NCLAT: Creditors May Choose to Proceed Against One or Multiple Guarantors as They See Fit  ||  NCLAT Delhi: Authority Can Enforce Arbitral Award Via Resolution Professional Under IBC Section 60(5)  ||  Bombay HC Rejects Plea For 'Eco-Friendly' Ganesh Idol Immersion, Upholds Citizens' Right to Clean Wat  ||  Delhi HC:WhistleblowingDoesn’t Grant Employees Immunity from Transfer Orders  ||  Delhi HC: Higher Compounding Fees Don't Apply on Second TDS Default Plea If First Was Rejected  ||  NCLAT Rules Guarantor’s Liability Can Exceed Cap Set in Guarantee Deed on Principal Borrower’s Debt  ||  NEET-UG 2025: Supreme Court Dismisses Plea Claiming OMR Sheet Tampering by Candidate  ||  SC Refuses Interim Bail to Shabir Ahmed Shah; Issues Notice on His Bail Petition  ||  SC Summons MCD Commissioner over Debris at Lodhi-Era Gumti, Asks, "Is There an Ego Issue?"  ||  SC Grants Interim Relief to YSRCP’s Pinnelli Ramakrishna Reddy in Double Murder Case of TDP Activists    

Relief in Average Export Obligation in terms of the para 5.17(a) of Hand Book of Procedures (HBP) of FTP, 2023- (Ministry of Commerce and Industry) (22 Feb 2024)

MANU/DGFT/0017/2024

Commercial

The para 5.17 of the Handbook of Procedures of the FTP, 2023 envisages that to provide relief to exporters of those sectors where total exports in that sector/product group has declined by more than 5% as compared to the previous year, the Average Export Obligation (EO) for the year may be reduced proportionate to reduction in exports of that particular sector/product group during the relevant year as against the preceding year. This implies that the sector/product group that witnessed such decline in 2022-23 as compared to 2021-22 would be entitled for such relief.

All Regional Authorities are requested to re-fix the Annual Average EO for EPCG Authorizations for the year 2022-23 accordingly. Reduction, if any, in the EO should be appropriately endorsed in the licence file of the Office of RA as also in the amendment sheet to be issued to the EPCG Authorisation holder.Regional Authorities while considering requests of discharge of EO will ensure that in case of shortfall in EO fulfilment, Policy Circulars issued earlier in terms of Para 5.11.2 of HBP, 2009-14 and Para 5.19 of HBP, 2015-20 are also considered before issuance of demand notice, EODC etc. This stipulation should be part of Check-Sheet for the purpose of EODC.This issues with the approval of Director General of Foreign Trade.

Tags : RELIEF   EXPORT   OBLIGATION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved