GANGTOK : Shortly after increasing trading limits in border trade across Nathula from Rs 25,000 to Rs 1,00,000 on single consignment, the Central government today agreed to issue IEC code number without PAN for exporter/ importer of Sikkim.
Among the few itching problems faced by the Sikkimese traders was to obtain IEC (Import Export Code) number that required PAN (Permanent Account Number) issued by the Central Income Tax authorities. As no PAN was available in Sikkim, no IEC code could be generated by the Director General of Foreign Trade (DGFT).
But now through public notice No 3 dated 30 April 2007, the Central government has agreed to issue IEC code based on VAT/ Sales tax registration issued by the Commercial Taxes Department of state government as a substitute to PAN.
The Sikkim Chamber of Commerce through its several memorandums to the Union and state government had sought to drawn the latter’s attention to the various impediments to trade through Nathula and push for the early resolution of the quandaries for smooth trade.
“We welcome this move of the Union government to accept VAT/ Sales tax registration number issued by Commercial Taxes Dept, government of Sikkim in place of Permanent Account Number to generate the IEC (Import Export Code) number for the importer/ exporter who are resident of Sikkim”, said SK Sarda, President to Sikkim Chamber of Commerce in Gangtok today. Traders in the capital are now of the opinion that the welcome step will help in raising the volume of trade through Nathula port.
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