Generally goods including capital goods or raw material can be imported on payment of custom duty. However, as per Foreign Trade Policy exporters can import capital goods or raw material without payment of custom duty, if they take EPCG/Advance Authorisation from DGFT, however for taking advantage of duty-free import, it is required to fulfil certain export obligations as per conditions given in Foreign Trade Policy.
It was seen that some of the exporters could not fulfil their export obligation due to some reasons. Now, to grant relaxation to such exporters DGFT has issued amnesty scheme vide Public Notice number 02/2012 dated 01/04/2023. Key highlights of the amnesty are given hereunder:
Neither CENVAT Credit nor Refund, under any provision of law, of any amount shall be allowed on duties paid under this scheme. The applicant shall also give an undertaking that they will not file any application for CENVAT Credit or refund of any duty paid under this scheme before any authority and/or before any court of law.
The notification can be accessed at button below: