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Date: 18-Apr-2023 Category: Extra Ordinary State: Union Government Country: India

Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders Amendment reg.

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • This public notice No. 7/2023 issued by the Director General of Foreign Trade (DGFT) amends Public Notice No. 2/2023, which announced an amnesty scheme for one-time settlement of defaults in export obligations by Advance and EPCG authorization holders.
  • The amendment clarifies which customs duties are subject to interest under the amnesty scheme.

Key Changes

  • The amendment pertains to paragraph II(ii) of Public Notice No. 2/2023 dated April 1, 2023.
  • It clarifies that interest is payable on exempted customs duties in proportion to unfulfilled export obligations, with interest capped at a maximum of 100% of such exempted duties on which interest is payable.
  • No interest is payable on the portion of Additional Customs Duty (ACD) and Special Additional Customs Duty (SACD).

Impact Analysis

Impact on Authorization Holders (Advance & EPCG)

  • Encourages settlement of pending cases related to defaults in meeting export obligations.

Suggested Action Items

  • Consider utilizing the amnesty scheme to regularize pending cases and avoid further penalties.

Key Entities Referenced

Directorate General of Foreign Trade (DGFT): The issuing authority for this public notice, responsible for formulating and implementing foreign trade policy. Foreign Trade Policy (FTP) 2023: The overarching policy framework governing India's foreign trade, under which the DGFT derives its powers. Advance Authorization: A scheme that allows duty-free import of inputs required for export production. EPCG (Export Promotion Capital Goods) Scheme: A scheme that allows import of capital goods at zero or concessional duty, subject to an export obligation. Public Notice No. 2/2023: The original notification that announced the amnesty scheme for one-time settlement of default in export obligation by Advance and EPCG authorization holders.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-18042023-245245 xxxGIDHxxx CG-DL-E-18042023-245245 xxxGIDExxx असाधारण EXTRAORDINARY भाग I—खण्ड 1 PART I—Section 1 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 100] नई दिल्ली, मगं लवार, अप्रलै 18, 2023/चत्रै 28, 1945 No. 100] NEW DELHI, TUESDAY, APRIL 18, 2023/CHAITRA 28, 1945 ubZ fnYyh] 18 vizSy] 2023 le;≤ ij ;Fkkla'kksf/kr fons'k O;kikj uhfr ¼,QVhih½ 2023 ds iSjk 1-03 ds rgr çnÙk 'kfä;ks a dk ç;ksx djr s gq,] egkfuns'kd] fon's k O;kikj ,rn~}kjk ,eusLVh Ldhe dks vf/klwfpr djus okyh] lkoZtfud lwpuk l-a 02@2023 fnukad 01-04-2023 ds iSjk II ¼ii½ es a fuEufyf[kr la'kks/ku djr s gSa% II ii. mijksDr iSjk ¼I½ eas mfYyf[kr izkf/kdkj i=ks a ds fu;kZr nkf;Ro ¼bZvks½ dks iwjk dju s esa pwd ds lHkh yfacr ekeyks a dk s izkf/kdkj i= /kkjd }kjk mu lHkh lhek'kqYdks]a ftUgs a viw.kZ fu;kZr nkf;Ro ds vuqikr es a NwV nh xbZ Fkh] ds Hkqxrku ij fofu;fer fd;k tk ldrk gS vkSj rFkkfi vfrfjDr lhek'kqYd vkSj fo'ks’k vfrfjDr lhek'kqYd ds fgLls ij dksbZ C;kt n;s ugha gSaA lkoZtfud lwpuk la- 02@2023 fnukad 01-04-2023 dks “kqYdks]a ftl ij C;kt n;s gS] dk s Li’V dju s gsrq la'kksf/kr fd;k x;k gSA larks’k dqekj lkjaxh] egkfuns'kd fons'k O;kikj ,oa inus vij lfpo 2540 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC.1] MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) PUBLIC NOTICE New Delhi, the 18th April, 2023 No: 7 /2023 Subject: Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders – Amendment reg. F. No. 18/15/AM-23/P-5.—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 01.04.2023 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 01.04.2023 is amended to clarify the duties on which interest is payable. SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex-officio Additional Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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