DGFT Amends the amesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders
The DGFT vide Public Notice No. 07/2023 April 18, 2023 has issued amendments in the Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders.
In exercise of powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP) 2023, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendment in the para II(ii) of Public Notice No. 2/2023 dated April 01, 2023 notifying the Amnesty Scheme
II) ii. All pending cases of the default in meeting Export Obligation (EO) of authorizations mentioned in para (I) above can be regularised by the authorisation holder on payment of all customs duties that were exempted in proportion to unfulfilled Export Obligation and interest payable is capped at maximum of 100% of such duties exempted on which interest is payable. However, no interest is payable on the portion of Additional Customs Duty and Special Additional Customs Duty.
Effect of this Public Notice: Public Notice No. 2/2023 dated April 01, 2023 is amended to clarify the duties on which interest is payable.