Apply online for IEC with 10 notified banks only

The public notice no. 83 dated 30th January, 2015 has once again raised the hope of all importers/ exporters. Vide this notice, DGFT had made e-application of Import Export Code (IEC) mandatory from 1st February, 2015.   images (3)

In November, 2014, online application was made manadatory. But due to some technical issues, the online process was deferred vide notice no. 80 dated 6th January, 2015. The users were again following the manual process. Since then importers and exporters were looking forward to the Department to resolve the issue.

Now, when the Department has lately came up with online filing, the DGFT has notified only 10 banks with whom net banking facility need to be accessed for this process. Such banks are:

  • HDFC Bank
  • ICICI Bank
  • Bank of India
  • State Bank of India
  • Central Bank of India
  • Punjab National Bank
  • IDBI
  • Axis Bank
  • Union Bank of India
  • Oriental Bank of Commerce

It is also stated in the notice that the applicants who do not have net banking facility with above stated banks may continue to apply IEC manually. Till further notice, such applicants will have to apply the same procedure as they were following 1st February, 2015.

Procedure for obtaining IEC before 1st February, 2015 was mentioned in our previous article http://taxmantra.com/technical-glitch-at-the-dgft-website-leads-to-delay-in-obtaining-iec.html/

 

It is being feared that again applicants do not have to face the same technical issue while applying for IEC. If this work out properly then many difficulties faced by the applicants will get resolve and they will be more exposed to the international market. This in turn shall speed-up the development for all start-ups.