Central Board of Indirect Taxes & Customs on 17th May, 2023 issued a circular regarding an amnesty scheme for one time settlement of default in export obligation by advance and EPCG authorization holders. Cases under investigation or adjudication involving fraud, mis-declaration or un-authorized diversion of material and/or capital goods is not covered under the scheme. Authorization holder shall not claim CENVAT credit or Refund. Calculation mistakes are to be dealt on merits.
The Commissioners shall ensure exporters approaching to pay duty are registered with DGFT. Such cases shall be tracked and monitored for efficient handling. Suitable mechanisms shall be put in place for close supervision.