Govt extends export obligation period for select schemes till Aug 31

According to the Ministry of Commerce & Industry, through public notice issued on March 6, DGFT has provided for automatic extension of the Export Obligation (EO) period or Block-wise EO fulfillment period up to August 31, 2026, for specified Advance Authorisations and Export Promotion Capital Goods (EPCG) Authorisations where the EO period is expiring between March 1, 2026, and May 31, 2026.

The extension shall be granted automatically, and exporters will not be required to submit any separate application or pay any composition fee to avail the benefit. This measure has been introduced to provide additional operational flexibility to exporters facing disruptions arising from current geopolitical developments affecting global trade and logistics.

The relaxation applies to Advance Authorisations, including Advance Authorisation for Annual Requirement and Special Advance Authorisation, as well as EPCG Authorisations. The extension granted under the Public Notice will be in addition to the existing provisions under the Foreign Trade Policy (FTP) and Handbook of Procedures (HBP), which allow exporters to seek EO period extensions upon payment of prescribed composition fees.

The Regional Authorities of DGFT will verify compliance with the Export Obligation requirements at the time of issuance of the Export Obligation Discharge Certificate (EODC), closure, or regularisation of the authorisation.

Customs authorities have also been duly informed through the Public Notice to permit exports in accordance with the revised EO timelines.

This step reflects the Government's continued commitment to supporting exporters and ensuring that temporary global disruptions do not adversely impact India's export performance or compliance obligations under export promotion schemes. (ANI)