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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to EPCG Scheme: Import Spare Parts License Validity Matches Export Obligation Fulfillment Period</h1> Notification No. 70/96-Cus, dated September 10, 1996, amends the earlier Notification No. 111/95-Cus under the EPCG Scheme. Exercising powers under section 25(1) of the Customs Act, 1962, the Central Government modifies the conditions of the original notification from June 5, 1993. The amendment introduces a proviso to condition (1), stating that for importing spare parts, the license validity period will match the duration allowed for fulfilling the export obligation in full. This change is deemed necessary in the public interest.
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