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of <h1>New SOPs for Export Obligation Monitoring under EPCG and Advance Authorization Schemes: Compliance, Penalties, and Procedures Explained.</h1> The circular outlines the Standard Operating Procedures (SOP) for monitoring export obligation fulfillment under the EPCG and Advance Authorization schemes. It details the role of the Export Obligation Monitoring Cell (EOMC) in overseeing compliance with duty exemptions provided under these schemes, as per the Foreign Trade Policy. Importers must submit installation certificates within specified timeframes, and failure to meet export obligations leads to duty repayment with interest. The notice describes procedures for handling defaults, including issuing simple notices, recovery actions, and potential penalties for non-compliance. It also advises trade associations to disseminate this information to their members.
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