DGFT Clarifies Duties on which Interest is Payable under Amnesty Scheme

· Amnesty Scheme for One Time Settlement of Default in Export Obligation by Advance and EPCG Authorization Holders

[DGFT Public Notice No: 7/2023 dated 18 April, 2023]

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.

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

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 regularized 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.

(Issued from File No. 18/15/AM-23/P-5)