DGFT simplifies the EPCG scheme, extending deadlines for installation certificates and reducing fees, making compliance easier for exporters.
The Directorate General of Foreign Trade (DGFT) has announced key changes to simplify the Export Promotion Capital Goods (EPCG) scheme, aiming to ease compliance for exporters. Under the revised scheme, exporters now have more time to submit installation certificates for imported capital goods, easing the pressure to meet tight deadlines.
The update also introduces a simplified and reduced fee structure for extending the export obligation (EO) period, designed to minimize manual processes and streamline compliance. This initiative is part of the government’s commitment to creating a more business-friendly environment and enhancing India’s manufacturing competitiveness.
Additionally, the Policy Relaxation Committee (PRC) decisions related to export obligation extensions and export regularization will now be implemented with a uniform composition fee, simplifying the process further. These changes are intended to reduce the time and effort required to meet DGFT requirements by expanding automated rule-based processes and decreasing manual intervention, thus improving trade facilitation efficiency.
