The Directorate General of Foreign Trade (DGFT) on July 16, 2024, issued an amendment in Para 4.49 (b) of the Handbook of Procedures, 2023.
The following amendment has been stated:
• The para 4.49 (b) has been substituted:
If the Export Obligation is fulfilled in quantity but there is a shortfall in value, no penalty shall be imposed if the Authorisation holder has achieved the minimum Value Addition prescribed. However, if Value Addition falls below the minimum Value Addition prescribed, the Authorisation holder shall be required to deposit an amount equal to 1% of the shortfall in FOB value in Indian Rupee, online through the DGFT website.
[File No. 01/94/180/082/AM24/PC-4]
