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Drug Manufacturing Licence requirement relaxed: not insisted for EPCG issuance; licence due within three years or guarantees forfeited. DGFT removes the requirement to insist on a Drug Manufacturing Licence at EPCG issuance and abolishes the prior need for a 100% Bank Guarantee in lieu of that licence. Instead, pharmaceutical units must submit a copy of the Drug Manufacturing Licence to the Regional Authority within three years of EPCG issue; failure to do so will result in forfeiture/invocation of any Bank Guarantee or Legal Undertaking furnished and liability to pay the customs duty saved amount with interest.
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Drug Manufacturing Licence requirement relaxed: not insisted for EPCG issuance; licence due within three years or guarantees forfeited.
DGFT removes the requirement to insist on a Drug Manufacturing Licence at EPCG issuance and abolishes the prior need for a 100% Bank Guarantee in lieu of that licence. Instead, pharmaceutical units must submit a copy of the Drug Manufacturing Licence to the Regional Authority within three years of EPCG issue; failure to do so will result in forfeiture/invocation of any Bank Guarantee or Legal Undertaking furnished and liability to pay the customs duty saved amount with interest.
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