Clarification on the applicability of 3% amount on account of non-achievement of minimum Value Addition as mentioned in para 4.49 (b) and amount equivalent to 10% of the CIF value in Para 4.49 (a) (ii) of HBP 2023

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....e Directorate General of Foreign Trade Vanijya Bhawan, New Delhi Policy - 4 Division Policy Circular No. 02/2024 Dated: 03rd May, 2024 To All Regional Authorities of DGFT All Exporters/Members of Trade All Custom Authorities Subject: Clarification on the applicability of 3% amount on account of non-achievement of minimum Value Addition as mentioned in para 4.49 (b) an....

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....rdingly, it is clarified that provisions relating to the payment of 10% of CIF value and 3% of shortfall in FOB value amounts specified in Para 4.49(a) (ii) and 4.49(b) respectively of Handbook of Procedures, 2023 are applicable only in cases where Advance Authorization is issued on or after 01.04.2023. 4. AAs issued prior to 01.04.2023, will be governed by the relevant provisions of HBP (for t....