The Directorate General of Foreign Trade (DGFT) vide public notice dated May 22, 2018 has amended the Hand Book of Procedures 2015-20.
After existing Para 5.19 related to Maintenance of Annual Average Export Obligation, a new Para 5.19 A has been inserted as follow:
“5.19A : Maintenance of Annual Average Export Obligation
The excess exports done towards the average export obligation fulfillment of an EPCG authorization during a year can be used to offset any shortfall in the Average EO done in other year(s) of the EO period or the block period as the case may be provided Average EO imposed is maintained on an overall basis, within the block period or the EO period as applicable.”
Condonation from non-maintenance of Annual Average in some year(s) offset by excess exports in other year(s) in respect of EPCG authorisations has been granted.
[Public Notice No.10/2015-2020.]