The DGFT under Public Notice No. 20/2023 dated 30 June 2023, has introduced amendments in the Amnesty scheme for one time settlement of default in export obligation by the Advance and EPCG authorisation holders.
In the 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 has introduced some amendments in para II(vii) of Public Notice No. 02/2023 dated 1 April 2023, notifying the Amnesty Scheme.
- If the authorisation holders want to avail the benefits, they must complete the registration process according to para (iii) above on or before 31 December 2023.
- Payment of Customs duty plus interest with the Jurisdictional Customs Authorities concerned must be completed by 31 March 2024.
The other contents of Public Notice No. 02/2023 dated 1 April 2023 – Notification of Amnesty Scheme, and Public Notice No. 07/2023 dated 18 April 2023– Amendment of Amnesty Scheme, shall remain the same.
Key Takeaways
In effect to this Public Notice, the last date for applying under the Amnesty Scheme has been extended till 31 December 2023 and the last date for making the payment of Customs Duty plus interest has been extended till 31 March 2024.
If you are interested in the Amnesty scheme, you may register on the official website of the Directorate General of Foreign Trade (DGFT), i.e., www.dgft.gov.in
To view the above explained Public Notice click here.
You may connect with the DGFT experts to gain more insights and maximise your benefits at https://www.dgftguru.com/.
