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K.R. Srivats

New Delhi , April 23

From May 1, the exporting community would have to compulsorily remit all licence fee payments only through the electronic fund transfer (EFT) mode.

The Government had earlier given exporters an option to remit licence fee through demand drafts. The option, however, expired on March 31 this year. This facility was granted in the wake of representation from trade and industry that the procedure for opening EFT accounts with the DGFT designated banks was time-consuming.

Apart from the mandatory EFT payment norm, the DGFT has also decided that all applications for advance licences, export promotion capital goods licence, duty entitlement passbook licences and the newly introduced Duty Free Import Authorisation scheme would have to be submitted with digital signatures.

More Stories on : Exports & Imports | E-Governance

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