Amendment in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to EPCG Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business' - DGFT - 24/2024-25

GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE VANIJYA BHAVAN, NEW DELHI PUBLIC NOTICE No. 24/2024-25 NEW DELHI, DATED THE 20 TH September, 2024 Subject: Amendment in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to EPCG Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business' reg. In exercise of powers conferred under Paragraphs 1.03 and 2.04 of the Foreign Trade Policy, 2023 , as amended from time to time, the Director General of Foreign Trade hereby makes the following amendment in Chapter 5 of the HBP, 2023 with immediate effect : S. No. Para No. Existing provision Revised provision 1 5.14 Annual reporting of EO fulfillment Authorisation holder shall submit to RA concerned by 30th June of every year, a report on fulfilment of export obligation through online. Such report shall contain a statement with details such as Shipping bill/GST invoice number, date of export/supply, description of product exported/supplied/service rendered and FOB/FOR value of export/supply for both specific as well as average export obligation. Any delay in filing such annual report shall be regularised on payment of a late fee of Rs. 5000/- per year for each authorisation. Report for EO fulfillment Authorisation holder shall submit to RA concerned a report on fulfilment of export obligation through online mode after expiry of first block period of four years and continuously till the expiry of valid EO period. Such report shall contain a statement with details of Shipping bill/Invoice number/Bill of Export/FIRC number with date and number, as applicable, duly certified by Chartered Accountant/Cost Accountant/ Company Secretary for evidencing fulfillment of specific as well as average EO (wherever applicable). Effect of this Public Notice : With a view to enhance ease of doing business and reduce the compliance burden, provision of Chapter 5 related to the Export Promotion Capital Goods Scheme of the HBP, 2023 is amended for EPCG authorizations issued under Foreign Trade Policy. (Santosh Kumar Sarangi) Director General of Foreign Trade Ex-officio Additional Secretary, Government of India Email: [email protected] [Issued from File No. 18/31/AM-25/P-5]