https://www.taxtmi.com/circulars?id=5427 DGFT removes the requirement to insist on a Drug Manufacturing Licence at EPCG issuance and abolishes the prior need for a 100% Bank Guarantee in lieu of that licence. Instead, pharmaceutical units must submit a copy of the Drug Manufacturing Licence to the Regional Authority within three years of EPCG issue; failure to do so will result in forfeiture/invocation of any Bank Guarantee or Legal Undertaking furnished and liability to pay the customs duty saved amount with interest. en-us Thu, 20 Nov 2008 00:00:00 +0530 Wed, 26 Nov 2008 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5427 DGFT removes the requirement to insist on a Drug Manufacturing Licence at EPCG issuance and abolishes the prior need for a 100% Bank Guarantee in lieu of that licence. Instead, pharmaceutical units must submit a copy of the Drug Manufacturing Licence to the Regional Authority within three years of EPCG issue; failure to do so will result in forfeiture/invocation of any Bank Guarantee or Legal Undertaking furnished and liability to pay the customs duty saved amount with interest. Circulars DGFT Thu, 20 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5427