Extension of Block of years for fulfilment of export obligation

By Vijay Kumar

DGFT has decided that "The request for extension of Block of years for fulfilment of export obligation may be considered by the concerned Regional Authorities, subject to payment of 2% of duty saved on unfulfilled E.O. for each block, in respect of the licenses up to Rs.50 crores; on a similar basis as contained in Para 5.11 of HBP Vol.I for extension of export obligation period. All Cases above Rs.50 crores may be forwarded to DGFT (HQ) for consideration of EPCG Committee".

DGFT Policy Circular No. 33 (RE-2007)/2004-2009 Dated : March 17, 2008