EPCG scheme monitoring strengthened requiring uniform licence registers, bond interest on defaults, and regular supervisory checks. Customs must adopt uniform registers and monitoring formats for the Export Promotion Capital Goods (EPCG) Scheme, record bond and bank guarantee details on Release Advices, use prescribed time-diary and show-cause templates to track defaults, and amend bond language to make licence-holders liable for bond sums plus interest under relevant notifications; standing orders implementing these measures must be issued and registers supervised monthly and quarterly by designated officers.
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EPCG scheme monitoring strengthened requiring uniform licence registers, bond interest on defaults, and regular supervisory checks.
Customs must adopt uniform registers and monitoring formats for the Export Promotion Capital Goods (EPCG) Scheme, record bond and bank guarantee details on Release Advices, use prescribed time-diary and show-cause templates to track defaults, and amend bond language to make licence-holders liable for bond sums plus interest under relevant notifications; standing orders implementing these measures must be issued and registers supervised monthly and quarterly by designated officers.
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