The government on Tuesday proposed amendments to the export obligation period for raw sugar, maize, wheat, natural rubber, spices, pharma, tea, and others to help facilitate their exports.
India allows duty free import of inputs used for manufacturing for exports subject in advance authorisation to export obligation period in which exporters have to ship the goods within a stipulated time period otherwise they are penalised.
In a trade notice, Directorate General of Foreign Trade (DGFT) said, “There have been a lot of representations from EPC and exporters regarding review of Appendix 4J of the HBP. This has been requested to facilitate exports and operate within a higher trust based eco-system. This Directorate is proposing a review of export obligation period as mentioned in Appendix -4J.”
The proposed relaxations in the obligation period for coconut oil to six months from 90 days, silk in any form to 12 months from nine months, and six months for wheat, raw sugar, natural rubber, maize and walnut.
“All stakeholders are advised to provide their comments/suggestions/views with regards to proposed amendments in Appendix-4J of HBP 2023, within 15 days of the issuance of this Trade Notice to e mail id policy4-dgft@gov.in,” the DGFT stated further in a trade notice.
Click here to read trade notice
