Topics In Demand
Notification
New

No notification found.

Blog
Member Consultation: Mandating Importer Exporter Code(IEC) for services exporters/importers

May 30, 2019

773

0


Listen to this article



Dear All,

The Balance of Payments data published by RBI is the only data source for international services trade statistics. However, information by partner country, categories and sub-categories of services and mode of delivery of services is not available from RBI data, which poses a barrier in understanding the relative strengths and potential of various service sectors.

Thus, Department of Commerce is evaluating if mandating Importer Exporter Code (IEC) for services exporters/importers after the introduction of GST will resolve the issue.

Prior to GST, the Department was pursuing the issue with DGFT for compiling statistics on trade in services. However, in the post GST regime i.e. since July 2017, the issue need to be seen afresh as the services exporters/importers are required to have a registration number called GSTIN. Once the GST data is made available, it may help in building business directory of services exporters and importers.

In view of above, we request you to submit your views on whether the Importer Exporter Code (IEC) should be made mandatory for services exporters as well to enable the Department to capture data on trade in services in the post GST regime. Please provide relevant comments/ justification to support your views.

You are requested to kindly mail us your inputs /responses latest by 5th June 2019(Wednesday) for us to finalize and make timely submission to the Department of Commerce.  Kindly send your inputs to komal@nasscom.in and asaggarwal@nasscom.in.

 


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


images
Komal Gupta
Policy Analyst

Policy Professional| Former Tech and Business Journalist|

© Copyright nasscom. All Rights Reserved.