The Directorate General of Foreign Trade (DGFT) has granted a one-time relaxation for furnishing additional fee to cover excess imports affected under Export Promotion Capital Goods (EPCG) Scheme. The notification was issued on 24th February, 2023.
The Director General of Foreign Trade makes a one time relaxation in procedure in respect of acceptance of fee for excess duty utlisation under the EPCG Scheme as follows:
1. For Ease of Doing Business, the EPCG authorization holder was allowed to furnish additional fee, to cover excess duty utlised, to Regional Authority (RA) concerned at the time of application for Export Obligation Discharge Certificate (EODC).
2. To facilitate the Ease of Doing Business, it has been decided to permit the RAs to allow the authorisation holder to furnish additional fee to cover excess duty utilized for the EPCG authorizations issued under the Foreign Trade Policy (FTP) 2009-14 (extended upto 31.03.2015).
Also at the time of application of EODC subject to the condition that excess duty utilized was not more than 10% of duty saved value of the authorization.
Hence, the present notice grants one-time relaxation in submission of additional fee to cover excess duty utilised in EPCG authorisations issued under Foreign Trade Policy (2009-14) (extended upto 31.03.2015).
