[To be published in the Gazette of India Extraordinary
(Part-I, Section-I)]
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Public Notice No. 14/2024-25
New Delhi, Dated: 16.07.2024
Subject:- Amendment in Para 4.49 (b) of the Handbook of Procedures, 2023
In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy 2023, as amended from time to time, the Director General. of Foreign Trade hereby makes the following amendments in the provisions of Para 4.49 (b) of the Handbook of Procedures 2023:
| Existing para 4.49 (b) | Amended pars 4.49 (b) |
|
If the Export Obligation
is fulfilled in quantity but there is shortfall in value, no penalty
shall be imposed if Authorisation holder has achieved minimum Value
Addition prescribed. However, if Value Addition falls below the minimum
Value Addition prescribed, Authorisation holder shall be required to
deposit an amount equal to 3% of shortfall in FOB value in Indian Rupee,
online through DGFT website.- |
If the Export Obligation
is fulfilled in quantity but there is shortfall in value, no penalty
shall be imposed if Authorisation holder has achieved minimum Value
Addition prescribed. However, if Value Addition falls below the minimum
Value Addition prescribed, Authorisation holder shall be required to
deposit an amount equal to 1% of shortfall in FOB value in Indian Rupee,
online through DGFT website. |
Effect of the Public Notice: Para 4.49 (b) of the Handbook of Procedures, 2023 has been amended, reducing the composition fee, for ease of doing business and reducing compliances.
Santosh Kumar Sarangi
Director General of Foreign Trade
Ex-Officio Additional Secretary, Government of India
Email: dgft@nic.in
[Issued from File No. 01/94/180/082/AM24/PC-4]