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Customs - Highlights / Catch Notes

Home Highlights March 2024 Year 2024 This

The recent Public Notice No. 04/2024, in line with Notification ...

Customs

March 20, 2024

The recent Public Notice No. 04/2024, in line with Notification No.32/2023-Customs and Circular No. 11/2023-Customs, introduces an Amnesty Scheme for a one-time settlement of default in export obligation by Advance License and Export Promotion Capital Goods (EPCG) authorization holders. - By offering a one-time settlement option with capped interest, the scheme incentivizes regularization while maintaining accountability for fraudulent activities. However, strict adherence to the specified timelines and conditions is essential to benefit from the scheme's provisions and avoid potential consequences.

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