December, 2023 – Issue No. II

EPCG
  1. The Amnesty Scheme for closure of cases of default in Export Obligation (EO) under Advance Authorisation (AA) and EPCG Schemes was notified vide Public Notice No. 02/2023 dated 01.04.2023. The last date for submitting applications under the Amnesty Scheme has been extended till 31.12.2023 vide Public Notice No. 20/2023 dated 30.06.2023.
  2. In this context all concerned are informed that Policy Relaxation Committee (PRC)/EPCG Committees consider each application based on individual facts and circumstances of a case to case basis. Since Policy relaxation is not a matter of right, all such authorisation holders are advised to not wait till their requests are decided by the PRC/EPCG Committees and submit their applications for closure of default in EO under the Amnesty Scheme by the prescribed date of 31.12.2023. Pendency of any application for relaxation/clarification would not form a ground for relief/extension of permissible time period for filing of applications under the Amnesty Scheme beyond the prescribed date.
  3. All AA/EPCG authorization holders covered under the Amnesty scheme are requested to avail of the scheme as the last date for filing applications will not be extended beyond 31.12.2023.

The Indian Tax Advisors