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of <h1>Indian Finance Ministry Amends Customs Notifications for Amnesty Scheme on Export Obligation Defaults by Advance & EPCG Authorization Holders.</h1> The Indian Ministry of Finance has amended several customs notifications to implement an Amnesty Scheme for one-time settlement of export obligation defaults by Advance and EPCG authorization holders. The amendments specify that in cases of default, when duties are paid to regularize the default as per a public notice from the Ministry of Commerce and Industry dated April 1, 2023, the interest amount payable by the importer will align with the terms outlined in that notice. These amendments apply to various notifications issued between 2002 and 2013 and aim to facilitate compliance and settlement of defaults in export obligations.
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