EPCG self declaration option permits licence applications subject to nexus review and Customs duty plus interest liability. Paragraph 6.8B allows applicants to apply for EPCG licences on the basis of self declaration, subject to nexus fixation by the Headquarters EPCG Committee; applicants must undertake to pay Customs duty plus 24% interest if capital goods are disallowed. Public Notice amendments permit extension of export obligation periods where Bank Guarantees exceed the requested period by six months and provide that existing Bank Guarantees covering Customs duty plus 24% interest need not be replaced when proved to the licensing or Customs authorities.
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.
EPCG self declaration option permits licence applications subject to nexus review and Customs duty plus interest liability.
Paragraph 6.8B allows applicants to apply for EPCG licences on the basis of self declaration, subject to nexus fixation by the Headquarters EPCG Committee; applicants must undertake to pay Customs duty plus 24% interest if capital goods are disallowed. Public Notice amendments permit extension of export obligation periods where Bank Guarantees exceed the requested period by six months and provide that existing Bank Guarantees covering Customs duty plus 24% interest need not be replaced when proved to the licensing or Customs authorities.
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