Amendment in para 5.15 of Handbook of Procedures 2015 20, related to Export Promotion Capital Goods Scheme

## Report on Amendment to Handbook of Procedures 2015-2020 Regarding Export Promotion Capital Goods Scheme **1. Executive Summary:** This report analyzes a public notice issued by the Directorate General of Foreign Trade (DGFT) on September 29, 2022. The notice amends para 5.15 of the Handbook of Procedures (HBP) 2015-2020, specifically related to the Export Promotion Capital Goods (EPCG) scheme. The core purpose of this amendment is to extend the deadline for filing annual returns for the year 2022-23 under the EPCG scheme. The key finding is that businesses utilizing the EPCG scheme now have additional time to comply with annual return filing requirements. **2. Introduction:** This report aims to provide a detailed overview of a recent amendment to the Handbook of Procedures (HBP) 2015-2020, as announced by the Directorate General of Foreign Trade (DGFT) via a public notice. The analysis is based solely on the information provided in the text of the public notice. **3. Policy Overview:** * **Original Policy:** The amendment pertains to the Handbook of Procedures (HBP) 2015-2020, which provides detailed guidelines for implementing the Foreign Trade Policy (FTP) 2015-2020. Specifically, it affects para 5.15 of the HBP. * **Core Objective(s):** The amendment, as inferred from the text, aims to provide businesses more time to fulfill the annual return filing requirements under the Export Promotion Capital Goods (EPCG) scheme. **4. Background and Rationale:** This amendment likely addresses the need for businesses to have more time to accurately prepare and submit their annual returns under the EPCG scheme. The extension suggests that the original deadline (September 30, 2022) may have been insufficient for some businesses, potentially due to unforeseen circumstances or administrative complexities in preparing the returns. The change ensures smoother compliance with the annual filing procedure by extending the deadline. **5. Key Provisions / Changes:** This public notice introduces the following change to para 5.15 of the Handbook of Procedures 2015-2020: * **Specific Part Changed:** The provision related to the deadline for filing annual returns for the year 2022-23. * **New Rule/Provision:** The original deadline, "Time limit to file returns for the year 2022-23 is extended till 30.09.2022", is replaced with, "Time limit to file returns for the year 2022-23 is extended till 31.12.2022". * **Difference/Effect:** The amendment extends the deadline for filing annual returns under Para 5.15 of the HBP 2015-2020 from September 30, 2022, to December 31, 2022. This provides businesses with an additional three months to comply with the filing requirements. **6. Target Audience and Stakeholders:** The primary target audience and stakeholders affected by this amendment are businesses and individuals utilizing the Export Promotion Capital Goods (EPCG) scheme. Specifically, those who are required to file annual returns under Para 5.15 of the Handbook of Procedures 2015-2020 for the year 2022-23. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Directorate General of Foreign Trade (DGFT) is responsible for implementing this amendment. * **Timelines/Procedures:** The critical timeline change is the extended deadline: December 31, 2022, for filing annual returns. The underlying procedures for filing annual returns, as outlined in the Handbook of Procedures 2015-2020, likely remain unchanged except for this deadline modification. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to facilitate smoother compliance with the EPCG scheme's annual return filing requirements. By providing a more extended timeframe, the DGFT aims to reduce the burden on businesses, potentially leading to more accurate and complete filings. The amendment helps companies by ensuring more flexibility and less pressure regarding their return filings. **9. Conclusion:** The amendment to para 5.15 of the Handbook of Procedures 2015-2020, as detailed in the DGFT public notice, offers a significant extension to the deadline for filing annual returns under the EPCG scheme. This change provides businesses with additional time to comply with the filing requirements and potentially reduces administrative burdens. The amendment underscores the DGFT's responsiveness to the needs of businesses involved in export promotion activities.

Key Entities Referenced