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of <h1>Concessional 15% Duty on Capital Goods Imports Under EPCG Scheme; Export Obligations Apply, Penalties for Non-Compliance.</h1> The notification issued on June 5, 1995, under the Customs Act, 1962, provides a concessional duty rate of 15% for imports of capital goods, components, and spares under the Export Promotion Capital Goods (EPCG) scheme, as per the EXIM Policy 1997-2002. Importers must hold a valid license and fulfill export obligations equivalent to four times the CIF value of the imported goods within five years. Failure to meet these obligations results in penalties, including payment of the full customs duty and interest. The capital goods must be installed in the importer's premises, and extensions for fulfilling export obligations are limited.
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