Industry & Economy
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Exports & Imports
Date for filing trade returns extended
Our Bureau
New Delhi
,
March 1
THE Director-General of Foreign Trade (DGFT) has extended the date for filing the trade returns by exporters up to March 31.
Import export code (IEC) number holders are directed to file trade returns because most of the operations of the DGFT are already e-commerce enabled.
According to an official release by the Ministry of Commerce and Industry here, this has been done keeping in view the demand from the exporting community and the relevant procedure and guidelines have been put on the DGFT Web site at www.nic.in/eximpol.
The need for filing the trade returns is becoming increasingly important as soon there would be database connectivity with the Customs and the income-tax.
The DGFT has also introduced the acceptance of digitally signed applications and all these measures would help the authorities serve the larger exporting clients in a better way bringing down transaction costs and time tangibly.
For proper implementation of these initiatives, the DGFT requires an efficient database of active exporters and screening out of the inactive IEC holders.
It is clarified that if an IEC holder does not file return by March 31, he might risk deactivating of his IEC number.
Even the procedure for filing trade returns is simple; in case of any problem, email might be sent to vsrana@ub.nic.in, the release said.
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