Amnesty scheme for Exporters extended till Dec 31

NEW DELHI: The last date to apply for availing benefits of the amnesty scheme for one-time settlement of default in export obligation by certain exporters has been extended for six months till December 31, the Commerce Ministry said on Friday. Earlier, June 30 was fixed as the last date for registrationunderthescheme.

The government announced the new Foreign Trade Policy (FTP) on

March 31. It included an amnesty scheme for exporters for one-time settlement of default in export obligation by the holders of advance and EPCG (export promotion for capital goods) authorisations.

DirectorateGeneralofForeignTrade (DGFT),undertheministry,alsosaid that the last date for payment of customs duty plus interest has been extendedtillMarch31,2024.

“The last date to apply under the amnesty scheme has been extended till December 31, 2023,” DGFT said in apublicnotice.Underthescheme,all pending cases of the default in meeting export obligation (EO) of certain authorisations can be regularised by the authorisation holder on payment of all customs duties that were exempted in proportion to unfulfilled EO and interest at the rate of 100 percent of suchdutiesexempted.