Export obligation under epcg scheme
This query is : Resolved
14 January 2014
Hello Sir,
i want to know about 2 querries.
1) one assesse has taken EPCG scheme for imported machine, in which export obligation was 8 times of duty saved. But due to lack of orders, assesse was not able to fulfill complete exports obligation and time limit expires on 01.09.2012. After expiry of limit, no action was takne by assesse for extension or payment woth interest of duty saved. Therefore Plz suggest any way to coming out of this violation at maximum reduced cost or any way to furhter extension of time for fulfill exports obligation?
2) Can assesse take benefit of EPCG scheme for import of second hand machine. if yes , either there are any special conditions or provisions for this scheme?
Plz advice , its urgent..
i want to know about 2 querries.
1) one assesse has taken EPCG scheme for imported machine, in which export obligation was 8 times of duty saved. But due to lack of orders, assesse was not able to fulfill complete exports obligation and time limit expires on 01.09.2012. After expiry of limit, no action was takne by assesse for extension or payment woth interest of duty saved. Therefore Plz suggest any way to coming out of this violation at maximum reduced cost or any way to furhter extension of time for fulfill exports obligation?
2) Can assesse take benefit of EPCG scheme for import of second hand machine. if yes , either there are any special conditions or provisions for this scheme?
Plz advice , its urgent..
15 January 2014
Mr. Rakesh Garg ji,
the epcg licence holder must submit the application for the extension in HEAD QUARTER DELHI.
2}yes admisssible.
if you assigned for this work we can 100% extension from head quarters
There is a provision for Extension of Export Obligation Period.
ramesh kumar verma
the epcg licence holder must submit the application for the extension in HEAD QUARTER DELHI.
2}yes admisssible.
if you assigned for this work we can 100% extension from head quarters
There is a provision for Extension of Export Obligation Period.
ramesh kumar verma
Message likes :
1 times
18 January 2014
Thanks a lot Ramesh Kumar ji..
i will discuss it regarding assignment wid management and revert you accordingly.
i have still one more query.
an assesse has issued one EPCG license on dated 30.04.12 agsinst imported machine.Machine has installed witn in 2 months actually, but in balance sheet of 31.03.13 ,its still stands as capital in progress. Installation certificate still not taken from excise dept, even almost 1.8 years elapsed. EPCG dept has issued notice for producing installtion certificate with in 7 days. presently documents are ready for installtion cert. now how to handle it. can you take assignmentalso for this matter.
i will discuss it regarding assignment wid management and revert you accordingly.
i have still one more query.
an assesse has issued one EPCG license on dated 30.04.12 agsinst imported machine.Machine has installed witn in 2 months actually, but in balance sheet of 31.03.13 ,its still stands as capital in progress. Installation certificate still not taken from excise dept, even almost 1.8 years elapsed. EPCG dept has issued notice for producing installtion certificate with in 7 days. presently documents are ready for installtion cert. now how to handle it. can you take assignmentalso for this matter.
18 January 2014
sir,
installation certificate must be submitted in RJDGFT/ CUSTOM within 6 month from the 1st import bill of entry.
you ist condition is
*******************
just submit a letter addressed to CHAIRMAN,PRC COMMITTEE, UDYOG BHAWAN NEW DELHI FOR Condonation for delay in installation of Capital goods.
2nd condition as well as copy of letter submit in chairman prc,copy of acknowledgement submit in aarjdgft too
P.R Committee observed YOUR MATTER & provide the relaxations in this scenario .
but in the era of corruption your case will be rejected..... but Department does not reject this case when you assigned this case 2 us.
Note Problem us : you can also approach....
regards,
installation certificate must be submitted in RJDGFT/ CUSTOM within 6 month from the 1st import bill of entry.
you ist condition is
*******************
just submit a letter addressed to CHAIRMAN,PRC COMMITTEE, UDYOG BHAWAN NEW DELHI FOR Condonation for delay in installation of Capital goods.
2nd condition as well as copy of letter submit in chairman prc,copy of acknowledgement submit in aarjdgft too
P.R Committee observed YOUR MATTER & provide the relaxations in this scenario .
but in the era of corruption your case will be rejected..... but Department does not reject this case when you assigned this case 2 us.
Note Problem us : you can also approach....
regards,
Message likes :
1 times
18 January 2014
Thanks u very much Ramesh ji...
i ll confirm after discussion.
i ll confirm after discussion.
18 January 2014
thanks for post query in CA CLUB INDIA.
RK VERMA
RK VERMA
18 January 2014
before submit the letter a copy of write up send me for checking purpose.
ramesh.arti@sify.com
ramesh.arti@sify.com
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