DGFT notifies to complete registration before 31st December 2023 to avail Amnesty Scheme for Default in Export Obligation by Advance and EPCG Authorisation Holders

The Directorate General of Foreign Trade (DGFT) notified to complete registration before 31st December 2023 to avail amnesty scheme for default in export obligation by advance and Export Promotion Capital Goods (EPCG) authorisation holders.

EPCG Scheme is to facilitate import of capital goods for producing quality goods and services and enhance India's manufacturing competitiveness. EPCG Scheme allows import of capital goods for pre-production, production and post-production at zero customs duty. Capital goods imported under EPCG for physical exports are also exempt from IGST and Compensation Cess up to 31.05.2020.

As per No:20/2023 New Delhi, dated 30 June, 2023, In the 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 (DGFT notified that any authorisation holder choosing to avail the benefit must complete the process of registration as mentioned in para (iii) above on or before 31.12.2023 and payment of Customs duty plus interest with the Jurisdictional Customs Authorities concerned shall be completed by 31.03.2024.

Effect of the Public Notice:

As per the notification, the last date to apply under the Amnesty Scheme has been extended till 31.12.2023 and the last date for payment of Customs Duty plus interest has been extended till 31.03.2024.

To Read the full text of the Order CLICK HERE

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