Along with getting your IEC registered, it is important to update every data about your business at intervals and modify IEC. If an exporter or importer fails to update these changes, it will lead to mismatch in details when scrutinized at the customs. Updating all changes like PAN, director(s), addition or deletion of a partner, etc, will smoothen the export process.
IEC needs to be renewed every year between April and June. Non-renewal might lead to the de-activation of the import-export certificate. Here is how you can renew IEC
If an IEC holder wants to cancel their IEC, then they can file an online request to surrender their IEC, on the DGFT website. Submit the required documents to complete the process of ‘Surrender IEC’ and complete the application. Your IEC license will be surrendered and all the future export/import transactions shall be revoked.