Extension of export obligation block: regional authorities grant extensions subject to duty-saved payment; larger cases referred to HQ. Regional Authorities are empowered to consider requests for extension of the Block of years for fulfilment of export obligation and may allow extensions on payment of 2% of duty saved on unfulfilled export obligation for each block for licences up to Rs.50 crores; cases above Rs.50 crores are to be forwarded to DGFT (HQ) for EPCG Committee consideration. The rule applies to all licences irrespective of date of issue and is effective from the date of the circular.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Extension of export obligation block: regional authorities grant extensions subject to duty-saved payment; larger cases referred to HQ.
Regional Authorities are empowered to consider requests for extension of the Block of years for fulfilment of export obligation and may allow extensions on payment of 2% of duty saved on unfulfilled export obligation for each block for licences up to Rs.50 crores; cases above Rs.50 crores are to be forwarded to DGFT (HQ) for EPCG Committee consideration. The rule applies to all licences irrespective of date of issue and is effective from the date of the circular.
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