TaxTMI 
TaxTMI 
Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders
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....t Obligation under (a) Advance Authorisation Scheme and (b) EPCG Scheme. I) Coverage: i. The Authorisations issued under Advance Authorisation Scheme (all variants) and EPCG Scheme (all variants) issued under Foreign Trade Policy, 2009-14 till 31.03.2015 are covered under the Scheme. ii. For Authorizations issued under Advance Authorisation Scheme (all variants) and EPCG Scheme (all variants) issued under Foreign Trade Policy, 2004-2009 and before, the coverage is limited to those authorizations whose Export Obligation Period (original or extended) was valid beyond 12.08.2013. II) The scheme i. This scheme is called "Amnesty scheme for one time settlement of default in export obligation by Advance and EPCG authorization holders....
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....ny authorisation holder choosing to avail this benefit must complete the process of registration as mentioned in para (iii) above on or before 31.12.2023 and payment of Customs duty plus interest with the Jurisdictional Customs Authorities concerned shall be completed by 31.03.2024.] viii. Based on the evidence of such payment and other relevant documents as prescribed under the Handbook of Procedures, concerned RA may examine the request and issue a letter granting Export Obligation Discharge Certificate (EODC). ix. Even cases which have already been adjudicated (or pending adjudication), either originally or in appeal, can also be regularized under this Public Notice. The procedure for regularization of such cases would be as under :-....
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....as to be calculated from the date of import till the date of payment. In the total CIF value of unutilised exempted material is say Rs. 100/-, all the customs duties (including Additional Customs Duty and Special Additional Customs Duty) exempted is say Rs.50/- . The Customs duties exempted (except Additional Customs Duty and Special Additional Customs Duty) portion is say Rs.32/- then interest payable is maximum of Rs. 32/- (100% of Rs.32/-). Therefore for regularising this case the maximum amount payable by the authorisation holder would be Rs. 50 + 32/- = Rs.82/-. Example 2: Where there is a shortfall in EO fulfillment:- In the total CIF value of authorization is say Rs. 500/-, the default in EO were 40%, then the corresponding CIF valu....