EPCG Authorisation Redemption

[satish padhiyar]

Dear Sir,

Kindly guide me for procedure of Redemption of EPCG Authorisation.

Condition as per Authorisation:

Average: Last previous year 0.00 (As new Started for Export)

However We have imported Machinery.

Completed 50% Export Done as 3 times of Duty Saved Amount.

My Query: We can Submit 50% Export done and

50% Pending Amount of Duty Saved - We wish to pay duty + interest.

Or fully duty with interest paid.

Mo:8141607228.

[Venkataprasad Pasupuleti]

Dear sir,

Your query is not clear. Are you saying that 50% Export obligation is fulfilled and wanted to pay 50% of duty saved along with interest? Can you elaborate your question

[satish padhiyar]

yes sir

[YAGAY andSUN]

In our view, you can pay duty and interest if you predict that EO cannot be fulfilled by you as specified in the EPCG License. Please check chapter 5 of FTP read with HBP Vol. 1.

AI Summary

EPCG authorisation redemption: export obligation may be discharged by paying duty saved plus interest under FTP guidance. EPCG authorisation redemption permits an exporter who cannot fulfil the remaining export obligation to discharge that obligation by payment of the duty saved together with applicable interest; this compliance option should be considered under Chapter 5 of the Foreign Trade Policy read with the Handbook of Procedures Vol. I, and factual clarification is advised before applying the procedure.