Dear Sir,
we took the EPCG License for some value, unfortunately because of the fluctuation in the exchange rates the actual value of the shipment got increased and because of that we are unable to clear the shipment from the customs. Now please help / advise us the Circular /Notification for the extension of the value. I guess it can be done from 5% to 10% on the existing License Value.
Guidance Sought on Extending EPCG License Value Due to High Shipment Costs; Refer to Para 5.16 HBP FTP 2015-20. A participant in a discussion forum sought advice on extending the value of an EPCG License due to increased shipment costs caused by exchange rate fluctuations. They were unable to clear the shipment through customs and inquired about any circular or notification allowing a 5% to 10% extension on the existing license value. A respondent advised referring to point (2) & (b) of para 5.16 of the HBP FTP 2015-20, which mentions automatic adjustments of up to 10% of the duty saved amount and pro rata reduction. (AI Summary)
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