Amendments in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to Export Promotion Capital Goods Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business'

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r Paragraphs 1.03 and 2.04 of the Foreign Trade Policy, 2023, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendments in Chapter 5 of the HBP, 2023 with immediate effect.- S.No. Para No. Existing provision Revised provision 1 5.04(a) Authorisation holder shall produce, within six months from date of completion of import, to the concerned RA, a certificate from the jurisdictional Customs authority or an independent Chartered Engineer, at the option of the authorisation holder, confirming installation of capital goods at factory/premises of authorisation holder or his supporting manufacturer(s). The RA may allow one time extension of the said period for produci....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....authorization holder subject to production of fresh installation certificate to the RA concerned within six months of the shifting. 2 5.04(b) In the case of import of spares, the installation certificate shall be submitted by the Authorisation holder within a period of three years from the date of import. Deleted. 3 5.13(c) Request for extension of Export Obligation period of first block shall be submitted within 6 months from the date of expiry of first block EO period along with composition fee of 2% on duty saved amount proportionate to unfulfilled portion of EO pertaining to the block. RA may consider the request for extension of block wise EO period, received after 6 months, but within 6 years from date....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Composition fee to be levied (in Rupees) Up to Rs. 2 Crores 10,000 More than Rs. 2 Crores to 10 Crores 20,000 Above Rs. 10 Crores 30,000 Application made beyond 6 years, for extension of block-wise EO period for regularization purpose, shall also be considered by RA concerned, with composition fee as under :- Duty Saved value of EPCG Authorisation issued Composition fee to be levied (in Rupees) Up to Rs. 2 Crores 15,000 More than Rs. 2 Crores to 10 Crores 30,000 Above Rs. 10 Crores 45,000 No refund of earlier paid Composition Fee shall be admissible. Where EO of the first block is not ful....