The Directorate General of Foreign Trade (DGFT) has introduced an automated facility for granting extensions on export obligations. This new system operates through the Policy Relaxation Committee (PRC) and the Export Promotion Capital Goods (EPCG) Committee. The move aims to simplify the process and enhance ease of doing business.
This automation affects how exporters apply for extensions on their export obligations. The process, previously manual, is now streamlined through digital means, potentially reducing the time and effort involved. Exporters dealing with capital goods under the EPCG scheme should pay attention to this change as it could impact their compliance timelines and documentation.
1) Open the official notice here
2) Check whether your CTH, documents or policy line is touched
3) Ask Neo's CHA before changing Bill of Entry or Shipping Bill practice