9911796707
TMI Blog15% or 25% Customs duty & Nil additional duty on Capital Goods when imported by an importer under the (EPCG) scheme - EXIM Policy 1992-97X X X X Extracts X X X X X X X X Extracts X X X X ..... rom so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table and the whole of the additional duty leviable thereon 1[ under sub-sections (1), (3) and (5) of section 3 ] of the said Customs Tariff Act, subject to the following conditions, namely:- (i) the capital goods imported are covered by a valid licence issued on or before 30th April, 1995 under the Export Promotion Capital Goods (EPCG) Scheme in terms of the Export and Import Policy (hereinafter referred to as the Policy) and the said licence is produced for debit at the time of clearance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anuary, 2001 gransiots extenn of the period for fulfillment of export obligation, in terms of, and subject to the satisfaction of such condition as may be specified in a Public Notice of the Government of India in the Ministry of Commerce and Industry in this regard, the said period of fulfillment of export obligation may be extended and be deemed to have been extended beyond the 31st day of March, 2002, but shall in no case be extended beyond the 31st day of March, 2004. 1[2. In a case of default in export obligation, when the duty on goods is paid to regularise the default, the amount of interest paid by the importer shall not exceed the amount of duty if such regularisation has been dealt in terms of Public Notice of the Government of I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the Ministry of Commerce, No.1-ITC(PN) 92-97, dated the 31st March, 1992, as amended from time to time; (iii) "Licensing Authority" means an authority competent to grant a licence under the Import (Control) Orders, 1955, made under the Imports and Exports (Control) Act, 1947 (18 of 1947), or the Director General of Foreign Trade appointed under the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992) or an officer authorised by him to grant a licence under the said Act; (iv) Omitted -------------------------------------- Notes:- (As amended by Notification No. 306/92 dated 28/12/1992,124/93 dated 20/5/1993, 101/95 dated 26/5/1995 and 108/95 dated 5/6/1995 , Section 115 of the Finance Act, 2001 read with Eig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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