New Delhi, May 20 -- A senior government official has disclosed that the recently concluded one-time amnesty scheme for exporters who had previously failed to meet agreed-upon export obligations has yielded Rs 852 crore in revenue for the exchequer.
The scheme allowed 6,705 exporters to take advantage of reduced penalties and interest payments for unmet obligations under the Advanced Authorisation (AA) and Export Promotion Capital Goods (EPCG) schemes.
These initiatives permit duty-free imports of inputs and machinery for manufacturing, contingent upon future export commitments.
Ordinarily, when an exporter defaults on their export obligations, they are required to repay the government the full amount of duties initially waived. If th...