EXPORT OF GODDS IMPORTED UNDER EPCG SCHEME

[B C CHORDIA]

Dear Sir,

We have imported Gas Base Gen Set (capital goods) under EPCG Scheme in 2011 now due not viablity due increase in gas price these gen set lying ideal and we want to export to other country we have fulfilled 60% export obligation. now we ready to pay pro rata duty with interest for unfullfilled export obligation.

can we do the same if yes please briefly inform the procedure

AI Summary

Re-export of capital goods requires customs permission and payment of outstanding duties, with no entitlement to duty drawback.
Export of capital goods imported under the EPCG Scheme is permissible as re-export under Section 74 of the Customs Act subject to prior customs permission; the applicant must disclose import and partial export-obligation performance, submit documentary evidence, pay duties and interest for unfulfilled obligation, and accept that duty drawback will not be available, while customs may impose conditions to safeguard revenue.