Maintenance of Annual Average Export Obligation- (Ministry of Commerce and Industry) (22 May 2018)

MANU/DGFT/0077/2018

Commercial

In exercise of the powers conferred under Paragraph 1.03 of the Foreign Trade Policy (FTP), 2015-20, the Director General of Foreign Trade in Public interest hereby makes the following amendments in Hand Book of Procedures 2015-20:

After para 5.19, a new para 5.19A be inserted as under:-

5.19A : Maintenance of Annual Average Export Obligation

The excess exports done towards the average export obligation fulfilment of an EPCG authorization during a year can be used to offset any shortfall in the Average EO done in other year(s) of the EO period or the block period as the case may be provided Average EO imposed is maintained on an overall basis, within the block period or the EO period as applicable.

2. Effect of this Public Notice:

Condonation from non-maintenance of Annual Average in some year(s) offset by excess exports in other year(s) in respect of EPCG authorisations has been granted.

Tags : EXPORT OBLIGATION MAINTENANCE