Last date to file annual report under EPCG Scheme extended till Sept 30

New Delhi, June 13 (KNN) The Directorate General of Foreign Trade (DGFT) has extended the deadline for filing annual report under the Export Promotion Capital Goods (EPCG) Scheme for the year 2022-23 till September 30, 2022.

The EPCG Scheme aims to facilitate import of capital goods for producing quality goods and services and enhance India's manufacturing competitiveness.

Fine of Rs 5000 will be imposed for the returns due to be filed from the year 2022-23 onwards.

With immediate effect, the DGFT amended Chapter 5 of the Handbook of Procedures (2015-20). The changes apply to EPCG authorizations issued under FTP-2 015-20.

The EPCG Scheme provides zero-duty imports of capital goods for pre-production, production, and post-production. Alternatively, the exporter may get capital goods from the domestic market in compliance with Foreign Trade Policy requirements (FTP).  (KNN Bureau)