TMI BlogExport Promotion Capital Goods SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... Export Promotion Capital Goods Scheme - News and Press Release Dated:- 5-12-2014 - News - EPCG Scheme permits import of capital goods at 0% customs duty with an obligation to export 6 times of the duty saved amount in 6 years. The details of the Scheme are available in Chapter-5 of the Foreign Trade Policy and Handbook of Procedure Vol. I notified vide Notification No.1 dated 18.04.2013 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Public Notice No.1 dated 18.04.2013 respectively which are also available on the website of Directorate General of Foreign Trade( http://dgft.gov.in ). Authorizations under the EPCG Scheme are issued with specific conditions as laid down in the Policy/Procedure in this respect. EPCG authorization holders are required to fulfil the export obligation as stipulated in the Policy. In case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the EPCG authorization holder fails to fulfil prescribed export obligation, he is required to get the case regularized in terms of para 5.14 of the Handbook of Procedure Vol.I, on payment of customs duty along with applicable interest, in proportion to the unfulfilled export obligation. In case of default, authorization holder is liable for penal action under Foreign Trade (D R) Act, 1992 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as amended), Orders and Rules made thereunder. During the last three years, there have been 1461 cases where authorization holders have been declared defaulter and placed under Denied Entity List (DEL). 139 cases have been adjudicated under the FT (D R) Act, 1992 (as amended). This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce Industry Smt. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Nirmala Sitharaman in a written reply in Lok Sabha today. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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