EPCG scheme amendment: off site installation permitted with joint bond and bank guarantee; increased concessional rate and expanded supply scope. The amendment permits capital goods imported under the EPCG scheme to be installed in another manufacturer's factory if that manufacturer is endorsed on the licence and the importer and manufacturer execute a bond for the full duty difference backed by a Bank Guarantee, binding them jointly and severally to fulfil the export obligation and other notification conditions and to pay duty with interest on default; it also increases the TABLE figure at serial 4, column (2), and expands clause (v) to include supplies under specified clauses of paragraph 121 of the Export and Import Policy.
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EPCG scheme amendment: off site installation permitted with joint bond and bank guarantee; increased concessional rate and expanded supply scope.
The amendment permits capital goods imported under the EPCG scheme to be installed in another manufacturer's factory if that manufacturer is endorsed on the licence and the importer and manufacturer execute a bond for the full duty difference backed by a Bank Guarantee, binding them jointly and severally to fulfil the export obligation and other notification conditions and to pay duty with interest on default; it also increases the TABLE figure at serial 4, column (2), and expands clause (v) to include supplies under specified clauses of paragraph 121 of the Export and Import Policy.
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