Export obligation extension grants time for specified Advance and EPCG authorisations, subject to extra export requirement and no composition fee. Automatic extension of Export Obligation for specified Advance and EPCG Authorisations until 31.12.2021 is allowed without composition fees, conditional on a 5% additional export obligation in value terms on the balance EO as of expiry. No application to the Regional Authority is required; EO fulfilment will be verified by the RA at EODC/closure/regularisation. The option to use existing composition-fee extension routes remains, but composition fees previously paid for extensions are non-refundable.
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Provisions expressly mentioned in the judgment/order text.
Export obligation extension grants time for specified Advance and EPCG authorisations, subject to extra export requirement and no composition fee.
Automatic extension of Export Obligation for specified Advance and EPCG Authorisations until 31.12.2021 is allowed without composition fees, conditional on a 5% additional export obligation in value terms on the balance EO as of expiry. No application to the Regional Authority is required; EO fulfilment will be verified by the RA at EODC/closure/regularisation. The option to use existing composition-fee extension routes remains, but composition fees previously paid for extensions are non-refundable.
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