Last date for exporters to apply for amnesty scheme extended till Dec 31

The last date to apply for availing benefits of the amnesty scheme for one-time settlement of default in export obligation by certain exporters has been extended for six months till December 31, the commerce ministry said on Friday.

Earlier, June 30 was fixed as the last date for registration under the scheme.

The government announced the new foreign trade policy (FTP) on March 31. It included an amnesty scheme for exporters for one-time settlement of default in export obligation by the holders of advance and EPCG (export promotion for capital goods) authorisations.

Directorate General of Foreign Trade (DGFT), under the ministry, also said that the last date for payment of customs duty plus interest has been extended till March 31, 2024.

"The last date to apply under the amnesty scheme has been extended till December 31, 2023," DGFT said in a public notice.

Under the scheme, all pending cases of the default in meeting export obligation (EO) of certain authorisations can be regularised by the authorisation holder on payment of all customs duties that were exempted in proportion to unfulfilled EO and interest at the rate of 100 per cent of such duties exempted.