TaxTMI 
TaxTMI 
Amendment in Notification Nos 111/95 , 29/97, 49/2000, 44/2002 in relation to EPCG scheme
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....f section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the erstwhile Ministry of Finance (Department of Revenue), specified in column (2) of the Table annexed hereto, shall be amended or further amended, as the case may be, in the ma....
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....ue not less than Rs. 100 crores." the words and figures "having overall export obligation period of 12 years." shall be substituted. 2 29/97-Customs, dated 1 st April, 1997. In the said notification, in paragraph 2,- (i) in condition (2), for the second proviso, the following provisos shall be substituted, namely:- "Provided further that where a sick unit notified by the Board for Industrial an....
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....ial and Financial Reconstruction (BIFR) is subsequently taken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license: Provided also that export obligation of a particular block may be set off by the excess exports made in the said preceding block (s)."; (ii) in condition (6), in the proviso, for the words and figures "....
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....ken over by another unit for revival, the export obligation may be fulfilled within a period of 12 years from the date of issue of license: Provided also that the export obligation of particular block may be set off against the excess exports made in the said preceding block (s);". (b) in condition (5), in the proviso, for the words and figures "where the CIF value of licenses is not less than Rs.....