Amendment in Para 449 b of the Handbook of Procedures 2023

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-17072024-255490 EXTRAORDINARY PART I—Section 1 PUBLISHED BY AUTHORITY No. 192] NEW DELHI, TUESDAY, JULY 16, 2024/ASHADHA 25, 1946 MINISTRY AND COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) PUBLIC NOTICE New Delhi, the16th July, 2024 No. 14/2024-25 Subject: Amendment in Para 4.49 (b) of the Handbook of Procedures, 2023 F. No. 01/94/180/082/AM24/PC-4— In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy 2023, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendments in the provisions of Para 4.49 (b) of the Handbook of Procedures 2023: +=======================================================================================================+ | Existing para 4.49 (b) | Amended para 4.49 (b) | +=======================================================================================================+ | If the Export Obligation is fulfilled in quantity but there | If the Export Obligation is fulfilled in quantity but there | | is shortfall in value, no penalty shall be imposed if | is shortfall in value, no penalty shall be imposed if | | Authorisation holder has achieved minimum Value | Authorisation holder has achieved minimum Value | | Addition prescribed. However, if Value Addition falls | Addition prescribed. However, if Value Addition falls | | below the minimum Value Addition prescribed, | below the minimum Value Addition prescribed, | | Authorisation holder shall be required to deposit an | Authorisation holder shall be required to deposit an | | amount equal to 3% of shortfall in FOB value in Indian | amount equal to 1% of shortfall in FOB value in Indian | | Rupee, online through DGFT website. | Rupee, online through DGFT website. | +=======================================================================================================+ SANTOSH KUMAR SARANGI, Director General of Foreign Trade Ex-officio Addl. Secy. Effect of the Public Notice: Para 4.49 (b) of the Handbook of Procedures, 2023 has been amended, reducing the composition fee, for ease of doing business and reducing compliances. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.