Streamlined Compliance Procedures for Export Authorization: Amendments to Handbook of Procedures 2023.
23 August 2024
The Director General of Foreign Trade has updated Chapter 4, Paragraph 4.49(g) of the Handbook of Procedures, 2023 to ease compliance and improve business processes. The revisions, effective immediately, are as follows:
1. Paragraph 4.49(g)(i): The requirement for an affidavit-cum-indemnity bond for destruction of unutilized imported materials has been simplified. The provision now allows for the submission of a self-declaration and a Chartered Accountant’s certificate confirming destruction, along with an affidavit or proof of re-export, but without the need to re-export to the original supplier.
2. Paragraph 4.49(g)(ii): Exports made under any shipping bills after the Export Obligation period can now replace the destruction certificate requirement if the drugs' descriptions match those in the Advance Authorisation. However, customs duty and interest on unutilized quantities must still be paid. This change simplifies the process by including all types of shipping bills for the waiver and eliminating the need to re-export to the same supplier.
These amendments aim to reduce the compliance burden and enhance the ease of doing business.