| Date: |
23-05-2016
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| Notification No: |
Trade Notice No. 06/2016
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| Issuing Authority: |
DGFT
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| Type: |
Trade Notice
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| File No: |
No. 01/93/180/05/AM-12/PC-2(B) |
| Subject: |
Modification in IEC Trade Notice No.6
|
Government of India
Ministry of Commerce & Industry
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi
Trade Notice No. 06/2016
Udyog Bhawan
New Delhi, Dated the Dated 23rd May, 2016
To
- All IEC holders/applicants
- All EPCs / All Chambers of Trade and Industries
- FIEO/ASSOCHAM/CH
- All RA’s of DGFT
Vide
Public Notice No. 58 dated 01.02.2016 a new version of ANF-2A of Appendices
at Aayat Niryat Forms (2015-20) was introduced for lssue/Modification in
Importer Exporter Code. Provision for modification in IEC is laid down in Para
2.14(b) of HBP (2015-20) as below:
“An application for modification may be made for change in details like name,
address, constitution, ownership in Proprietorship firms, change in nature of
the firm e.g. from proprietorship to partnership etc. Change in constitution
however, does not include change in Directors of Public Limited Company.”
- It has, however, come to notice that applicants are still facing difficulties
in seeking modification in their IEC, in cases where there is a change in the
PAN. Representations have highlighted that with the change in the constitution
of the firm/change in the nature of the firm such as from Partnership to Limited
Liability Partnership etc., there is a change in the PAN number and the new PAN
number needs to be incorporated in the existing IEC, replacing the PAN already
registered against the current IEC. Since each IEC is tagged to a particular PAN
in the system, modification in PAN was not being entertained by the Regional
Authorities- the prime consideration being how to transfer and seamlessly carry
forward the liabilities of one firm, which merges into another or changes its
nature and name.
- To resolve the issue, matter was taken up with the Ministry of Corporate
Affairs and they are of the view that conversion of a firm or an LLP into a
company or merger of a company into another company or merger of two or more
companies to form a new company or demerger of a company to form a new company
does not extinguish the liability if any, of the Transferor Entity/Company and
the liability of such Transferor Entity/Company would automatically vest in the
Transferee Entity/Company, by operation of Law
- Accordingly, the RAs shall henceforth consider applications seeking
modification in IEC, involving change in PAN, by ensuring that liabilities of
the previous applicant/applicant firm are transferred to the new
applicant/applicant firm whose PAN will be reflecting in the modified IEC. RA’s
must also share the modified IEC, with the changed PAN incorporated in it, with
all concerned authorities.
- Further, it has been noticed that RAs have been rejecting applications
digitally signed by Power of Attorney (instead of a Director) on the ground that
power of attorney is not explicitly mentioned in the application format issued
vide
PN No. 58 dated 01.02.2016. In this regard, it is clarified that appliations digitally signed by power of attorney holders/authorised signatories
are to be entertained.
(S.P. Roy)
Joint Director General of Foreign Trade
Tele fax: 23062240
E-mail: [email protected]
No. 01/93/180/05/AM-12/PC-2(B)
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