Amendment in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to EPCG Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business'
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EPCG reporting shifted to block period certified submissions, easing compliance and streamlining export obligation evidence. Reporting under the Export Promotion Capital Goods (EPCG) Scheme is changed from an annual online submission to a report after the first four year block period and continuously until expiry of the export obligation period; reports must include Shipping bill/Invoice/Bill of Export/FIRC details, as applicable, and be certified by a Chartered Accountant, Cost Accountant, or Company Secretary to evidence fulfilment of specific and average export obligations.
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Provisions expressly mentioned in the judgment/order text.
EPCG reporting shifted to block period certified submissions, easing compliance and streamlining export obligation evidence.
Reporting under the Export Promotion Capital Goods (EPCG) Scheme is changed from an annual online submission to a report after the first four year block period and continuously until expiry of the export obligation period; reports must include Shipping bill/Invoice/Bill of Export/FIRC details, as applicable, and be certified by a Chartered Accountant, Cost Accountant, or Company Secretary to evidence fulfilment of specific and average export obligations.
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