The Commerce Ministry described the procedure for requesting an amnesty scheme for a one-time settlement of export requirement default by certain exporters. Government officials instructed the regional authorities to respond to any such inquiries within three working days.
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The government unveiled the new foreign trade policy (FTP) on March 31. It contained an amnesty programme for exporters for the one-time payment of an export requirement default by the owners of advance and EPCG (export promotion for capital goods) authorizations.
In view of the same, the Commerce Ministry outlined the process for applying for an amnesty scheme for a one-time settlement of export requirement default by specific exporters. The government has instructed regional authorities to process such requests within three working days.
“Application for AA (advance authorization)/EPCG (export promotion for capital goods) discharge/closure shall be filled online by logging onto the DGFT website and navigating to services,” the DGFT said in a policy circular.
The scheme permits the authorization holder to regularize all outstanding cases of default in fulfilling export obligations (EO) of specific authorizations. This can be done by paying all customs duties that were exempted in proportion to unfulfilled EO and interest at the rate of 100% of such duties exempted.
The DGFT announced new HSN codes for products made of technical textiles in another trade notice. Despite having unique codes for technical textiles, it was reported that imports and exports were not being recorded using the relevant HS codes. Also, the trade appeared to be continuing to be recorded using other accessible codes.
“Accordingly, the matter has been reviewed in consultation with the textiles ministry and it is reiterated that all importers/exporters should file their bill of entry/shipping bill with specific HSN codes available for man-made fibre and technical textiles under…and to avoid using any other codes,” it said. A list of 32 codes has been notified to facilitate the industry.
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