Export obligation-epcg
This query is : Resolved
12 March 2013
I am exporting yarn to nepal for last three years.But i dont know how to fulfill the export obligation,But now it is very urgency. DGFT asking the installation certificate and the BRC COPY.We are exporting goods in indian rupees. We have no BRC COPIES. Then how we can fulfill the export obligation under EPCG SCHEEME
12 March 2013
Export Promotion Capital Goods Scheme for the period 2009-2014 (updated as on 23.08.2010) has been announced in the Foreign Trade Policy. This Scheme allows the import of New & Secondhand Capital Goods, as well as computer software systems at concessional rate of Custom Duty by undertaking export obligation by the Exporters.
A) ZERO DUTY EPCG Scheme
Government has announced Zero Duty EPCG Scheme for certain product groups. This Scheme will be in force till 31.03.2012.
This Scheme is applicable to Sectors of :
1) Engineering. 2) Electronic Product 3) Basic Chemicals & Pharmaceuticals
4) Apparel & Textiles 5) Plastic 6) Handcraft 7) Chemical & Allied Products
8) Leather & Leather Products 9) Paper & Paperboard and articles thereot 10) Ceramic Products
11) Refactories 12) Glass & Glass ware 13) Rubber & articles thereot
14) Plywood & allied products 15) Marine Products 16) Sports goods & toys.
0% Duty Export Obligation on Duty Saved Amount 6 times in 6 Years.
FLEXIBILITY IN IMPORT OF SPARES
There is a flexibility to import Spares, Moulds, Dies, Jigs, Fixtures & Tools etc. at 50% E.O. than regular export obligation, subject to the condition that CIF value of the above should not increase more than 10% CIF value of import machinery and 10% of indigenous machinery (Book value.)
REQUIREMENT OF SPARES MORE THAN ABOVE FLEXIBILITY
If the above value is not sufficient for import of Spares, manufacturer can apply for their regular requirement of spares as per regular EPCG licence provisions.
B) 3% Duty EPCG Scheme
This Scheme is for all products other than those in ‘0’ Duty Scheme.
3.0% of CIF Value* 8 Times 8 Years
SSI Unit – Upto CIF Value Rs. 50 Lakhs 6 Times 8 Years
Agro Unit / Cottage or Tiny Sector 6 Times 12 Years
If duty saved is more than Rs. 100 Crores E:0. Period 12 Years
FAST TRACK EXPORTER
Authorisations issued on or after 01.04.2001 and in cases where the exporter has fulfilled 75% or more of Export Obligation (including average level of exports) in half or less than half the original Export Obligation period, the remaining Export Obligation shall be condoned and the case will be redeemed.
Follow LINK:
https://www.caclubindia.com/experts/epcg-licence-358240.asp#.UT8Q0jf7crc
A) ZERO DUTY EPCG Scheme
Government has announced Zero Duty EPCG Scheme for certain product groups. This Scheme will be in force till 31.03.2012.
This Scheme is applicable to Sectors of :
1) Engineering. 2) Electronic Product 3) Basic Chemicals & Pharmaceuticals
4) Apparel & Textiles 5) Plastic 6) Handcraft 7) Chemical & Allied Products
8) Leather & Leather Products 9) Paper & Paperboard and articles thereot 10) Ceramic Products
11) Refactories 12) Glass & Glass ware 13) Rubber & articles thereot
14) Plywood & allied products 15) Marine Products 16) Sports goods & toys.
0% Duty Export Obligation on Duty Saved Amount 6 times in 6 Years.
FLEXIBILITY IN IMPORT OF SPARES
There is a flexibility to import Spares, Moulds, Dies, Jigs, Fixtures & Tools etc. at 50% E.O. than regular export obligation, subject to the condition that CIF value of the above should not increase more than 10% CIF value of import machinery and 10% of indigenous machinery (Book value.)
REQUIREMENT OF SPARES MORE THAN ABOVE FLEXIBILITY
If the above value is not sufficient for import of Spares, manufacturer can apply for their regular requirement of spares as per regular EPCG licence provisions.
B) 3% Duty EPCG Scheme
This Scheme is for all products other than those in ‘0’ Duty Scheme.
3.0% of CIF Value* 8 Times 8 Years
SSI Unit – Upto CIF Value Rs. 50 Lakhs 6 Times 8 Years
Agro Unit / Cottage or Tiny Sector 6 Times 12 Years
If duty saved is more than Rs. 100 Crores E:0. Period 12 Years
FAST TRACK EXPORTER
Authorisations issued on or after 01.04.2001 and in cases where the exporter has fulfilled 75% or more of Export Obligation (including average level of exports) in half or less than half the original Export Obligation period, the remaining Export Obligation shall be condoned and the case will be redeemed.
Follow LINK:
https://www.caclubindia.com/experts/epcg-licence-358240.asp#.UT8Q0jf7crc
12 March 2013
Dear Sir,
I am importing the machinary under EPCG.nOW I NEED TO FULFILL THE EXPORT OBLIGATION. I AM EXPORTING GOODS TO NEPAL, ALL EXPORT PROCEDURES IN INDIAN CURRENCY,fUNDS RECEIVED FROM NEPAL IN INDIAN CURRENCY. I HAVE NO BRC,FIRC.SIR,HOW CAN I FULFILL THE EXPORT OBLIGATION WITHOUT THESE DOCUMENTS WHEN EXPORTING TO NEPAL
I am importing the machinary under EPCG.nOW I NEED TO FULFILL THE EXPORT OBLIGATION. I AM EXPORTING GOODS TO NEPAL, ALL EXPORT PROCEDURES IN INDIAN CURRENCY,fUNDS RECEIVED FROM NEPAL IN INDIAN CURRENCY. I HAVE NO BRC,FIRC.SIR,HOW CAN I FULFILL THE EXPORT OBLIGATION WITHOUT THESE DOCUMENTS WHEN EXPORTING TO NEPAL
12 March 2013
YOU IMPORT THE CG UNDER THIS SCHEME AND COULD NOT PRODUCE THE INSTALLATION CERTIFICATE AS WELL AS Shipping bill & FIRC IN DGFT OFFICE NOW you will be penalised under Section 11 of FTDR Act, among other things, provides the penalties payable for contravention of the provision of this Act or the export and import policy.
12 March 2013
Dear sir,
Now I am ready to submit the installation certificate. But when exporting to NEPAL,I am not getting any BRC FROM BANK AND FIRC. EXPORT PROCEDURES IN INDIAN RUPEES. With out BRC CAN I FULFILL THE EXPORT OBLIGATION.
Now I am ready to submit the installation certificate. But when exporting to NEPAL,I am not getting any BRC FROM BANK AND FIRC. EXPORT PROCEDURES IN INDIAN RUPEES. With out BRC CAN I FULFILL THE EXPORT OBLIGATION.
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