Conversion of EOU to DTA – What happens to IEC?
DGFT has clarified that:-
1. In case a 100% EOU, having an IEC Number from the concerned Development Commissioner of a Special Economic Zone, de-bonds and converts into a DTA Unit, the IEC issued to the firm shall be cancelled and archived. Against the same PAN Number, concerned RA will issue a fresh IEC to the firm. Subsequent modifications/amendments in the new IEC shall be carried out by the concerned RA.
2. In case, a DTA unit converts into a 100% EOU unit, the IEC issued by the RA shall continue to be valid even after conversion of the unit.
Will somebody tell the government that a concerned Commissioner is a worried officer while the Commissioner concerned is a very responsible person?
DGFT Policy Circular No. 26 (RE-08)/2004-2009 Dated: August 11, 2008