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TMI BlogAmendments in Chapter 5 of the Handbook of Procedures 2015-20, related to Export Promotion Capital Goods Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business'X X X X Extracts X X X X X X X X Extracts X X X X ..... from time to time, the Director General of Foreign Trade hereby makes the following amendments in Chapter 5 of the Handbook of Procedures (2015-20) with immediate effect. These amendments are applicable for EPCG authorizations issued under FTP 2015-20. S. No. Para No. Existing provision Revised provision 1 5.14 (c) 5.14 Block-wise Fulfilment of EO (c) Where EO of the first block is not fulfilled in terms of the above proportions, except in cases where the EO prescribed for first block is extended by the Regional Authority subject to payment of composition fee of 2% on duty saved amount proportionate to unfulfilled portion of EO pertaining to the block, the Authorization holder shall, within 3 months from the expiry of the block, pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by 30th April of every year, report on fulfillment of export obligation by secured electronic filing using digital signatures/ or hard copy thereof. 5.15 Annual reporting of EO fulfillment Authorisation holders shall submit to the RA concerned by 30th June of every year, a report on fulfillment of export obligation through online. Such a report shall contain details such as Shipping bill/GST invoice number, date of export/supply, description of product exported/supplied and FOB/FOR value of export/supply for both specific as well as average export obligation. Any delay in filing such an annual report shall be regularised on payment of ₹ 5000/- late fees for each financial year per authorisation. 3 5.16 (a) 5.16 Automatic Reductio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cally stand enhanced proportionately. 4 5.17(d) 5.17 Extension in Export Obligation Period. (d) Request for extension in EO Period shall be made to RA within 90 days from the date of expiry of original EO Period. However, RA may consider the request for extension received up to 180 days with additional composition fee of ₹ 5,000. 5.17 Extension in Export Obligation Period. (d) Request for extension in EO Period shall be made to RA concerned within 6 months from the date of expiry of original EO Period. However, RA may consider the request for extension received after 6 months, but within 8 years from date of issue of authorization, with a late fee of ₹ 10,000/-. Application made beyond 8 years, for extension of EO period f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... authorisation holder and forward a copy to Customs Authorities with whom BG/LUT has been executed. A statement giving details of the documents submitted by the authorisation holder towards evidence of EO fulfillment shall also be enclosed with the certificate. 5.22 Export Obligation Discharge Certificate (EODC) (a) Authorisation holder shall apply for EODC in ANF 5B with documents prescribed therein as a proof of EO fulfillment. (b) On being satisfied, RA concerned shall issue EODC to the EPCG authorisation holder and a copy of which will be forwarded to ICEGATE through online, for further action by Jurisdictional Customs Authorities with whom BG/LUT has been executed. Where EODC is granted to the EPCG authorization holder based on onlin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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