Government proposes to amend export obligation period for various commodities

The government has proposed to amend the export obligation period for wheat, raw sugar, natural rubber, spices, pharmaceuticals and tea, among other sectors to facilitate their exports.

The government has sought comments of all the concerned stakeholders on the proposed amendments within 15 days. The government allows duty free import of inputs used for manufacturing goods only for exports purposes under an advanced authorisation scheme, subject to export obligation period. Under this period, exporters have to ship the goods within a stipulated time period, failing which attracts penalties.

The obligation period for spices would be extended to 12 months, coconut oil to 6 months from 90 days, silk in any form 12 months from 9 months and 6 months for Tea, wheat, raw sugar, maize and walnut. The obligation period for Natural rubber would be extended to 12 months.