Amendments in Para 4.42 of the Handbook of Procedures 2015-2020 - DGFT - 59/2015-2020

MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) PUBLIC NOTICE NO. 59/2015-2020 New Delhi, the 28th February, 2023 Subject: Amendments in Para 4.42 of the Handbook of Procedures 2015-2020. F. No. 01/94/180/012/AM23/PC-4 . In exercise of powers conferred under Paragraph 1.03 and 2.04 of the Foreign Trade Policy 2015-2020, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendments in the provisions of Para 4.42 of the Handbook of Procedures 2015-2020 : (i) Under Para 4.42 of HBP 2015-2020 , a new sub-para (j) is added, as mentioned below: 4.42 Export Obligation (EO) Period and its Extension: (j) For implementation of all PRC decisions involving levy of Composition Fee while allowing extension in EOP and/or regularisation of exports already made, the applicable Composition Fee shall be as prescribed hereunder: CIF VALUE OF ADVANCE AUTHORIZATION (AA) LICENSES ISSUED COMPOSITION FEE TO BE LEVIED (IN ₹) Up to ₹2 Crores 25,000 More than ₹2 Crores to ₹10 Crores 50,000 Above ₹10 Crores 1,00,000 No refund of earlier paid Composition Fee shall be admissible. Effect of this Public Notice: Para 4.42 of the Handbook of Procedures 2015-2020 has been amended to integrate a uniform and transparent system for implementation of all PRC decisions including previous decisions involving process of levying Composition Fee in case of extension of Export Obligation Period (EOP) and/or regularisation of exports already made under Advance Authorization Scheme, for ease of doing business and reduction of transaction cost. SANTOSH KUMAR SARANGI, Director General of Foreign Trade Ex-officio Addl. Secy.