According to Foreign Trade (Development & Regulation) Act, 1992, no person shall make any import or export except under an Importer Exporter Code (IEC) number granted by Directorate General of Foreign Trade (DGFT).
After implementation of GST, another step taken by Government of India as a measure of ease of doing business; henceforth GSTIN would be used for the purposes of (i) credit flow of IGST on import of goods and (ii) refund or rebate of IGST related to export of goods.
Since GSTIN is not compulsory for all importers/exporters below threshold limit of turnover hence it has been decided to keep the identity of an entity uniform across the Ministries/Departments. Therefore, PAN of an entity will be used for the purpose of IEC, i.e. 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 GSTIN and authorized by DGFT or any common number to be notified by DGFT. (Ref.: Trade Notice No.09/2018 issued by DGFT)
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