Export obligation schedule under EPCG modified; phased fulfilment, set off rules, digital filing and proportionate duty remedy. Amendments require the RA to issue EPCG authorisation based on a nexus certificate from an independent Chartered Engineer and forward a copy to the Jurisdictional Central Excise Authority. Installation of capital goods must be certified to the RA by the Central Excise Authority within six months (three years for spares); non excise units may submit an independent Chartered Engineer's certificate. Export obligations are restructured into two phased blocks with 50% to be met in each block (and a separate 12 year phased schedule for high value cases); set off of excess exports between blocks is allowed, electronic filing with digital signatures is required, and proportionate customs duty with interest is payable for unfulfilled blocks.
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Export obligation schedule under EPCG modified; phased fulfilment, set off rules, digital filing and proportionate duty remedy.
Amendments require the RA to issue EPCG authorisation based on a nexus certificate from an independent Chartered Engineer and forward a copy to the Jurisdictional Central Excise Authority. Installation of capital goods must be certified to the RA by the Central Excise Authority within six months (three years for spares); non excise units may submit an independent Chartered Engineer's certificate. Export obligations are restructured into two phased blocks with 50% to be met in each block (and a separate 12 year phased schedule for high value cases); set off of excess exports between blocks is allowed, electronic filing with digital signatures is required, and proportionate customs duty with interest is payable for unfulfilled blocks.
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