5.17

Extension in Export Obligation Period

(a) Extension in Export Obligation Period of EPCG authorization issued prior to Notification of FTP 2015-20 RE 2017 shall be governed by relevant provisions of HBP applicable on the date of issue of authorisation.

(b) Extension in Export Obligation Period of EPCG authorization issued prior to Notification of FTP 2015-20 shall be governed by relevant provisions of HBP Vol 1 applicable on the date of issue of authorization.

(c) In case of zero duty EPCG Authorizations, two extensions of one year each in export obligation period may be considered by RA concerned, on payment of composition fee equal to 5% and 10% respectively of proportionate duty saved amount on unfulfilled export obligation for the first/second year of extension or an enhancement in export obligation imposed to the extent of 10% /20% respectively of the total export obligation imposed under the authorization for first/second year of extension, as the case may be, at the choice of the exporter. Minimum composition fee will be Rs.10,000.

(d) Request for extension in EO Period shall be made to RA within 90 days from the date of expiry of original EO Period. However, RA may consider the request for extension received upto 180 days with additional composition fee of Rs.5,000.