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of <h1>Importer Avoids Penalties by Switching from EPCG to EOU Scheme; Goods Stored in Bonded Warehouse Remain Compliant.</h1> An importer who brought weaving looms under the EPCG Scheme stored them in a Customs bonded warehouse and later switched to the EOU Scheme, obtaining necessary approvals and canceling the EPCG Licences as unutilized. It was clarified that since the goods were not cleared under the EPCG Scheme, the importer is not liable for penalties for non-fulfillment of obligations. As long as the goods remain under Customs bond, they can be ex-bonded like normal goods, provided the conditions of the intended scheme are met. This decision should be widely publicized, and any implementation difficulties should be reported to the Board.
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