DGFT clarifies conditions for fulfilment of Export Obligation in case of third party exports under EPCG Scheme

DGFT clarifies conditions for fulfilment of Export Obligation in case of third party exports under EPCG Scheme

April 3, 2019 Fiscal, Industries, states 0

Director General of Foreign Trade(DGFT) has issued Public Circular No. 22/2015-2020 to clarify that proceeds realized through normal banking channel from third party exporter’s account to the EPCG authorisation holder’s account on account of such exports only shall be counted towards fulfilment of export obligation from 5th December, 2017.  Accordingly, in case of third party exports, till 4th December, 2017 an authorization holder can count the full realized value of the shipping bill towards fulfilment of export obligation subject to counting of exports only once towards the EPCG obligation and maintenance of Average Export Obligation.

Source : Director General of Foreign Trade

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