will be rejected and an auto generated rejection letter/email (with reasons for rejection) would be sent to the applicant within two working days. There would not be any `deficiencies letters` now, with no more discretion at the level of RAs and consequent elimination of possible delays and corruption, the release said.
The release said efforts are underway to enable payment of fee through debit and credit cards, which would further improve the process. Once that is implemented, the online system would be made mandatory. However, till such time as payment through debit/credit cards is enabled, 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. 
Efforts are also underway for message exchange/integration of the system with Income Tax department and the Ministry of Corporate Affairs for verification of PAN and DIN/CIN details respectively. Once implemented, this would further reduce the processing time of e-IEC applications at RA level to possibly just one day, the release added.
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