Non filing of annual report under epcg scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2013 Dear Sir,
I shall be highly obliged if you help to resolve my following query;
As per FTP, annual return is to be file to the Jt DGFT for annual export under EPCG scheme.
If any person not submit annual report to the Jt DGFT but complete the export obligation with in given time under the license term.
Can DGFT wave the penalty procedure for non submission of annual return.
Thanks & Regards

Hemant Kumar

Hemant Kumar (Expert)
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17 July 2013 If There is condition laid down in your Condition sheet (attached with the EPCG Licence), Then you have to file annual return. You have completed export obligation under epcg scheme then you must have to Sent Application for Redemption of EPCG/Annual EPCG Authorization in Form ANF5B.
EPCG Authority will consider about penalty. Not to say clear cut about penalty waive. May be they will do so. For this you can contact your nearest DGFT office.