export obligation issue

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....xport obligation issue<br> Query (Issue) Started By: - harkirat singh Dated:- 27-3-2014 Last Reply Date:- 27-3-2014 Customs - Exim - SEZ<br>Got 2 Replies<br>Customs<br>Dear Sir, We have imported Off Set Printing machine under EPCG. But we are not exporting printed items. Kindly advice how to complete export obligation. Kindly suggest a way out. Regards Harkirat Singh Reply By Pradeep Khatri....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....: The Reply: Dear Harkirat, Import of capital goods under EPCG scheme without having any export projections or not exporting any goods for fulfilling the export obligation would certainly attract the Revenue Department attention. If you cannot fulfill the export obligation then in our opinion it would be better to pay the duty along with interest without loosing any further time. If export is n....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ot possible then deemed exports as specified in paragraph 8.2 (a), (b), (d), (f), (g) & (j) of FTP shall also be counted towards fulfillment of export obligation, along with usual benefits available under paragraph 8.3 of FTP. For details please check chapter 5 of the FTP read with HBP Vol.1 in this regard. Regards, Team YAGAY & SUN (Indirect Tax Consultants) Reply By Naveed S: The Reply: Sh....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ipments under Advance Authorization, DFRC, DFIA, or Drawback scheme, or incentive schemes under Chapter 3 of FTP; would also count for fulfilment of EO under EPCG Scheme. However, if export obligation cannot be fulfilled, then pay up the duty and interest thereon immediately, as already explained above.<br> Discussion Forum - Knowledge Sharing ....