Monitoring of EPCG export obligations updated to cover multiple duty bands; bonds remain required and show cause procedure standardized. Amendments to Board Circular No. 5/97 Cus. expand monitoring procedures for the EPCG Scheme to cover 15%, 10% and Zero duty variants, update annexures to prescribe year/block pro rata export achievement schedules and proportionate FOB reporting, and substitute Annexure IV with standardized show cause and final notice formats for recovery of duty foregone. The circular reiterates that bonds/bank guarantees remain required under existing Notifications despite EXIM Policy textual deletions, and directs Customs Houses to issue standing orders and maintain monthly and quarterly supervisory records for enforcement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Monitoring of EPCG export obligations updated to cover multiple duty bands; bonds remain required and show cause procedure standardized.
Amendments to Board Circular No. 5/97 Cus. expand monitoring procedures for the EPCG Scheme to cover 15%, 10% and Zero duty variants, update annexures to prescribe year/block pro rata export achievement schedules and proportionate FOB reporting, and substitute Annexure IV with standardized show cause and final notice formats for recovery of duty foregone. The circular reiterates that bonds/bank guarantees remain required under existing Notifications despite EXIM Policy textual deletions, and directs Customs Houses to issue standing orders and maintain monthly and quarterly supervisory records for enforcement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
