To: Members of the Council
Sub: Extension in the Export Obligation period of specified Advance & EPCG Authorisations till 31.12.2021
We are pleased to inform you that O/o DGFT has issued Notification No. 28/2015-20 dated 23rd September, 2021 by extending the Export Obligation period of specified Advance & EPCG Authorisations till 31st December, 2021.
Accordingly, sub-para 4.42(j) and Sub para 5.17 (f) are inserted in Chapter 4 and Chapter 5 respectively in Hand Book of Procedures which is as follows -
However, this extension is subject to 5% additional export obligation in value terms (in free Foreign Exchange) on the balance Export Obligation on the date of expiry of the original/extended export obligation period.
The option to avail Export Obligation extension with payment of composition fees under para [4.42 (d), (e), (f)] & para [5.17(c)] would remain available for these authorizations as per eligibility.
Where AA Holder or EPCG Holder has already obtained Export Obligation extension upon payment of composition fee, the refund of composition fee will not be permitted.
Members may please make a note of the following -
Customs authorities shall allow export accordingly and EO fulfillment details as per above provisions will be checked/verified by the RA at the time of EODC/Closure/Regularisation.
Authorisation Holders need not approach RA or make any application to avail this benefit.