FTP - Re-fixation of Annual Average Export Obligation
PARA 5.11.2 of the Hand Book of Procedure Volume - 1 (HBP V-I) permits re-fixation of Annual Average Export Obligation, in case the export in any sector/ product group decline by more than 5%. This implies that for the sector/product group that witnessed such decline in 2011-12 as compared to 2010-11 would be entitled for such relief.
DGFT has requested all the Regional Officers to re-fix the annual average export obligation for EPCG Authorizations for the year 2011-12 based on the list given by DGFT showing the percentage decline in exports during 2011-12 as compared to 2010-11.
Regional Offices while considering requests of discharge of Export Obligation are to ensure that in case of shortfall of Export Obligation, Policy Circulars issued earlier in terms of Para 5.11.2 of HBP 2009-14 are also considered before issuance of demand notice etc. This stipulation should also form part of Check-Sheet for the purpose of EODC.
DGFT Policy Circular No. 9/(RE-2012)/2009-14, Dated: December 27, 2012