DGFT reviews procedure to avail EPCG Scheme to reduce ‘Compliance Burden’ and enhance ‘Ease of doing Business’

The Director General of Foreign Trade vide notification dated 20th September, 2024 has issued an amendment in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to EPCG Scheme to reduce ‘Compliance Burden’ and enhance ‘Ease of doing Business’. The amendment provides that the authorization holder shall submit to RA concerned a report on fulfilment of export obligation through online mode after expiry of first block period of four years and continuously till the expiry of valid EO period. Such report shall contain a statement with details of Shipping bill/Invoice number/Bill of Export/FIRC number with date and number, as applicable, duly certified by Chartered Accountant/Cost Accountant/Company Secretary for evidencing fulfillment of specific as well as average EO (wherever applicable).