Duty exemption for capital goods under EPCG subject to export obligation and bond, default triggers duty plus interest. Exemption removes customs duty in excess of five percent and, if claimed, additional duty on capital goods, components and spares imported under a valid EPCG licence, subject to presentation of the licence, execution of a bond securing an export obligation fixed as a multiple of duty saved with block wise fulfilment periods, installation/use certification, and payment of proportional duty with interest where export obligations are not met; provisions for extensions, condonation, re export of defective goods, and waivers for force majeure are provided.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duty exemption for capital goods under EPCG subject to export obligation and bond, default triggers duty plus interest.
Exemption removes customs duty in excess of five percent and, if claimed, additional duty on capital goods, components and spares imported under a valid EPCG licence, subject to presentation of the licence, execution of a bond securing an export obligation fixed as a multiple of duty saved with block wise fulfilment periods, installation/use certification, and payment of proportional duty with interest where export obligations are not met; provisions for extensions, condonation, re export of defective goods, and waivers for force majeure are provided.
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