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of <h1>Amnesty Scheme Announced for Export Obligation Defaults: Settle by March 31, 2024, Under Public Notice 2/2023-DGFT.</h1> The circular outlines an Amnesty Scheme for settling defaults in export obligations by holders of Advance License and Export Promotion Capital Goods (EPCG) authorizations. As per the amended Public Notice 2/2023-DGFT, authorization holders can regularize defaults by paying applicable customs duties and capped interest by March 31, 2024. The scheme excludes cases involving fraud or mis-declaration. Authorization holders must comply with payment and documentation requirements to remain eligible. Non-compliance will result in enforcement actions. Trade associations are urged to disseminate this information, and any difficulties should be reported to the Chennai Customs office.
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