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Date: 14-01-2019
Notification No: Policy Circular No . 17/2015--2020
Issuing Authority: DGFT  
Type: Circular
File No: F. No. 01/94/1S0/325/AM19/PC-4
Subject: Additional extension of six months in the Export Obligation Period (EOP) (beyond permissible extension period in Para 4.42 of the HBP) to advance authorizations issued upto 30.06.2016 involving import of Raw cashew (SION E S) relaxation of Policy/ Procedure.

Government of India
Ministry of Commerce & I ndustry
Directorate Genera l of Foreign Trade,
Udyog Bhawan, New Delhi .

Policy Circular No . 17/2015--2020

Dated 14.01.2019

To,

All RAs of DGFT

Sub: Add itional extension of six months in the Export Obl igation Period (EOP) (beyond permissible extension period in Para 4.42 of the HBP) to advance authorizations issued upto 30.06.2016 involving import of Raw cashew (SION E S) - relaxation of Policy/ Procedure.

Cashew Export Promotion Council has approached th is Directorate with difficulties being faced by the cashew industry due to introduction of 5% Customs Duty w.e.f. 01 .03.2016 and unawareness of their members about Advance Authorization Scheme. It has reported that many of its member exporters are facing difficulties in exports during stipulated Export Obligation Period . Cashew EPC has requested that six months additional Export Obligation Period may be allowed to the Advance authorizations issued to cashew industry.

2. The Pol icy Relaxation Committee (PRC) in its meeting held on 03.01.2019 considered the request of the Cashew Export Promotion Council and after detailed discussions, in view of difficulties being faced by Advance Authorization holders, decided , as a one time measure, to allow six months additional extension (beyond permissible extension period in Para 4.42 of the HBP 2015-20) in the Export Obligation Period to advance authorizations issued upto 30.06.2016 involving import of Raw Cashew (SION ES) in relaxation of Policy/Procedure. This add itional extension shall be subject to payment of composition fee @1% per month on the unfulfilled FOB value of the export obligation .

3. This issues with the approval of DGFT.

(Issued from F. No. 01/94/1S0/325/AM19/PC-4)

(Dilip Kumar)
Deputy Director General of Foreign Trade

       

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