With the introduction of Goods and Service Tax regime, the GST Identification Number would be used for purposes of (i) credit flow of IGST on import of goods, and (ii) refund or rebate of IGST related to export of goods. Registration No. under GST, called GSTIN. As GSTIN will be used for the purposes mentioned above, it thereby assumes importance as identifier at the transaction level. In view of this, it has been decided that importer/exporter would need to declare only GSTIN (wherever registered with GSTN) at the time of import and export of goods. The PAN level aggregation of data would automatically happen in the system.
Since the GSTIN is not mandatory for those who has turnover less than the threshold limit and as a measure of ease of doing business and universal identification, the Directorate General of Foreign Trade shall PAN as IEC for all import and exports. With effect from 12 June 2017, all new applicants shall be allotted with PAN as its IEC. For existing IEC holders, necessary changes in the system are being carried out by DGFT so that their PAN becomes their IEC. DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard. IEC holders are required to quote their PAN (in place of existing IEC) in all their future documentation.