Policy Circular No. 53 (RE-2010)/2009-14 Dated 23/02/2012
Subject: Operationalisation of provisions of Para 5.11.2 of Hand Book of Procedure Vol.-1 (2009-14) [RE: 2010]

Para 5.11.2 of the Hand Book of Procedure Volume – 1 (HBP V-I) permits re-fixation of Annual Average Export Obligation, in case the export in any sector/ product group decline by more than 5%. This implies that for the sector/product group that witnessed such decline in 2010-11 as compared to 2009-10, would be entitled for such relief.

2. A list of such product groups showing the percentage decline in exports during 2010-11 as compared to 2009-10 is enclosed.

3. All Regional Offices are requested to re-fix the annual average export obligation for EPCG Authorizations for the year 2010-11 accordingly and to ensure that there is a mention on the Licence File, as well as on the Amendment Sheet, if there is any reduction in the Annual Average Export Obligation on the basis of this Circular.

4. Three Policy Circulars have earlier been issued in this regard. Policy Circular 43 dated 02.12.2008 was issued for granting relief to the sectors which witnessed decline in 2007-08 as compared to 2006-07, Policy Circular 13 dated 27.10.2009 was issued for granting relief to the sectors which witnessed decline in 2008-09 compared to 2007-08 and Policy Circular 8 dated 24.12.2010 was issued for granting relief to the sectors which witnessed decline in 2009-10 compared to 2008-09. This circular is the fourth circular on this issue.

5. Regional Offices while considering requests of discharge of Export Obligation will ensure that in case of shortfall of Export Obligation Policy Circulars issued in terms of Para 5.11.2 of HBP 2009-14 (RE 2010) are also considered before issuance of demand notice etc. This stipulation should also form part of Check-Sheet for the purpose of EODC.

6. This issues with the approval of DGFT.

Sd./-
(Rita Mahna)
Deputy Director General of Foreign Trade

(Issued from File No. 01/36/218/131/AM-12/EPCG-I)
 

ieport.com - India's Premier portal on DGFT, Customs and Central Excise matters