Date: 2022-06-09Category: Not ApplicableState: Union GovernmentCountry: India
Amendments in Chapter 5 of the Handbook of Procedures 2015-20,
related to Export Promotion Capital Goods Scheme to reduce
‘Compliance Burden’ and enhance ‘Ease of doing Business’
**Summary:**
Public Notice No. 13, dated June 9, 2022, issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India, announces amendments to Chapter 5 of the Handbook of Procedures 2015-20, pertaining to the Export Promotion Capital Goods (EPCG) Scheme.
The key amendment involves an extension of the deadline for filing annual returns under Para 5.15 of the Handbook of Procedures 2015-20 until September 30, 2022, for the year 2022-23. Furthermore, the public notice clarifies that a late fee of Rs. 5000 will be applicable for returns due from the year 2022-23 onwards.
These amendments, made in exercise of powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP) 2015-2020, aim to reduce compliance burdens and enhance ease of doing business for EPCG authorization holders.
For further information, contact the Director General of Foreign Trade at dgft@nic.in. The notice was issued from File No. 18/79/AM-21/P-5.
Key Entities Referenced
Directorate General of Foreign Trade: The issuing authority for the public notice, responsible for foreign trade policy.
Udyog Bhavan: Location of the Directorate General of Foreign Trade office.
New Delhi: City in India where the Public Notice was issued.
Handbook of Procedures 2015-20: A document providing detailed procedures related to the Foreign Trade Policy.
Export Promotion Capital Goods Scheme: A scheme aimed at facilitating imports of capital goods for export production.
Foreign Trade Policy FTP 2015-2020: The prevailing foreign trade policy under which the amendments are issued.
Chapter 5 of the Handbook of Procedures 2015-20: The specific section of the Handbook of Procedures being amended.
Santosh Kumar Sarangi: Director General of Foreign Trade who issued the Public Notice.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE
UDYOG BHAVAN
PUBLIC NOTICE No. _ 13 /2015-2020
NEW DELHI, DATED THE 09 June, 2022
Subject: Amendments in Chapter 5 of the Handbook of Procedures 2015-20, related
to Export Promotion Capital Goods Scheme to reduce ‘Compliance Burden’ and
enhance ‘Ease of doing Business’ - reg.
In exercise of powers conferred under Paragraph 1.03 of the Foreign Trade Policy
(FTP) 2015-2020, as amended from time to time, the Director General of Foreign Trade
hereby makes the following amendments in Chapter 5 of the Handbook of Procedures
(2015-20) with immediate effect. These amendments are applicable for EPCG
authorizations issued under FTP-2015-20.
1. The following sentence is added at the end of existing para 5.15 of Handbook of
procedures.
"Time limit to file returns for the year 2022-23 is extended till 30.9.2022. Late
fees of Rs. 5000/- under this para is applicable for the returns due to be filed from
the year 2022-23 onwards.
Effect of this Public Notice: Extension of last date for filing of annual returns under
Para 5.15 of HBP 2015-20 along with a clarification that imposition of penalty of
Rs.5000/- for late filing of annual returns is applicable from 2022-23.
(Santosh Kumar Sarangi)
Director General of Foreign Trade &
Ex-officio Additional Secretary, Government of India
Email:dgft@nic.in
(Issued from File No. 18/79/AM-21/P-5)