“DGFT issues public notice on amendments to Para 4.42 of Handbook of Procedures”

The Directorate General of Foreign Trade has issued a public notice amending Para 4.42 of the Handbook of Procedures 2015-2020 to integrate a uniform and transparent system for implementing all PRC decisions involving the levy of Composition Fee. The new system will provide clarity and predictability in the process of levying Composition Fee for extension of Export Obligation Period and/or regularization of exports already made under the Advance Authorization Scheme. This amendment is expected to benefit exporters by streamlining the process of levying Composition Fee and ensuring a level playing field for all exporters. See Public Notice No. 59/2015-2020-dated-28.02.2023