The Directorate General of Foreign Trade (DGFT) has issued a public notice amending the Amnesty Scheme for one-time settlement of default in Export Obligation (EO). This amendment notice was published on 18th April, 2023.
It may be recalled that the DGFT had published the Amnesty Scheme for one-time settlement of default in EO on 1st April, 2023.
The present notice clarifies that all pending cases of the default in meeting EO can be regularised by the authorisation holder on payment of all customs duties that were exempted in proportion to unfulfilled EO and interest payable is capped at maximum of 100% of such duties exempted on which interest is payable.
However, no interest is payable on the portion of Additional Customs Duty and Special Additional Customs Duty.