Policy Circular No 11(RE-01)/ 2001-02, Dt. 1/10/2001
- Document type
- Circular
- Reference no.
- E
- Dated
Maintenance of Average by the EPCG licence holders during the extended period of time / amnesty period under PN No 3/ 2001 Dt. 31.03.2001
Maintenance of Average by the EPCG licence holders during the extended period of time / amnesty period under PN No 3/ 2001 Dt. 31.03.2001
To,
ALL CONCERNED
- Sub:
- Maintenance of Average by the EPCG licence holders during the extended period of time / amnesty period under PN No 3/ 2001 dt. 31.03.2001
2) A doubt has been raised as to whether the EPCG licence holders availing the amnesty scheme under the said Public Notice are required to maintain Average during the extended period of export obligation or not.
3) The issue was considered by the Policy Review Committee at its meeting held on 13.08.2001 under the chairmanship of DG. In view of the decision taken therein, it is clarified that the licence holders availing this facility are also required to maintain average export obligation during the extended period till the export obligation is completed in full. For example, if the licence was issued during 1993-94 period, the original EO period of five years expired in 1998-99. If the entire EO is completed by 31.03.2002 (i.e during the 2001-2002 period) the average has to be maintained from 1993-94 to 2001-2002.
This issues with the approval of the DGFT.
Bipin Menon
Dy Director General of Foreign Trade