Online IEC applications-Code to be issued in firm name – DGFT Clarification

Online IEC applications-Code to be issued in firm name. Supporting documents for address Proof of the firm and requirement of pre-printed cancelled cheque – Clarification

DGFT, in August 2018 notified the new procedure for online IEC applications and mandated that  online application  for  IEC  would  require only 2 documents to be uploaded  i.e.

(a) Address proof the applicant entity; and

(b) Cancelled Cheque bearing entity ‘s pre-printed name or Bank Certificate.

However, there was a confusion about as to in whose name IEC is going to be issued and also about the address and proof thereof.

In view of the above the DGFT has issued a Trade Notice clarifying the following:

(i) IEC is to be issued in the name of the firm . So application has to be made in the name of a The firm may be a proprietorship / partnership/ LLP firm/ HUF firm / an individual or a company (including Government Undertaking/ Public or Private Limited company/ Section 25 company/One Director Company/ Registered Society/ Trust).

(ii) Since there is a need to keep record as to who  is submitting application on behalf of the firm, the person/individual who is submitting the application on behalf of the firm is the applicant. For example , firm name is “Goyal and sons” , the IEC should be in the name of “Goyal & sons”. If one Shri A B Goyal is submitting the application for IEC, the applicant is A B Goyal and his details such as mobile no/email id will be required as applicant.

It is to be noted  that   the mobile no and  email id  of the applicant will be used for verification  and subsequent  log  in. Both  cannot  be changed simultaneously  at any  point  of time.

(iii)  The address of the firm and documents in support of that address are required .

(a) If the document in support of the address of the firm having firm ‘s name (for example X) is available, the same needs to be uploaded.

(b) In case the document in support of the address of the firm is in the name of some other name (for example Y), an NOC from Y in favour of X is also required in addition to document in support of address in the name of Y. Both the documents will establish the address in favour of the firm (X)

(iv) Either of the following documents is acceptable as proof of address (the document should be in the  name of the firm):

1. Aadhaar Card or (in case of proprietorship )
2. Voters ID or (in case of proprietorship )
3. Passport or (in case of proprietorship )
4. . Electricity/ Telephone (Landline or Mobile) Bill or
5. GST Registration Certificate or
6. Bank Certificate as in ANF 2(A) (I)  or
7. Sale/ lease/ rent deed (relevant pages indicating the seller , buyer and address details)

(v) The proprietorship company  can submit address proof  in favour  of individual  (proprietor) and it need not necessarily be in the name of the firm.

(vi) Clarification on Bank certificate/ pre-printed cancelled cheque:

(a) Either a pre-printed cheque or a bank certificate has to be uploaded.

(b) Pre-printed cheque should have the name of the account holder pre-printed by the bank. A cheque without pre-printed name of the account holder is not acceptable.

(c) Pre-printed cheque should  be in the name of the firm. However , in case of proprietorship firms, pre-printed cheque may be in the name of the individual (proprietor)

(d) Pre-printed cheque can be of a savings account or a current account.