Decline in Exports - Relief to Exporters
AS per para 5.11.2 of the Handbook Of Procedures, “To provide relief to exporters of those sectors where total exports in that sector/product group has declined by more than 5% as compared to the previous year, average export obligation for the year may be reduced proportionate to reduction in exports of that particular sector/product group during the relevant year as against the preceding year.”
Now the DGFT has amended the para to include the provision that, “However, in case export decline is continuous over consecutive years, the base year for calculation of eligibility and calculation of reduction in Average Export Obligation will be taken as the year after which the exports have shown continuous decline.”
DGFT Public Notice No. 36/2009-2014, Dated: January 21, 2010