GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
O/O ZONAL JT. DIRECTOR GENERAL OF FOREIGN TRADE (CLA)
‘A’ WING, I.P. BHAWAN, I.P. ESTATE, NEW DELHI-110002.
TRADE NOTICE NO.1
DATE:-11/05/10
Attention of the trade and industry is invited to the FTP provisions which
stipulate that for redemption of EPCG Authorizations, the shipments counted
towards fulfillment of specific / additional export obligation (EO) cannot be
counted towards fulfillment of average EO imposed on that particular
Authorization. Similarly, exports made for fulfillment of specific EO of a
particular Authorization cannot be counted towards fulfillment of average EO of
another Authorization. This issue was discussed in the last Port Officers
Meeting held on 16.11.2009, and suitable amendments in line with the above in
ANF5B and Appx 26A for redemption of EPCG Authorisations are under examination
in DGFT-Hqrs.
- In the meanwhile, this office was asking for submission of a
statement of shipping bills counted towards fulfillment of average EO at the
time of redemption. However, some applicants have expressed their
reservation in submitting this list, as the same may contain details of very
large number of shipping bills.
- Accordingly, as a measure of trade facilitation, henceforth, EPCG
Authorization holders, while applying for redemption should give following
declarations duly counter signed by an independent Chartered Accountant:
a) It is to certify that all shipping bills which have been
counted towards fulfillment of specific / additional EO against EPCG
authorization No……dt…, have not been considered towards fulfillment of average
EO against the same Authorization and any other EPCG Authorization.
b) It is also to certify that all shipping bills which have been counted towards
fulfillment of average EO in EPCG Authorization Number…………dt…… have not and will
not be counted towards fulfillment of specific / additional EO of this EPCG
Authorization and any other EPCG Authorization.
Authorization holders and Chartered Accountant would be fully accountable for
these declarations and in case, these are found to be false / misleading, strict
penal action under the provisions of FTDR Act, 1992 would be taken.
(SANJAY RASTOGI)
ZONAL JT.DIRECTOR GENERAL OF FOREIGN TRADE
(Issued from file no. MISC-01/AM-11/Trade Notice/CLA)