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of <h1>Government Amends Notification for EPCG Scheme: Changes to Conditions (4) and (5), 24% Interest Included</h1> The Central Government has amended Notification No. 110/95-Customs, dated June 5, 1995, under the Customs Act, 1962, to facilitate imports under the Export Promotion Capital Goods (EPCG) scheme. The amendments include the removal of condition (2) and modifications to conditions (4) and (5). Condition (4) now requires evidence satisfactory to the Assistant Commissioner of Customs instead of a certificate from the Licensing Authority, and both conditions (4) and (5) now include a provision for interest at a rate of 24% per annum from the date of clearance of the goods.
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