New Delhi: DGFT, an arm of the commerce ministry, on Tuesday proposed to amend the export obligation period for certain sectors like spices, pharmaceuticals and tea to facilitate outbound shipments.
The government has sought comments on the proposed amendments from all concerned stakeholders within 15 days.
The government allows duty free import of inputs used for manufacturing goods for export purposes only under an advanced authorization scheme, subject to the export obligation period.
Under this period, exporters have to ship the goods within a stipulated time period, failing which a penalty is imposed.
To amend the export obligation period, the Directorate General of Foreign Trade (DGFT) has proposed to amend the Addendum to the Handbook of Procedures of the Foreign Trade Policy, 2023.According to DGFT, several representations have come from Export Promotion Councils (EPCs) and exporters regarding the review of the addendum.
“It is requested to facilitate exports and to work within a high trust based ecosystem. This Directorate is proposing to review the export obligation period mentioned in Appendix – 4J… All stakeholders are advised That they provide their comments/suggestions/views regarding the proposed amendments,” the DGFT said.
This appendix talks about the sectors and their respective export obligation periods.The proposed changes include wheat, raw sugar, natural rubber, corn and walnuts in the list. There is currently a ban on export of wheat in India.
In the proposed amendments, DGFT has revised the obligation period for spices (12 months), coconut oil (90 days to 6 months), silk in any form (9 months to 12 months), wheat (6 months), raw sugar (6 months). Is exempted. Months), Natural Rubber (12 Months), Maize (6 Months) and Walnut (6 Months).
The government has sought comments on the proposed amendments from all concerned stakeholders within 15 days.
The government allows duty free import of inputs used for manufacturing goods for export purposes only under an advanced authorization scheme, subject to the export obligation period.
Under this period, exporters have to ship the goods within a stipulated time period, failing which a penalty is imposed.
To amend the export obligation period, the Directorate General of Foreign Trade (DGFT) has proposed to amend the Addendum to the Handbook of Procedures of the Foreign Trade Policy, 2023.According to DGFT, several representations have come from Export Promotion Councils (EPCs) and exporters regarding the review of the addendum.
“It is requested to facilitate exports and to work within a high trust based ecosystem. This Directorate is proposing to review the export obligation period mentioned in Appendix – 4J… All stakeholders are advised That they provide their comments/suggestions/views regarding the proposed amendments,” the DGFT said.
This appendix talks about the sectors and their respective export obligation periods.The proposed changes include wheat, raw sugar, natural rubber, corn and walnuts in the list. There is currently a ban on export of wheat in India.
In the proposed amendments, DGFT has revised the obligation period for spices (12 months), coconut oil (90 days to 6 months), silk in any form (9 months to 12 months), wheat (6 months), raw sugar (6 months). Is exempted. Months), Natural Rubber (12 Months), Maize (6 Months) and Walnut (6 Months).
