Amendments in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to Export Promotion Capital Goods Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business'

Export Promotion Capital Goods Scheme: installation certificate timelines and composition fee regimes revised to ease compliance.

The Handbook of Procedures is amended to extend the installation certificate submission period from six months to three years with RA granted further extension up to the valid EO period on payment of an annual composition fee; spares provision deleted. Tiered fixed composition fee schedules replace earlier fee rules for extension and regularisation of first block EO, apply retrospectively to FTP (2015-20) authorisations, and non refundability of paid composition fees is reiterated. Extensions beyond six years may be granted as two one year extensions or two years in one go, subject to specified composition fees and PRC levy rules.