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EPCG licence validity aligned with export obligation period, requiring co terminus endorsement, affecting import of spares under export policy. Amendments reallocate security and documentation: eligible large exporters and designated houses must furnish a Legal Undertaking; other manufacturers must post a bond with bank guarantee for 25% of excise duty saved; merchant exporters (excluding specified categories) must post a bond with bank guarantee for 100% of excise duty saved on indigenous procurements in lieu of imports. EPCG licence validity for spares is made co terminus with the export obligation period and must be endorsed on the licence; deemed export benefits are conditioned on certification, procurement under international competitive bidding or specified customs notifications, with restricted benefit categories for domestic suppliers.
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Provisions expressly mentioned in the judgment/order text.
EPCG licence validity aligned with export obligation period, requiring co terminus endorsement, affecting import of spares under export policy.
Amendments reallocate security and documentation: eligible large exporters and designated houses must furnish a Legal Undertaking; other manufacturers must post a bond with bank guarantee for 25% of excise duty saved; merchant exporters (excluding specified categories) must post a bond with bank guarantee for 100% of excise duty saved on indigenous procurements in lieu of imports. EPCG licence validity for spares is made co terminus with the export obligation period and must be endorsed on the licence; deemed export benefits are conditioned on certification, procurement under international competitive bidding or specified customs notifications, with restricted benefit categories for domestic suppliers.
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