469 Items Identified
in 5% Plus Export Decline in 2023-24 period for Relaxation of Annual Export
Obligation
[DGFT
Policy Circular No. 11/2024-25 dated 21January, 2025]
Subject:
EPCG Scheme - Relief in Average EO in terms of the para 5.17(a) of Hand Book of
Procedures (HBP) of FTP, 2023.
The
para 5.17 of the HBP of the FTP, 2023 envisages that to provide relief to
exporters of those sectors where total exports in that sector/product group has
declined by more than 5% as compared to the previous year, the Average Export
Obligation (EO) for the year may be reduced proportionate to reduction in
exports of that particular sector/product group during the relevant year as
against the preceding year. This implies that the sector/product group that
witnessed such decline in 2023-24 as compared to 2022-23 would be entitled for
such relief.
2.
A list of product groups showing the percentage decline in exports during
2023-24 as compared to 2022-23 is Annexed.
3.
All Regional Authorities are requested to re-fix the Annual Average EO for
EPCG Authorizations for the year 2023-24 accordingly. The reduction, if
any, in the EO should be appropriately endorsed in the licence
file of the Office of Regional Authority and also in the amendment sheet to be
issued to the EPCG Authorisation holder.
4.
Regional Offices while considering requests of discharge of EO will ensure that
in case of shortfall in EO fulfilment, Policy Circulars issued earlier in terms
of Para 5.11.2 of HBP 2009-14, Para 5.19 of HBP of FTP 2015-20 and Para 5.17 of
FTP, 2023 are also considered before issuance of demand notice, EODC etc. This
stipulation should be part of Check-Sheet for the purpose of EODC.
This
issues with the approval of Director General of Foreign Trade.
Encl:
As mentioned above (Page 1-19).
(Issued
from F. No. 18/61/AM-25/P-5)