Page 40 - GSTL_14th May 2020_Vol 36_Part 2

J40 GST LAW TIMES [ Vol. 36

RELAXATIONS/EXTENSIONS OF COMPLIANCE DEADLINES ANNOUNCED
RELAXATIONS/EXTENSIONS OF COMPLI-
ANCE DEADLINES ANNOUNCED BY THE
DEPARTMENT OF COMMERCE IN VIEW
OF COVID-19 PANDEMIC
RELAXATIONS/EXTENSIONS OF COMPLIANCE DEADLINES ANNOUNCED
By
Ramesh Chandra Jena, B.A. (Hons.), M.A. (Eco.),
D.M.M., LL.B.
ADVOCATE & TAX CONSULTANT

In order to give relief to the taxpayers/business
communities and affected individuals amidst the stress caused by the novel
coronavirus pandemic, Department of Commerce, Ministry of Commerce and
Industry through Press Release on 11th April, 2020 has announced several relax-
ations and extensions in deadlines etc. with regard to compliances mandated
under its schemes and activities. The key relaxations pertaining to the Depart-
ment of Commerce are as follows :
(A) Facilitation under Foreign Trade Policy (FTP), 2015-20 by DGFT : -
summarised as under :
(1) Extension of FTP beyond 31st March, 2020 : The Foreign
Trade Policy (FTP), 2015-2020 and Handbook of Procedures
(HBP) which was valid till 31st March, 2020, have been ex-
tended by one year till 31st March, 2021.
(2) Advance Authorizations and EPCG Authorizations : Exten-
sion of Export Obligation Period etc.
(i) In respect of those Advance Authorizations and
EPCG Authorizations wherein the extended Export
Obligation Period has either expired or is expiring
between 1st February, 2020 to 31st July, 2020, the Ex-
port Obligation Period has been extended for further
six months from the date of expiry.
(ii) In respect of those Advance Authorizations and
EPCG Authorizations wherein the import validity
period has either expired or is expiring between 1st
February, 2020 to 31st July, 2020, the import validity
period has been extended for further six months from
the date of expiry.
(iii) In respect of those EPCG Authorizations wherein
Block period to fulfil the Block-wise export obligation
has either expired or is expiring between 1st Febru-
ary, 2020 to 31st July, 2020, the Block period has been
extended for further six months from the date of ex-
piry.
(iv) In respect of those EPCG Authorizations wherein the
time period to produce the Installation Certificate be-
fore the RA concerned has either expired or is expir-
GST LAW TIMES  14th May 2020  40