Circular No. 5/97 Cus dated 14.03.97. Notfns. No.28/97 Cus & No. 29/97 Cus, both dated 01.04.97 and No. 110/95 Cus & No.111/95.

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.... Notification No. of Export and Import Policy (EXIM POLICY) 1997 - 2002 announced on 13.4.98 also some changes have been made in the existing EPCG Scheme. The effects of these changes are explained in Board's Circular No. 31/98-Cus. dated 5.5./98 Customs Notification No. 8/98-Cus. and 9/98 -Cus. both dated 23.4.98 may also be referred in this regard. As a result it has become necessary to make amendment in Board's Circular No. 5/97-Cus. dated 14.2.97 so as to incorporate system of monitoring export obligation under 15% (now 10%) and Zero Duty EPCG Scheme as outlined in Customs Notification No. 110/95-Cus., 111/95- Cus., 28/97-Cus. and 29/97-Cus. Accordingly, the following amendments are made in the Board's Circular No. 5/97-Cus.....

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.... 4.  - " - Rs.   *4  50% -  Rs. -  4. - 5. 40% -  Rs.  5.  - " - Rs.       *  In case of Electronics / Food Processing etc. and software Sectors, Export Obligation for First, Second and Third Block in 15%, 35% and 50% respectively. 2.5 Annexure IV to the Circular shall be substituted by the new Annexure IV annexed to this Circular. 3. In the revised EXIM Policy issued on 13.4.98, Para 6.10 which provided for filing of bonds and / or bank guarantee under EPCG Scheme has been deleted. As a result an impression is created that henceforth on bond or bank guarantee may required to be filed under EPCG Scheme which is not correct. In this regard attention is in....

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....s House Agent) have failed to achieve the pro rata % of export obligation prescribed under Notification No. 110/ 95- Cus./ 111/ 95-Cus., 28/97-Cus., 29/97-Cus and therefore the pro rata duty foregone on the goods imported becomes recoverable as per condition 4 to Notification No. 110/ 95-Cus. / condition 4 to Notification No. 111/ 95- Cus./ condition No. 3 to Notification No. 28/ 97-Cus. / condition No. 3 to Notification No. 29/97-Cus. and, therefore, they are hereby called upon to show cause to the Asstt. Commissioner of Customs, GP, Customs House, as to why the said duty amounting to Rs............ shall not be confirmed and collected from them within 10 days from the date of receipt of this notice, failing which the case shall be decided....

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....95- Cus., 29/97-Cus. for a minimum value of Rs. 20 crores or Rs. 1 crores or Rs. 10 lakhs as provided in condition (2) to Notification No. 29/97- Cus. within the validity period of the EPCG Licence No. ................ dt. .................. issued to the said licence holder by the Licensing Authority and, therefore, as per condition 6 to Notification No. 111/95 Cus. or condition 5 to Notification No. 29/97- Cus., the entire duty foregone has become recoverable. They are hereby called upon to show cause to the Asstt. Commissioner of Customs, GP ______, Customs House, as to why the said amount should not be confirmed and recovered within 10 days from the date of receipt of this notice with all evidences in original upon which they wish to re....