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Closure Of EPCG authorizations in case of supplies to SEZ units which have been made prior to 01.4.2015 and where exports proceeds have not been realized through Foreign Currency Account (FCA) of the SEZ unit

DGFT - 10/2016 - Dated:- 20-7-2016 - Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Dated 20th July, 2016 Trade Notice No 10/2016 To All RA's Members of Trade Subject: . Attention is invited to Para 5.7.2 of HBP 2009-14. Para 5.7.2 of HBP 2004-09 (RE : 2008) and the relevant Paras of the earlier policies Para 5.7.2 stipulates as under "Export proceeds shall be realized in freely convertible curren .....

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igation. Moreover Rule 30 (8) of SEZ Rules, 2006 do not stipulate that it is mandatory for SEZ units to make payment to EPCG authorisation holders from Foreign Currency Account (FCA) of the unit. 3. It has been decided, in consultation with SEZ Division of Department of Commerce, that closure / redemption / EODC may be allowed in cases where EPCG authorisation holder has made supplies to SEZ units and has not realised the proceeds from the Foreign Currency Account (FCA), in case of supplies whic .....

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