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of <h1>Government Exempts Certain Imported Components from Customs Duties Under EPCG Scheme, Reduces Duty to 15% with Conditions</h1> The Central Government, under the Customs Act, 1962, exempts certain imported components used in manufacturing capital goods from customs duties, provided they are supplied to a person holding a licence under the Export Promotion Capital Goods (EPCG) Scheme. The exemption reduces customs duty to 15% ad valorem and waives additional duties, subject to conditions. These include importing under a specified licence, adhering to import policy requirements, and executing a bond to ensure compliance. The importer must maintain records and provide certification of goods supplied, with penalties for non-compliance. Capital goods include machinery and equipment necessary for manufacturing and related activities.
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