Submission of Installation Certificate under EPCG Scheme
The EPCG Scheme‘s main purpose is to provide capital goods that facilitate producing and selling of high-quality goods and services. Capital goods are necessary raw materials for the establishment of an industry. The Scheme allows for zero custom duty on imports of capital goods, such as machinery, that are...
What is EPCG Invalidation?
Hey, in our previous blogs, we discussed the EPCG scheme, and we generally take EPCG license to import Duty-free Capital goods (i.e. Machinery). Do you know Capital goods can also be procured indigenously (locally) under the EPCG scheme? Let’s see how to procure Machinery under the EPCG scheme locally:...
Regularization of Bonafide Default and Exit from EPCG Scheme
Exporters can import capital goods at zero duty under the EPCG plan in exchange for a six-year export obligation (EO) worth six times the duty saved. At least 50 percent of the EO must be completed during the first four years. The regulations allowing the exporter to apply for...
Amendments to Importer Exporter Code (IEC)
What is Importer Exporter Code (IEC)? IEC is mandatory for import to India or export from India as it has the business identification number. Import Export license is one of such pre-requisite when you think of importing or exporting from India which is also known as the Importer Exporter...
All you need to know about “IEC Deactivated”
Introduction Let’s start right from the beginning, for those who are unaware of the term IEC, let me tell you it stands for Importer Exporter Code. If you are someone who works in the field of import and export or is somewhat engaged in it by any chance,...
Amendments in Para 5.15, 5.16, 5.19A, 5.22 and 5.23 of Chapter 5 (EPCG Scheme) of the Hand Book of Procedures 2015-20
Introduction Today, we are going to ponder over the amendments that in chapter 5 of the “Exports Promotion Capital Goods” EPCG Scheme. You can give a quick read to the Para 5.15, 5.19A, 5.22 (a) and (b) of Chapter 5 in the EPCG Scheme of the Handbook of Procedures...
Amendments in Para 5.14 (c) and 5.17 (d) of Chapter 5 (EPCG Scheme) of the Hand Book of Procedures 2015-20
Introduction If you want to be a person who knows it all about the Exports Promotion Capital Goods (EPCG) Scheme especially if you want to learn how to reduce compliance burden and enhance the ease of doing business, then you must refer to the amendments present in chapter 5...
Exemption and Relief from Maintenance of Average Export Obligation
Introduction Hey, my friend today we will spill the beans on the Exemption from maintenance of average export obligation (AEO) and Relief in average export obligation (AEO). To get a better picture of the exemption and relief from maintenance of AEO, we will have to understand how to calculate...
Automatic EO extension in the event of a ban on the export product under EPCG Scheme
Introduction If you closely look at Para 5.20 of the Handbook of Procedures (HBP) 2015-20 you will obtain a crystal image of the Automatic export obligation extension in the event of a ban on the export product. Make sure that you are all able to get a good grip...
An Incentive for early EO fulfillment under EPCG Scheme
Introduction Under the Export Promotion Capital Goods (EPCG) Scheme, the authorisation holder shall be maintaining a proper record of the Specific export obligation and average export obligation. The authorization holder should fulfill’ s the specific export obligation over the prescribed block period in the following proportions: When we talk...