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

May 30, 2019

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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.

 


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Komal Gupta
Policy Analyst

Policy Professional| Former Tech and Business Journalist|

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