Dear Expert,
We issued one EPCG licence on April 2016. Average EO for last three year is calculated as 165 Cr., Specific EO is 30 Lac.Machinery importer and installed, installation certificate submitted to Jt.DGFT office , there after we fulfilled the Specific EO in this month, Average EO full filled till date is 103 Cr.
Being the average EO will be completed till March 2017, Should we apply for its redemption to Jt.DGFt or wait till march and apply for redemption after fulfillment of average EO.
Please suggest.
EPCG License: Fulfillment of Export Obligations Discussed; Query on Redemption Timing and Average EO Compliance. A discussion on an EPCG license issued in April 2016 involves queries about fulfilling Export Obligations (EO). The average EO for three years is 165 Cr., and the specific EO is 30 Lac. The machinery was imported, installed, and the certificate submitted. The specific EO was fulfilled, and the average EO reached 103 Cr. The query seeks advice on whether to apply for redemption now or wait until March 2017. Responses suggest redeeming after fulfilling obligations, consulting with JDGFT, and acknowledging that average EO is annual and may not be completed until March. (AI Summary)
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