Export obligation extensions and compliance rules govern duty exempt capital goods imports and EO fulfilment procedures. The EPCG Scheme grants duty exemption on imported capital goods against an export obligation, requiring nexus certification by an independent Chartered ... Summary
Export obligation extensions and compliance rules govern duty exempt capital goods imports and EO fulfilment procedures.
The EPCG Scheme grants duty exemption on imported capital goods against an export obligation, requiring nexus certification by an independent Chartered Engineer, timely installation certification to the Regional Authority, and maintenance of prescribed records. Export obligation may be fulfilled directly or via third parties with documentary proof and realization through normal banking channels; block wise and average EO rules, sectoral exemptions, automatic extensions for bans, and relief measures for export decline are provided. Non compliance attracts duty recovery, interest, penalties and regularisation options including payment or utilisation of duty credit scrips.
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