The Central Board of Indirect Taxes and Customs (CBIC) on May 17, 2023, issued a circular regarding the Amnesty Scheme for one-time settlement of default in export obligation by Advance and EPCG authorization holders with reference to Notification No. 32/2023-Customs dated April 26, 2023, to amend 13 Customs notifications pertaining to Advance Authorization (AA) and Export Promotion Capital Goods (EPCG) Schemes.
The amendments made by the Notification No. 32/2023-Customs provide that in a case of default in export obligation when the duty on the goods is paid to regularize the default in term of Public Notice No. 02/2023 dated April 01, 2023, notified by DGFT, the amount of interest to be paid by the importer shall be payable as specified in the said Public Notice dated April 01, 2023. No other change is involved.
It should be noted that the scheme does not apply to cases that are being investigated or decided on for involving fraud, misrepresentation, or illegally diverting materials and/or capital goods. The authorization holder is also prohibited from requesting a CENVAT credit or refund for any amount paid in duties under this scheme under any legal provision.
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