Capital Goods Imported under EPCG Scheme and kept in the Customs Bond and the EPCG Licence cancelled before clearance of Goods - Clarification - Regarding

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.... Board of Excise & Customs, New Delhi Subject : Capital Goods Imported under EPCG Scheme and kept in the Customs Bond and the EPCG Licence cancelled before clearance of Goods - Clarification - Regarding. It has come to the notice of the Board that in a particular case an importer had imported two consignments of weaving looms under the EPCG Scheme. The goods were kept in a Customs bonded war....

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....ot be held that the importer is liable to penal action for non-fulfilment of obligations under the said scheme. It is felt that as long as the goods are under Customs bond, it would be inappropriate to take a view that the importer has violated the conditions of the notification. Accordingly, it has been decided that, in a case where EPCG Licence is cancelled by DGFT as unutilised and the goods ar....