Capital Goods Confiscated for Unmet Export Duties, Automatic Two-Year Extension Implied by EPCG Committee Decision.

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....Confiscation of goods - capital goods imported as per EPCG licenses - non-fulfilment of Export obligation - When there is no specific mention of such event in the decision of EPCG Committee, the extension has to be construed as intended in the decision itself, which is nothing but extension of time by two years to fulfil their export obligation. - - AT....