DGFT eases some procedural rules

Rate of composition fee will depend on whether half the export obligation has been fulfilled, within the initial period

In a welcome move, the Directorate General of Foreign Trade (DGFT) has eased the procedures for clubbing of advance authorisations issued in the 2009-14 and 2015-20 Foreign Trade Policy (FTP) periods. And, given useful one-time dispensations to facilitate closure of authorisations under the Export Promotion Capital Goods (EPCG) scheme and older advance authorisations. 

Exporters may now ask for clubbing of advance authorisations issued with pre-import conditions and advance authorisations issued with an export obligation (EO) period of less than 18 months. Even cases rejected by the policy relaxation may be considered. However, only export made within the initial or extended EO