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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>EPCG Scheme Update: Export Obligations, Duty Categories, Bonds, and Enforcement Procedures Revised</h1> The circular amends a prior directive concerning the monitoring of export obligations under the Export Promotion Capital Goods (EPCG) Scheme, incorporating provisions for 15%, 10%, and zero duty categories as per various customs notifications. It updates procedural requirements, including export obligation schedules and documentation, and clarifies that the filing of bonds or bank guarantees remains mandatory despite policy changes. The circular mandates customs authorities to issue standing orders reflecting these amendments and emphasizes rigorous monthly and quarterly supervision. It also provides standardized show cause notices for license holders and authorized agents failing to meet export obligations or import capital goods as required, specifying recovery of duty foregone and procedural timelines. Final notices for non-submission of export discharge certificates are outlined, reinforcing enforcement measures under the EPCG Scheme.
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