I got an EPCG licence showing following export obligations:
(a) Average Export Obligation - USD 2295643.00
(b) Previous Export Obligation - USD 114470.05
(c) Additional Export Obligation - USD 849983.00
The licence has been issued to me on 2014 . till date I have exported - USD 1919837.00
whether I have fulfilled the EO?
Individual Seeks Guidance on Meeting 2014 EPCG License Export Obligations; Clarification on Calculation and Timeline Provided An individual inquired about fulfilling export obligations under an EPCG license issued in 2014, with specified obligations totaling USD 3,261,096.05. As of the query date, they had exported USD 1,919,837. A respondent advised calculating the export obligation as six times the duty saved through the EPCG license and achieving this within six years, in addition to maintaining average exports. The average exports should be the arithmetic mean of export performance for the preceding three licensing years for similar products. (AI Summary)
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