Ministry of Commerce and Industry, Department of Commerce, and Directorate General of Foreign Trade (DGFT) have recently issued a public notice (No: 20/2023) regarding an amnesty scheme for one-time settlement of default in export obligation. This notice amends a previous public notice (No: 02/2023) and extends the deadline for application and payment. In this article, we will provide an analysis of the amendment and its impact on exporters.
The amendment introduced by the Directorate General of Foreign Trade extends the last date to apply under the Amnesty Scheme until 31st December 2023. Additionally, the deadline for payment of Customs Duty plus interest has been extended until 31st March 2024. These changes provide exporters with more time to avail themselves of the benefits of the scheme and fulfill their obligations.
The Amnesty Scheme aims to provide a one-time settlement opportunity for defaulting Advance and EPCG (Export Promotion Capital Goods) authorization holders. By completing the registration process before the specified deadline and making the required payment to the Jurisdictional Customs Authorities, exporters can regularize their export obligations. This amendment offers relief to exporters by granting them an extended timeframe to comply with the scheme’s requirements.
Government of India
Ministry of Commerce and Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhavan, New Delhi
Public Notice No: 20/2023 Dated : 30th June, 2023
Subject: Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders – Amendment reg.
F. No. 18/15/AM-23/P-5.—The following Public Notices have been issued by the Directorate General of Foreign Trade :-
(i) Public Notice No. 02/2023 dated 01.04.2023 –Notification of Amnesty Scheme.
(ii) Public Notice No. 07/2023 dated 18.04.2023 –Amendment of Amnesty Scheme
2. In exercise of powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP) 2023, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendment in the para II(vii) of Public Notice No. 02/2023 dated 01.04.2023 notifying the Amnesty Scheme :-
II) vii. Any authorisation holder choosing to avail this benefit must complete the process of registration as mentioned in para (iii) above on or before 31.12.2023 and payment of Customs duty plus interest with the Jurisdictional Customs Authorities concerned shall be completed by 31.03.2024.
3. The other contents of the above mentioned Public Notices shall remain the same.
Effect of this Public Notice: The last date to apply under the Amnesty Scheme has been extended till 31.12.2023 and last date for payment of Customs Duty plus intrest has been extended till 31.03.2024.
(Rajesh Agra547
Director General of Foreign Trade &
Addl. Secretary to Govt. of India
Email: dgft@nic.in
(Issued from File No. 18/15/AM-23/P-5)
