Dear friends,
Few days back DGFT has issued a notifications for export of few APIs and its formulations. My query is if the APIs were imported under Advance licence before the notification came into force, now I have to fulfill the export obligations in terms of customs Notification No. 18/2017. In this scenario what will happen to my export obligation if the conditions of customs notification are not complied with? Pl clarify.
Discussion on Export Restrictions: Compliance Challenges under DGFT's Notification and Customs Notification No. 18/2015 for APIs. A user raised a query regarding the export restrictions on certain APIs and formulations following a notification by the Directorate General of Foreign Trade (DGFT). The user was concerned about fulfilling export obligations under Customs Notification No. 18/2017, particularly for APIs imported under an Advance License prior to the notification. A respondent corrected the notification number to 18/2015, while another suggested seeking clarification directly from the DGFT's office. The discussion focused on understanding compliance with export obligations amidst regulatory changes. (AI Summary)
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