Blockwise export obligations for high value EPCG licences restructured, with set off rules and limited extension/condonation by customs authorities. For licences with a CIF value not less than Rs.100 crores, the Export Obligation is restructured into a 12 year timeline in four blocks (first five years nil; next three years 15%; next two years 35%; final two years 50%), with excess exports in earlier blocks set off against later shortfalls. Licensing authorities may grant extensions of block wise, year wise or overall fulfilment periods up to two years and condone shortfalls up to five percent; however, overall period extension is not permitted for licences meeting the high value CIF threshold.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Blockwise export obligations for high value EPCG licences restructured, with set off rules and limited extension/condonation by customs authorities.
For licences with a CIF value not less than Rs.100 crores, the Export Obligation is restructured into a 12 year timeline in four blocks (first five years nil; next three years 15%; next two years 35%; final two years 50%), with excess exports in earlier blocks set off against later shortfalls. Licensing authorities may grant extensions of block wise, year wise or overall fulfilment periods up to two years and condone shortfalls up to five percent; however, overall period extension is not permitted for licences meeting the high value CIF threshold.
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