DUTY PAYABLE ON REMOVAL OF CAPITAL GOODS FROM EOU UNIT

[RAMNIRANJAN KANDOI]

01) We recd. 1 Imported Machine under EPCG License . We have fulfilled our obligation .

We have given application for redemption application to DGFT but the same is not cleared so far .

What procedure should be done for removing of the machine .

02) We are having an EOU unit .We hv recd. Imported Machine without payment of any duty .

Now after two years of the receipt of the machine , we would like to remove the same

kindly guide about payment of duty

AI Summary

Duty on removal of capital goods requires DGFT redemption and payment of duty forgone on depreciated value.
Redemption from DGFT or a No Bond Certificate must be obtained before disposing of capital goods imported under an EPCG licence; capital goods removed from an EOU require payment of duty forgone calculated on the depreciated value in accordance with the relevant EOU notification.