Amnesty Scheme For Exporters Introduced in New Foreign Trade Policy
NDTV
The Amnesty scheme shall be available for a limited period, up to September 30, 2023, as per the FTP which will be effective from April 1.
The new Foreign Trade Policy will introduce an amnesty scheme for exporters to help them close old pending authorisations and start afresh.
The Amnesty scheme shall be available for a limited period, up to September 30, 2023, as per the FTP which will be effective from April 1.
In line with "Vivaad se Vishwaas" initiative, which sought to settle tax disputes amicably, the government is introducing a special one-time Amnesty Scheme under the FTP 2023 to address default on Export Obligations, according to the commerce ministry.
The scheme is intended to provide relief to exporters who have been unable to meet their obligations under Export Promotion Credit Guarantee (EPCG) and Advance Authorisations, and who are burdened by high duty and interest costs associated with pending cases.