Export obligation monitoring under EPCG scheme requires valuation at licence-issue exchange rate to determine fulfillment. Export obligations under the EPCG scheme shall be denominated in US dollars at the exchange rate prevailing on the date of issuance of the licence; the licensing authority shall endorse that exchange rate on the reverse of the licence. Export proceeds in any currency shall be converted into US dollars at the endorsed licence-issue rate to determine fulfillment, except where all imports and exports under the licence are in a single foreign currency, in which case that currency will be used. Existing licences must be examined under these parameters.
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.
Export obligation monitoring under EPCG scheme requires valuation at licence-issue exchange rate to determine fulfillment.
Export obligations under the EPCG scheme shall be denominated in US dollars at the exchange rate prevailing on the date of issuance of the licence; the licensing authority shall endorse that exchange rate on the reverse of the licence. Export proceeds in any currency shall be converted into US dollars at the endorsed licence-issue rate to determine fulfillment, except where all imports and exports under the licence are in a single foreign currency, in which case that currency will be used. Existing licences must be examined under these parameters.
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