Import evidence requirement tightened in EPCG imports, and interest liability on defaults clarified for customs compliance. Amendment to the EPCG import exemption notification omits condition (2), replaces the requirement of 'a certificate from the Licensing Authority' with 'evidence to the satisfaction of the Assistant Commissioner of Customs', and adds an express interest liability at the end of conditions (4) and (5), with interest accruing from the date of clearance of the goods.
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Import evidence requirement tightened in EPCG imports, and interest liability on defaults clarified for customs compliance.
Amendment to the EPCG import exemption notification omits condition (2), replaces the requirement of "a certificate from the Licensing Authority" with "evidence to the satisfaction of the Assistant Commissioner of Customs", and adds an express interest liability at the end of conditions (4) and (5), with interest accruing from the date of clearance of the goods.
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