Export Obligation Reporting Revised for EPCG Scheme: New Submission Timeline Eases Compliance Burden.

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....The Public Notice amends the provision related to reporting requirements for fulfillment of Export Obligation (EO) under the Export Promotion Capital Goods (EPCG) Scheme. Instead of annual reporting, authorization holders must now submit a report on EO fulfillment to the concerned Regional Authority after the expiry of the first four-year block period and continuously until the valid EO period ends. The report must contain details of shipping bills, invoices, bills of export, and foreign inward remittance certificates, duly certified by a Chartered Accountant, Cost Accountant, or Company Secretary, evidencing fulfillment of specific and average EO, where applicable. This amendment aims to reduce compliance burden and enhance ease of doing business for EPCG authorization holders.....