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TMI BlogAmnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders -regX X X X Extracts X X X X X X X X Extracts X X X X ..... ding Public is invited to the Public Notice 02/2023 dated 01.04.2023 issued in F.No18/15/AM-23/P-5 by Directorate General of Foreign Trade, New Delhi, vide the aforesaid Public Notice dated 01.04.2023 conveyed the amendments made in the procedure to close cases of default in Export Obligation under (a) Advance Authorisation Scheme and (b) EPCG Scheme, as reproduced below: I. Coverage: 1. The Authorisations issued under Advance Authorisation Scheme (All variants) and EPCG Scheme (All variants) issued under Foreign Trade Policy, 2009-14 till 31.03.2015 are covered under the Scheme. 2. For Authorizations issued under Advance Authorisation Scheme (all variants) and EPCG Scheme (All variants) issued under Foreign Trade Policy, 2004-2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of default on which Customs duty and interest is payable. vi. The applicant thereafter can pay Customs duty plus interest with the Jurisdictional Customs authorities concerned and submit proof thereof to the regional authority of DGFT concerned. vii. Any, authorization holder choosing to avail this benefit must complete the process of registration as mentioned in para (iii) above on or before 30.06.2023 and payment of Customs duty plus interest with the Jurisdictional Customs Authorities concerned shall be completed by 30.09.2023. viii. Based on the evidence of such payment and other relevant documents as `prescribed under the Handbook of Procedures, concerned RA may examine the request and issue a letter granting Export Obligatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ling required reports by the respective RAs would be indicated separately. (Example 1: When entire EO could not be fulfilled: - If the default in EO is 100% this would mean the Complete duty saved amount has to be refunded. The interest on this duty saved amount has to be calculated from the date of import till the date of payment. In the total CIF value of unutilised exempted material is say Rs. 100/-, all the customs duties (including Additional Customs Duty and Special Additional Customs Duty) exempted is say Rs. 50/- . The Customs duties exempted (except Additional Customs Duty and Special Additional Customs Duty) portion is say Rs.32/- then interest payable is maximum of Rs. 32/- (100% of Rs.32/-). Therefore for regularising this ..... X X X X Extracts X X X X X X X X Extracts X X X X
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