DGFT Extends Period to fulfill Export Obligation on Import of Coconut Oil from 90 days to 6 months [Read Notification]

The Directorate General of Foreign Trade ( DGFT ) through Public Notice No. 38/2024-25 on 3r January, 2025 amended  Para 6.06 of IIBP, 2023. The amendment extended the  period to fulfill export obligation on import of Coconut Oil  from 90 days to  6 months.

In exercise of the powers conferred under the Foreign Trade Policy, 2023,  the amendment was made in Para 6.()6 (c) (ii) and Para 6.06 (c) (iii) of HBP, 2023. As on the existing para 6.06 ©, the mported tea shall be utilize ithin a period of 6 months from the date of import. Similarly, export obligation against import of items (covered b Chapter 9 of ITC(HS)) and coconut oil shall be fulfilled within a period of 90 days from the date on which the first import consignment is cleared by Customs authorities.

By the amendment, the  imported tea shall be utilized within a period of 6  months from the date of import. Similarly, expo obligation against the import of items {covered by Chapter 9 of ITC(HS)} and coconut oil shall be fulfilled w ithin a period of 6 months from the date on which the first import consignment is cleared by Customs uthorities.

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Another change was made on to  para 6.06 (c) (iii)  wherein it was stated that “ Further, in case of import of spices fo VA purpose like crushing / grinding sterilization or for manufacture of oils and oleoresins of pepper, cardamom nd chillies (and not for simple leaning, grading, re- packing etc.), EO shall be fulfilled within 120 days from the date of importation of first consignment. In case of import of spices (other than pepper, cardamom and chillies) for manufacture of spice oils and oleoresins, EO shall be fulfilled w ithin 12 months.

Through the amendment , the EO shall be fulfilled within 6 months from the date of importation of first consignment. In case of import o spices (other than pepper, cardamom and chillies) for the anufacture of spice oils and oleoresins, EO shall be fulfilled within 12 months.

This amendment was to bring parity with provisions of Chapter 4 of the FTP/HBP, 2023 the provisions of Para 6.06 (c)(ii) and Para 6.06(c)(iii) of the HBP, 2023 for ease of doing business.

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