Amendments in Chapter 5 of the Handbook of Procedures 2015-20, related to Export Promotion Capital Goods Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business'
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Export Promotion Capital Goods Scheme amended to relax extension timelines, require online EO reporting, and streamline EODC procedures.
Amendments to the Export Promotion Capital Goods Scheme extend timelines for extension and regularisation of export obligation periods, introduce structured late fees and composition fees for shortfalls, require online annual reporting of EO fulfilment with late filing penalties, and modernise issuance and electronic forwarding of Export Obligation Discharge Certificates to ICEGATE. Automatic proportional enhancement of authorizations for limited excess imports is retained with obligation to pay additional fee at EODC application, and defaults entail payment of customs duties, taxes, cess and interest.